Question 1

A bargain by a candidate for public office to make a certain appointment following the election is legal.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true with regard to an exculpatory clause?

Accepted Answer

A)  An exculpatory clause excuses one party from liability for her own tortious conduct. 
B)  Where one party has a superior bargaining position that has enabled him to impose an exculpatory clause upon the other, the courts are inclined to nullify the provision. 
C)  An exculpatory clause may be unenforceable for unconscionability. 
D)  All of these are true. 
A)  An exculpatory clause excuses one party from liability for her own tortious conduct. 
B)  Where one party has a superior bargaining position that has enabled him to impose an exculpatory clause upon the other, the courts are inclined to nullify the provision. 
C)  An exculpatory clause may be unenforceable for unconscionability. 
D)  All of these are true.

Question 3

An agreement to pay a public officer something extra for performing his official duty is enforceable.

Accepted Answer

A) True 
 B)False

Question 4

Bill is currently enrolled in law school.He expects to graduate and take the bar exam in order to be able to practice law.Before Bill becomes a lawyer, he promises to represent his friend, Tom, in a breach of contract action if Tom will pay him 25% of the settlement.Bill negotiates and the case settles for $50,000.Tom refuses to pay Bill.Bill then graduates and attempts to sue Tom.Bill has a legal right to enforce the agreement.

Accepted Answer

A) True 
 B)False

Question 5

Claudia sells her highly successful hair salon to Carl.In the sales contract, Claudia agrees never to open a hair salon in the state.Which of the following best describes this contract clause?

Accepted Answer

A)  Void as an illegal violation of a statute. 
B)  Valid as a reasonable restraint on trade. 
C)  Unenforceable as a violation of public policy. 
D)  Binding as fair protection. 
A)  Void as an illegal violation of a statute. 
B)  Valid as a reasonable restraint on trade. 
C)  Unenforceable as a violation of public policy. 
D)  Binding as fair protection.

Question 6

An agreement in connection with the sale of a business that prohibits the seller from engaging in the same or similar business for a period of twenty-five years would be unreasonable and unenforceable.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following would always be considered to be contrary to public policy?

Accepted Answer

A)  A contract which contains a covenant not to compete. 
B)  A contract offered on a take-it-or-leave-it basis. 
C)  An agreement to pay someone to make false statements about a competitor's product. 
D)  An agreement which contains an exculpatory clause. 
A)  A contract which contains a covenant not to compete. 
B)  A contract offered on a take-it-or-leave-it basis. 
C)  An agreement to pay someone to make false statements about a competitor's product. 
D)  An agreement which contains an exculpatory clause.

Question 8

a.Explain the meaning of "public policy" in the context that an agreement is void because it violates public policy.
b.List the most common forms of agreements that violate public policy.

Accepted Answer

a.Judicially declared public policy is v

Question 9

The law does not provide a remedy for the breach of an unenforceable agreement.

Accepted Answer

A) True 
 B)False

Exam 13: Illegal Bargains

A bargain by a candidate for public office to make a certain appointment following the election is legal.

Which of the following is true with regard to an exculpatory clause?

An agreement to pay a public officer something extra for performing his official duty is enforceable.

Claudia sells her highly successful hair salon to Carl.In the sales contract, Claudia agrees never to open a hair salon in the state.Which of the following best describes this contract clause?

An agreement in connection with the sale of a business that prohibits the seller from engaging in the same or similar business for a period of twenty-five years would be unreasonable and unenforceable.

Which of the following would always be considered to be contrary to public policy?

a.Explain the meaning of "public policy" in the context that an agreement is void because it violates public policy. b.List the most common forms of agreements that violate public policy.

The law does not provide a remedy for the breach of an unenforceable agreement.

Introduction to Law

Business Ethicspart Ii: the Legal Environment of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Negligence and Strict Liabilitypart Iii: Contracts

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remediespart Iv: Sales

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remediespart V: Negotiable Instruments

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transferspart Vi: Agency

Relationship of Principal and Agent

Relationship With Third Partiespart Vii: Business Associations

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporationspart Viii: Debtor and Creditor Relations

Secured Transactions and Suretyship

Bankruptcypart Ix: Regulation of Business

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

International Business Lawpart X: Property

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

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