Law_531_assesment_wk47

Lee, K. (2019). Business law (2nd ed.). Retrieved from https://www.myeducator.com/reader/web/760ai/Topic 6: Personal, Intellectual, and Real PropertyTopic 7: Contract Law- It’s time for the Bizlaw County auction! For each of the auction items listed below, you will (1) determine which type of property the item is and (2) give an identifier that further describes the nature of the item.A. A ring Hugh received from his grandmother several months before she diedB. A motorbike Ned got from the Harley-Davidson store for $53,000C. A motorless army jeep left on the plot of land Corey boughtD. A pair of high-quality cleats that Candace found on the football field after a gameE. A Sony Walkman that Mary left in her will for her nephew, ZeppelinF. The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired Points: 85 Started on Jul 10 at 22:43Your Submission:Top of Form1. Bookmark question for laterWhich type of property is item A?A ring Hugh received from his grandmother several months before she died o mislaid property o abandoned property o gift o inherited (bequeathed) property o purchase 2. Bookmark question for laterWhich identifier describes the nature of item A?A ring Hugh received from his grandmother several months before she died o tangible property o intangible/intellectual property o realty 3. Bookmark question for laterWhich type of property is item B?A motorbike Ned got from the Harley-Davidson store for $53,000 o mislaid property o abandoned property o gift o inherited (bequeathed) property o purchase 4. Bookmark question for laterWhich identifier describes the nature of item B?A motorbike Ned got from the Harley-Davidson store for $53,000 o tangible property o intangible/intellectual property o realty 5. Bookmark question for laterWhich type of property is item C?A motorless army jeep left on the plot of land Corey bought o mislaid property o abandoned property o gift o inherited (bequeathed) property o purchase 6. Bookmark question for laterWhich identifier describes the nature of item C?A motorless army jeep left on the plot of land Corey bought o tangible property o intangible/intellectual property o realty 7. Bookmark question for laterWhich type of property is item D?A pair of high-quality cleats that Candace found on the football field after a game o mislaid property o abandoned property o gift o inherited (bequeathed) property o purchase 8. Bookmark question for laterWhich identifier describes the nature of item D?A pair of high-quality cleats that Candace found on the football field after a game o tangible property o intangible/intellectual property o realty 9. Bookmark question for laterWhich type of property is item E?A Sony Walkman that Mary left in her will for her nephew, Zeppelin o mislaid property o abandoned property o gift o inherited (bequeathed) property o purchase 10. Bookmark question for laterWhich identifier describes the nature of item E?A Sony Walkman that Mary left in her will for her nephew, Zeppelin o tangible property o intangible/intellectual property o realty 11. Bookmark question for laterWhich type of property is item F?The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired o mislaid property o abandoned property o gift o inherited (bequeathed) property o purchase 12. Bookmark question for laterWhich identifier describes the nature of item F?The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired o intangible/intellectual property o tangible property o realty 13. Bookmark question for laterWhich of the following is not true of offers? o An offer may be terminated immediately if the offeree refuses it. o An offeree may reject an offer and present a counteroffer. o An offeree’s silence may be counted as an agreement. o If a counteroffer is accepted, the original offer is terminated. 14. Bookmark question for laterWhich of the following constitutes grounds for canceling a contract? o unilateral mistake of fact o bilateral mistake of value o mutual mistake of fact o mutual mistake of value 15. Bookmark question for later_________________ damages are designed to punish someone for breaching a contract and are usually only available in fraud or bad faith cases. o Nominal o Compensatory o Punitive o Consequential 16. Bookmark question for laterWhich of the following contracts is required to be in writing? o a contract for the sale of a bed for $350 o a contract for the lease of a motorcycle with payments of $500 o a contract for the sale of a bicycle for $200 o a prenuptial agreement 17. Bookmark question for laterA valid contract must include all of the following except which one? o agreement o assent o mutual respect o legality 18. Bookmark question for laterThe __________ rule states that an offer made by one merchant to another may remain open for a set time during which it cannot be revoked. o main purpose o firm offer o parol evidence o mirror image 19. Bookmark question for laterA person who owes a duty under a contract is called a(n)_________________. o offeror o delegator o obligor o assignor 20. Bookmark question for laterA person who is owed a right under a contract is called a(n)_________________. o obligee o offeree o delegatee o assignee Bottom of Form