LAW 531 Final Exam Guide New /LAW 531 Final Exam Guide New
LAW 531 Final Exam Guide New /LAW 531 Final Exam Guide New
1. The obligation owed by individuals to one another not to cause any unreasonable harm or any risk of harm is called:
duty of care
duty of restoration.
duty of loyalty.
duty of restitution.
2. Which of the following best describes the term warranty?
It refers to the terms in a sales contract stipulating the party that will bear the risk of loss of goods during shipment.
It is a purchaser’s title to goods obtained by the impersonation of another person.
It is the seller’s assurance to a buyer that the goods sold meet certain standards of quality.
It refers to the transfer of possession of stolen property to a person who had bought the property without the knowledge that it has been stolen.
3. The manifestation of the substance of a contract by two or more individuals is called ____.
acceptance
an agreement
an offer
consideration
4. Workers’compensation is defined as the:
set of programs mandated by the government to ensure safety in places of work.
remuneration awarded to employees and their families when the employees are injured on the job.
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