Business Law Quiz 2022/2023

A.A. 2022/2023

• 11) FAS means
  • Foreign alien state
  • free alignment security
  • free on board
• 21) IN CASE OF UNILATERAL MISTAKE
  • in the contract is binding, except when the other party knows or should have known the mistake
  • the contract is binding
  • the contract is not binding if the other party knows or should have known the mistake
  • the contract is not binding, except when the other party knows or should not have known the mistake
• 31) JOINT VENTURE CONTRACT CAN BE ENTERED
  • only by companies
  • only by individuals
  • by both companies and individuals
• 41) A VALID CONTRACT
  • is a contract that meets all legal requirements and can be enforced by either party
• 51) A PARTY WHO BREAKS OFF NEGOTIATIONS IN BAD FAITH
  • is bound to restart the negotiation
  • is liable for losses
  • neither nor b
• 61) AN OFFER CAN BE REVOKED BY THE OFFEROR
  • always except in case of option contract, unilateral contract, u.c.c exception, promissory estoppel
  • in any case
• 71) A QUASI-CONTRACT IS CREATED
  • by operation of law in behalf of the unconscious party
  • by operation of law on order to avoid unjust enrichment of one party at the expense of another
  • by one party at the expense of the another
• 81) IN AN OFFER UNSTATES TERMS
  • could be clarified before the agreement is closed
  • must be clarified after the agreement is reached
  • may be implied or inferred in case of material breach
• 91) ACCORDING TO CISG IN CASE OF MATERIAL BREACH
  • the non breaching party may
    • demand the performance
    • either the discharge or breach
• 101) A VOIDABLE CONTRACT
  • is binding on either party but is enforceable by only one
  • is binding on one party who has the option to withdraw from or to enforce it
  • is binding on one party and enforceable by the same
• 111) ACCORDING TO DUTY OF GOOD FAITH
  • all parties should not fail in fulfilling they obligations
  • all parties should not withdraw from negotiation process if started
  • not sincerely aimed at entering into contra actual relations
• 121) ADEQUACY OF CONSIDERATION
  • is an issue in court
  • neither nor b
• 121) CONSIDERATION IS
  • the price
  • something a party provides in exchange for goods
  • something a party provides in exchange for something from the other party
• 141) FROM THE CONTRACT
  • is a rule to be enforced just as law
  • is a rule binding upon the parties
  • is a rule binding upon the parties but less binding than law
• 151) MEMORANDA / TERMS OF AGREEMENT
  • are never legally binding
  • are specific contracts
  • are never legally binding
• 161) THE ESSENTIAL ELEMENTS OF A CONTRACT ARE
  • all oral or written agreement, implied or expressed
  • of capacity, mutual agreement, consideration and legality
  • subject matter
• 171) AN IMPLIED CONTRACT
  • can be inferred by a judge
  • can be inferred by a reasonable person
  • can be by conduct
• 181) UNILATERAL CONTRACT
  • is a unilateral two conduct
  • involves one promise by one party and an act by another
• 191) PRE-EMPTION RIGHT IS THE RIGHT
  • to buy shares at a fixed price
  • to be offered to anyone in a company before they are made available to anyone else
  • to sell shares at a fixed price
• 201) A VOID CONTRACT
  • is void but cannot be enforced
  • is not valid but cannot be temporarily enforced
  • is not valid and cannot be enforced
• 211) AN EXPRESSION OF WILL
  • a legally enforceable agreement, express or implied
  • a document
  • a document
• 221) EXPRESS CONTRACT IS
  • the agreement expressed the clear intention to be bound by the agreement
  • by stated in words, written or oral, or partly written and partly oral
  • a signed document