(Solved): Legal Environment of Business (BUS-2200-3ON)NEED ANSWERS ASAP Adequacy of consideration refers to "h ...

Adequacy of consideration refers to "how much" consideration is given. True False Question 42 (1 point) Owen, the owner of Parts Company, pays Quint to obtain a competitor's design patent. Quint keeps the money but does not deliver. Owen can not recover. recover from Quint. enforce the contract with Quint. recover from the competitor. Question 43 (1 point) The state of New York enacts a usury statute. With respect to different types of transactions, including ordinary loans, the purpose of the statute is to set a maximum rate of interest. regulate certain forms of gambling. specify clauses that must be included in certain contracts. prohibit certain contracts based on their subject matter. Question 44 (1 point) Donald is a minor. He can enter into any contract an adult can. provided the adult is willing to enter into contracts with minors. Donald is willing to disaffirm the contract. the contract is not one prohlbited by law for minors. an adult is willing to ratify the contract. Ben, a minor, signs a contract to buy a Call-U phone from Dallas, an adult sales representative. Dallas can avoid the contract without Ben's consent. cannot avoid the contract. can avoid as much of the contract as Ben elects to avoid. must obtain Ben's consent to avoid the contract. Question 46 (1 point) engages in financial transactions to conceal the identity, source, or destination of illegally gained funds. RICO Money laundering Espionage Racketeering Question 47 (1 point) Sid offers Tina, a city inspector, money to overlook health code violations in his restaurant. Tina accepts the money and overlooks the violations. Sid is charged with the crime of bribery. The crime occurred when Sid violated the health code. Sid offered the bribe. Tina accepted the bribe. Tina overlooked the violations. An intent to deceive or guilty knowledge, can also be referred to as compulsion. unfaithfulness. scienter. bad faith. Question 49 (1 point) Insider trading is a violation of securities law espionage laws federal RICO crimes treason crimes Question 50 (1 point) Under a contract with Red Wines, Sancho begins grading a terraced hillside for the planting of grapes. Halfway through the project, Sancho asks for \( \$ 5,000 \) over the contract price, claiming an increase in the "cost of doing business." Red agrees but later refuses to pay. Red's agreement to pay more is unenforceable because Sancho's performance was a preexisting duty. unenforceable because Red's promise was fllusory. enforceable on its face. unenforceable because Sancho's request modified the contract. Andy causes a disturbance at Brew Pub. He is arrested and charged with disorderly conduct, a crime punishable by imprisonment up to one year. This crime is a misdemeanor. a felony. a civil wrong. a tort. Question 52 (1 point) A party who has justifiably relied on an oral contract may use if the courts will not enforce it, because of failure of a writing. breach of contract undue influence duress promissory estoppel Question 53 (1 point) To constitute consideration, there must be a payment. a performance. a bargained-for exchange. serious thought underlying each party's intent to contract. Zoey is accused of auto theft. She refuses to give information related to her alleged criminal activities because she suspects it will be used to prosecute her. This is a mistake of fact entrapment. the privilege against self-incrimination ignorance of the law. Question 55 (1 point) The Racketeer Influenced and Corrupt Organizations Act has become an effective tool in attacking criminal activities occurring online. businesspersons who use bribery to secure foreign contracts. defenses that excuse criminal behavior. organized crime Question 56 (1 point) does not prevent an injured party from bringing civil charges against a defendant once they are found innocent in a criminal case. Mistake of law Mistake of fact Privilege against self-incrimination Double jeopardy Lazlo and Mac bet illegally on the outcome of a sporting event. Before the event is held, Lazlo changes his mind about the wager. Lazlo can not withdraw from the deal without Mac's consent. not withdraw from the deal under any circumstances. withdraw from the deal at any time before it occurs. not withdraw from the deal without paying Mac's expenses. Question 58 (1 point) Chuck signs Dolly's name, without her authorization, to the back of her paycheck, which was issued by Eastside Market. This is no crime. forgery. larceny. robbery. Cathy agrees to sell her Daily Donut shop to Ernie. In the agreement, there is a covenant not to compete that prohibits Cathy from operating a donut shop within a certain distance. If the restriction is unreasonable, a court will most likely award Cathy damages. order Ernie to stop doing business. reform the covenant. prohibit both parties from operating donut shops. Question 60 (1 point) Fess convinces Gwyn to enter into a contract for the purchase of a Falafel Waffle Food Cart by knowingly misrepresenting a number of material features about the facility and the business. Most likely, Gwyn can rescind the contract on the basis of fraudulent misrepresentation. negligent misrepresentation. innocent misrepresentation. unfairness.