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Commerce 4SD3 - Exam Law MCQuestions.doc

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Department
Commerce
Course
COMMERCE 4SD3
Professor
Paul Stillman
Semester
Winter

Description
1 A unilateral mistake regarding the identity of the other party to a contract may result in that contract being1Void2Voidable3Either of the above4Neither of the AboveA3 Either of the aboveThe contract is void if the mistake is about the nature of the signed agreement or the wording on a document or if a person is using a false nameVoidable if the person is using a fake name2A prospectus is mainly required to the benefit of1Existing Shareholders2Existing Directors3A corporations creditors4All of the above5None of the aboveA4 A Prospectus is required for the benefit of all the existing stakeholders3Reliance damages may be awarded to the plaintiff in a breach of contract case1True2FalseA 1 Reliance Damages are damages for the cost of all expenditures in anticipation of a contractual duty when the contract is cancelled4 The doctrine of part performance affects the consideration to be paid for that performance1True2FalseA2 The doctrine of part performance allows part performance of a contract of land as evidence of the contract in place of a written memorandum5 Novation results in the discharge of a contract1True2FalseA1 The replacement of one of the parties discharges the original contract and substitutes a new contract6 The doctrines of quantum meruit and part performance could both apply to the same fact situation1True2FalseA 2 Part performance has to do with contracts for the salelease of land and payment comes in the form of leasingNo added costs exist as per quantum meruit7 The absence of intent on the part of a defendant may be a defense to a civil action based upon a dishonoured negotiable instrument1True2FalseA2 There is still fault without the intent of not fulfilling the contractCannot accidently have not enough money in your account to fulfill an instrument and then refuse payment8 The Personal Property Security Act applies to a sellers lien as provided for by the Sale of Goods Act1True2FalseA29 Specific performance and injunctions are both equitable remedies1True2FalseA1 Equitable remedies include injunction interlocutory injunction rescission and specific performance10 Drunkenness of an offeree may or may not terminate an offer1True2FalseA1 Drunkeness may or may not allow the offer to be terminated by the offeree as it may be voidable or not voidable11 The Consumer Protection Act affords no remedy to a buyer unless the contract covered by that statute is in writing1True2FalseA212 The Ontario Court General Division hears only criminal cases1True2False A2 The Ontario Court General Division hears criminal and civil cases 13 The alteration of a legal document may affect its validity11True2FalseA114 An easement creates no right of exclusive possession until it is properly registered1True2FalseA2 Easement never creates the right of exclusive possession15 The doctrine of privity applies only to written contracts1True2FalseA2 Privity being party to a contract exists in all contractsCannot have a relationship of privity to a contract if you didnt make the contract even if it is oral16 The need to afford written notice is always created by statute or contract as opposed to common law1True2FalseA217 The Occupiers Liability Act defines the duty of care owed to visitors upon land1True2FalseA 1 Duty to guard from dangers that are known of and should be known of18 An immediate family member of a bankrupt cannot be a secured creditor within the meaning of the Bankruptcy and Insolvency Act1True2FalseA 2 Cannot be a preferred creditor when wages are concerned19 Subsequent statutes may alter some rules laid down by the Supreme Court of Canada1True2FalseA120 A legal right is not necessarily created by a moral right1True2FalseA121 The loss of a career opportunity could provide a source of damages if that loss could be related to negligence or to a breach of contract1True2FalseA122 Contracts under seal that are signed under duress are1Void 2Voidable3Valid4None of the aboveA223 Unregistered chattel mortgages are illegal until they become registered1True2FalseA224 The doctrine of estoppel provides an exception to 1The privity rule2The Parol Evidence Rule3Non est factum4The law of Agency5None of the aboveA4 Deals with the law of agency An exception25 Contracts which have the effect of varying the laws of negligence may or may not be legally valid1True2False2
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