LAW 531 Week 3 Quiz
1. Which of the following is true about the public use doctrine?
The inventor has to test his invention in the public domain, to measure its validity, before being granted a patent
A patent will not be granted if the invention was already in public use for one year before filing application
An invention cannot be used in the public domain prior to it being granted a patent
The invention will come into the public domain once its time period has expired
2. Which of the following is an equitable doctrine designed to prevent unjust enrichment and unjust detriment where no actual contract exists?
The doctrine of Quantum merit
The doctrine of implied-in-law contract
The express contract doctrine
The doctrine of formal contracts
3. Which of the following examples is a bilateral contract?
Mary pays Bob for painting her house
Mary promises to pay Bob if Bob promises to paint her house
Mary pays Bob for Bobs promise to paint her house on Saturday
Bob paints Marys house and Mary promises to pay Bob on Saturday.
4. Which of the following if the best definition for the legal term promissory estoppels?
A promise made in a contract must be an express promise in order to be valid
A party to a contract cannot promise to provide illegal consideration
A gift promise made in an estate is valid and legal
A party to a contract cannot withdraw a promise if the other party to the contract relied upon the promise to his or her detriment.
5. A(n) ________is an agreement that is stated orally or in written words.
Express contract
Quasi contract
Implied-in-fact contract
Implied-in-law contract
6. An individual who finds the personal property of another, acquires legal title to that property against the entire world, only if it is what type of personal property?
Mislaid property
Stolen property
Lost property
Abandoned property
7. In order for a response to be considered a legal acceptance to an offer, and not a counter offer, what rule must apply?
The voluntary performance rule
The mirror image rule
The public law rule
The lapse of time rule
8. Wildboards Company introduces a product called a Rollerboard for which it is granted a registered trademark. The Rollerboard is a snowboard with a removable row of wheels along the center of the underside. With the wheels attached, the user can attain extremely high speed in hard-packed snow conditions. In addition, many users have found that they can use their snowboards on streets with the wheels attached. This new use of snowboards becomes very popular and many competing snowboard makers introduce similar products. The sport becomes known generally as rollerboarding and most people refer to all such wheeled snowboards as rollerboards. What is the consequence of this scenario?
Wildboards cannot stop competitors from using the term rollerboard for their products.
Competitors must pay royalties to Wildboards for using the term rollerboard.
Wildboards can no longer use the name Rollerboard on its boards.
Competitors must put a disclaimer on their boards that they are not the original Rollerboards.
9. Parties enter into a contract for services and one party commits a breach. The party who breached wants to continue with the contract but wants the terms revised. What is the best method of dispute resolution?
Mediation
Negotiation
Arbitration
Med-Arb
10. Apart from recovering damages, and recovering profits made by the offender, successful plaintiffs in a misappropriation of a trade secret case can also
Ask for transfer of any of the offenders patents to the plaintiff
Obtain the offenders trademarks or brand name as payoff
Ask to acquire the offenders trade secrets as payoff
Obtain an injunction prohibiting the offender from divulging the trade secret
11. Oral agreements may be legally enforceable contracts with the exception of some types of contracts specified in which law?
Statute of Limitations
Common Law Statute
Statute of Verbal Contracts
Statute of Frauds
12. Consideration, which is requires in a contract, consists of which two elements?
Legal value must be given and there must be a bargained-for exchange
Money must be received and a promise fulfilled
Money must be paid and fund received
Legal value is appropriate and the value is paid
13. Which of the two parties are involved in every contract?
A buyer and seller
An offeror and offeree
A breaching party and a non-breaching party
An initiator and a responder
14. Which of the following types of real property rights can be sold properly from land?
Minerals in the subsurface
Buildings and improvements on the land
Improvements under the land
Building fixtures on the land
15. Which of the following is true when someone mistakenly makes an improvement to the personal property of another?
The property owner gets to keep all of the improvement and is not required to pay for it.
The party who made the improvement must remove all easily removable improvements, paying any damages from the removal; otherwise the owner of the property gets to keep the improvement and is not required to pay for it.
The party who made the improvement can remove it if this is possible; otherwise, the owner of the property must keep the improvement and pay the party who improved it the reasonable value of the improvement.
The property owner gets to keep the improvement in all cases, but must pay the part who improved it the reasonable value of the improvement.
16. Contracts are discussed primarily in Sections 2 and 2A of the Uniform Commercial Code pertaining to which of the following transactions?
Financing of consumer goods
Sale of commercial goods
Sale of goods and lease of goods
Sale of real property
17. Jenson and Johnson enter into a contract that involves Johnson paying Jenson $1,000 for shoveling the snow from his driveway throughout the winter. Jenson, who was paid before work commenced, breached the contract on the very first day. He should refund $1,000 to Johnson as
Liquidated damages
Compensatory damages
Consequential damages
Restitution
18. Some trees were cut down and made into lumber, and the lumber was used to build a house. What type of property were the trees while they were growing, when they were lumber, and when they became part of the house respectively?
Personal, real, real
Real, real, personal
Real, personal, real
Personal, personal, real
19. Under section 2 of the Uniform Commercial Code (UCC), a contract for the sale of goods must be written if that contract is for what monetary value?
$50 or more
$1,000 or more
$500 or more
$200 or more
20. Which of the following examples of is a unilateral contract?
Debbie pays Larry for painting her house
Larry promises to paint Debbies house if Debbie promises to pay him
Debbie pays Larry for Larrys promise to paint her house on Saturday
Debbie promises to pay Larry when Larry paints her house.
21. Both the Statute of Frauds and the Uniform Commercial Code require a valid, enforceable contract to be signed by whom?
Party against whom the contract enforcement is sought
Party enforcing the contract
All parties to the contract
None of the parties to the contract
22. What is the highest type of ownership estate in real property?
Leasehold estate
Freehold estate
Fee simple absolute estate
Life estate
23. What federal statute governs the legal use of electronic contracts?
Federal Banking Act of 2010
Uniform Commercial Code
Uniform Computer Information Transactions Act
Federal Enforcement Act
24. If a contract ends in a dispute, and the parties want to have the matter resolved without going to court, which is the most common method for them to pursue?
Mediation
Discovery
Arbitration
Mini-trial
25. To create an enforceable contract, which of the following are needed?
Agreement, consideration, objectives, and contractual capacity
Agreement, consideration, contractual capacity, and a lawful object
Offerer, offeree, agreement, and capacity
Offerer, acceptance, agreement, and consideration