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Question
If a lessor is a merchant, the risk of loss passes to a lessee when the lessee takes physical possession of the goods.Answer
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Related questions
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Rashad accesses Quant Company's computer system without authority to obtain protected financial data. Under federal law, this is
a. a felony if it is committed for a commercial purpose.
b. a felony if Quant brings a civil suit against Rashad.
c. not a crime.
d. a crime, but not a felony.
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Harvey puts up a guitar for bids on eWay, a Web auction site. Faith makes the highest bid and sends the payment, which Harvey receives, but he does not send the guitar to her. This is online
a. auction fraud.
b. puffery.
c. retail fraud.
d. frustration but not fraud.
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Travis sends Ursula a link to a purported e-birthday card that when clicked on downloads software to her computer to record her keystrokes and send the data to Travis. He uses the data to obtain her personal information and access her financial resources. This is
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b. no crime.
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Page points a knife at Ray's daughter, threatening to hold her hostage and "cut" her unless Ray takes a certain file from Skelter Supplies Corporation, his employer. Charged with theft, Ray can successfully claim as a defense
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Vance points a gun at Workman, threatening to shoot him. Workman hits Vance, causing his death. Charged with homicide, Workman can successfully claim as a defense
a. nothing.
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Val, the owner of Wild Wheels, a bicycle store, trusts Xavier to manage the store's daily cash flow. One night, without Val's knowledge or consent, Xavier takes and keeps $500 from the receipts. This is most likely
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Ludwig receives from Milo a marimba stolen from Nadine. To be criminally liable, Ludwig must know
a. Milo.
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A business takes a risk by electronically storing its customers' credit account numbers.
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Under the exclusionary rule, all evidence must be included in a criminal prosecution.
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Most crimes must be prosecuted within a certain number of years.
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The crime of theft does not require that the perpetrator know whatever is taken belonged to another.
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A misdemeanor is a crime punishable only by a fine.
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Kay and Leo copy and exchange MP3 music files over the Internet withÂout anyone's permission. With respect to songs owned by Natural Recording Company, this is
a. copyright infringement.
b. fair use.
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d. protected expression.
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Felicia invents a new valve to cap undersea oil spills, which she names "Great Catch." She also writes the installation manual to be included with each valve. Felicia could obtain copyright protection for
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Ric designs a new computer hard drive, which he names "Sci Phi." He also writes the operating manual to be included with each final product. Ric could obtain patent protection for
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Q:
On May 1, Brand Name Industries, Inc. (BNI), sent Carol a letter, via overnight delivery, offering to employ her to audit BNI's financial stateÂments for the current year for $1,000. In the letter, BNI stated that Carol had ten days to accept. On May 5, Carol sent BNI a fax that stated, "The price for the audit seems too low. Would you consider paying $1,200?" BNI received the fax. The next day, Dan offered to conduct the audit for $800. On learning of Dan's offer, Carol immediately e-mailed BNI, agreeÂing to do the work for $1,000. BNI received this e-mail on May 7. Explain why BNI and Carol do, or do not, have a contract.
Q:
Michelle gives out a business card with an e-mail address on it. According to the comments that accompany the UETA, it may be reasonable to infer that Michelle has consented to
a. transact business electronically.
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d. nothing.
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Howie enters into a contract with Ida over the Internet to buy soybeans as a hedge against falling prices in corn. Neither party prints out a hard copy. Under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), this contract can
a. be "denied legal effect" if it falls under the UCC's Statute of Frauds.
b. be "denied legal effect" unless a hard copy is printed.
c. be "denied legal effect" until it is executed.
d. not be "denied legal effect" because it is only in electronic form.
Q:
Magic Math Corporation makes business accounting software, which is packaged with a shrink-wrap agreement. National Distribution Company distributes the software to retailers, including an Office Stuff store, where Peg buys a package of it. The parties to the shrink-wrap agreement are
a. Magic Math and National Distribution only.
b. Magic Math and Peg only.
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d. Office Stuff and Peg only.
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Deepwater Mining Corporation offers to sell East China Refining, Inc., a certain quantity of unrefined oil. If East China sends an acceptance via Deepwater's authorized mode of communication, it will be effective when it is
a. in transit.
b. received.
c. sent.
d. written.
Q:
Sunshine Cell Phone Company offers to buy a laser printer, with a case of paper and an extra carÂtridge, from Office Products, Inc. (OPI), for $200. Paul, OPI's representative, says, "Okay, but no paper and no extra carÂtridge." Paul has
a. accepted the offer.
b. made a counteroffer without rejecting the offer.
c. rejected the offer and made a counteroffer.
d. rejected the offer without making a counteroffer.
Q:
Brick Products, Inc., files a suit against City Trucking Service for breach of contract, based on what Brick claims was City's offer. For a court to deÂtermine if a contract has been breached, under the common law, the offer must include terms that are
a. exactly precise.
b. reasonably definite.
c. unequivocally approximate.
d. vague or uncertain.
Q:
Fanny tells Eden that she will sign a lease if it includes a clause permitting Fanny to exÂtend the lease at the same amount of rent. Fanny's intent to sign the lease is determined by reference to Fanny's
a. assumptions.
b. beliefs.
c. unspoken opinions.
d. words and action.
Q:
If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.
Q:
If no time for acceptance is specified in an offer, the offer terminates at the end of a reasonable time.
Q:
A contract lacking a quantity term, when appropriate, may not be enforceable.
Q:
An expression of opinion"your customers will like this"is an ofÂfer.
Q:
An invitation to negotiate"can you afford this?"is an offer.
Q:
On May 1, Faith, a real estate agent, and Grace, a commercial property owner, sign an agreement to find a buyer for Grace's office building. Under the terms, if a buyer makes a serious offer within sixty days, Grace must pay Faith's commission. Faith puts signs on the building, ads in real estate pamphlets and a local newspaper, and features the property in a "walking" tour on the Internet. On June 1, Grace tells Faith that she is canceling their arrangement. Ten days later, Grace closes a sale on the building without Faith's participation. Faith files a suit against Grace for the amount of her commission. In whose favor is the court most likely to rule and why?