Multiple Questions Answers

1“Necessaries” for minor contracts do not usually include 

Answer
a. Transportation
b. Education
c. Insurance
d. Medical Care

2What as a general rule makes a covenant-not-to-compete legal in an employment contract?
Answer
a The covenant must be reasonable as to time/duration.
b The covenant must be reasonable as to place/territory.
c  The employer must be able to demonstrate that the covenant was necessary to protect a legitimate business interest of the employer.
d All of the above.

3 A provision under the UCC which affects merchants differently from nonmerchants is: 

Answer
a. The effect of additional terms in an acceptance.
b. The firm offer rule.
c. The written confirmation rule.
d. All of the above.

4Which of the following is a correct statement? 

Answer
a. Incorporators must sign and execute the articles of incorporation of a U.S corporation.
b. Most states in the U.S limit the duration of a corporation to fifty years plus a day, which time period can be renewed.
c. A tenancy at will under U.S law is created by an express contract by which personal property is leased for a specific period of time.
d. A quitclaim deed warrants more than any other deed under U.S real estate law.