Which of the following is a false statement?
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A.
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An option is irrevocable during the option period.
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B.
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An offer made in jest or as a joke where a reasonable person would conclude that it was made in jest or as a joke cannot result in a contract.
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C.
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The offeror is the party to decide whether to accept the offer and thus make a contract.
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D.
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A contract remains executor as long as any party to the contract has not fully performed.
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As to all tort lawsuits:
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a.
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There must be a legal duty owed to the plaintiff by the defendant.
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b.
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There must be the intent to harm by the actor.
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c.
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There must be the showing of a defect.
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d.
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None of the above.
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Which of the following is a true statement?
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A.
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Excuplatory clauses in contracts are typically upheld by the courts.
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B.
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A non-compete agreement in the contract for the sale of a business will not be found to violate public policy if it meets the tests of reasonableness.
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C.
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All gambling agreements are illegal contracts since gambling is immoral.
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D.
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The age of majority for contracting in most states is 35.
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Which of the following is a false statement?
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A.
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As a general rule, collateral or secondary promises must be in writing to be enforceable.
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B.
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A guaranty contract situation involves three parties.
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C.
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To be sufficient under the Statute of Frauds the contract must be signed only by the party who is bringing the lawsuit to enforce the contract.
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D.
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Under the doctrine of Promissory Estoppel, a promisor may be prevented from raising the defense of lack of consideration.
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Which of the following is not true about limited liability companies?
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Limited liability companies can in some states have only one owner.
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Limited liability company status will ensure tax treatment as a corporation.
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A limited liability company must use the words "limited liability company" in its name or "LLC" or "LC."
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In order to form a limited liability company, articles of organization must be filed with state.
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Which of the following is a true statement?
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A.
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Fraud by active concealment occurs when a party to a contract fails to disclose all of the known facts about the subject matter of the contract.
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B.
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To be actionable for fraud, a misrepresentation must pertain to a future opinion.
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C.
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The threat to bring a lawsuit to obtain an agreement can be grounds for duress if the suit is a legitimate one.
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D.
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A mutual mistake renders a contract null and void.
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To be convicted of a crime under U.S. laws, the prosecution typically must prove the case against the defendant:
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a.
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By a preponderance of the evidence.
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b.
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By clear and convincing evidence.
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c.
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Beyond a reasonable doubt.
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d.
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None of the above.
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Which of the following is a false statement?
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A.
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The requirement of a minimum amount in controversy for federal jurisdiction applies to diversity of citizenship cases.
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B.
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The legal requirement of "standing" requires that a plaintiff have a stake in the outcome of a case that is filed.
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C.
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In rem jurisdiction can never be grounds to obtain jurisdiction of a lawsuit.
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D.
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A forum-selection clause in a contract allows parties to a contract to agree to the jurisdiction of a court that otherwise might have personal jurisdiction.
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Which of the following is a false statement?
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An oral defamatory statement must be communicated to a third party to be actionable, but a written one need not.
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An individual's right to privacy includes the exclusive use of his or her likeness.
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Intentionally causing a party to break a contract may constitute the common law tort of wrongful interference with a contractual relationship.
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Under the doctrine of strict liability in the U.S., a defendant may be liable for the results of his or her acts even if he or she did not intend those results.
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Powers which the U.S. Constitution does not mention:
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Are held both by the states and the federal government.
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Are reserved to the states.
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Are reserved to the federal government.
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Can be delegated by the U.S. Supreme Court to either the states or the federal government
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