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21. All of the following statements are true, EXCEPT:

a. Generally, courts will refuse to enforce contracts that involve illegal activities.
b. Generally, courts will refuse to enforce contracts that are determined to be contrary to public policy.
c. A court will not set aside a contract due to the mistake of the parties to the contract. This is true even if the mistake was made by both parties, and it affected a basic assumption upon which the contract was made that has a material effect on the agreed exchange of performances.
d. A contract will be set aside by a court if one of the parties was under duress at the time the contract was formed, or one party exercised undue influence on the other party.

22. Which of the following statements is true?

a. All contracts must be in writing to be enforceable.
b. Contracts for the transfer of an interest in land do not have to be evidenced by a writing to be enforceable.
c. For a contract for the sale of goods over $5,000 to be enforceable, all of its terms must be set out in writing.
d. If a contract is fully performed, it doesn’t have to be in writing to be enforced, if all the other elements of a valid contract are demonstrated.

23. Which of the following statements are true?

I. In a lawsuit concerning a written contract, the parol evidence rule forbids the introduction of any evidence other than the contract itself, in all situations.
II. The overall goal of interpreting the meaning of a contract or its terms is to ascribe the meaning that a reasonable person would be expected to give to the term or matter at issue.

a. I only
b. II only
c. Both I and II
d. Neither I nor II

24. All of the following statements are true, EXCEPT:

a. Many contracts contain express conditions. These are certain things that must happen before one of the parties is expected to perform his obligations under the contract.
b. Under a contract for the construction of a building, if the builder only substantially performs--but doesn’t completely perform--his contractual obligations, the other party has no further obligations under the contract whatsoever.
c. If one party to a contract makes it clear by word or act he won’t perform his obligations under a valid contract, this constitutes a breach of contract by anticipatory repudiation.
d. If a party can’t perform under a contract due to certain circumstances, or it becomes economically unfeasible to do so, performance under the contract may be excused, under certain conditions.

25. Which of the following statements is true?

a. If a party demonstrates another party has breached a contract, and brings a lawsuit for this, the party can seek damages, but there is no other form of legal relief that may be sought by the party suffering the breach of contract.
b. A contract may specify penalties that will be due and owing if one of the parties beaches the contract, and such penalties will be enforced by the courts, even if they are much more than a reasonable approximation of the damages that will be sustained if there’s a breach of contract.
c. Neither consequential nor punitive damages can be awarded in most breach of contract cases.
d. If a party agreeing to perform a personal service under a contract breaches the contract, that party may be ordered by a court to perform the service.

26. Which of the following statements are true?

I. An agency is a fiduciary relationship where one party agrees to act on another’s behalf, subject to the other’s control and consent.
II. When an agent acts on behalf of a principal in an authorized manner, the principal is only bound by the act if he later acts to explicitly ratify the act.

a. I only
b. II only
c. Both I and II
d. Neither I nor II

27. All of the following statements are true, EXCEPT:

a. Agents have a duty of loyalty to their principals.
b. Agents have a duty to obey the lawful and proper instructions of their principals that are within the scope of the agency agreement.
c. Agents are solely responsible for the exercise of their obligations under the agency agreement, so they are under no duty to communicate information to the principal.
d. Agents have a duty to exercise reasonable care and skill when conducting activities within the scope of their agency agreement.

28. Which of the following statements is true?

a. Agents must perform their stated tasks under the agency agreement, but aren’t required to keep any records.
b. Agents are allowed to use the property of their principals for their own personal benefit, even if this damages or uses up the property.
c. If an agent makes a profit themselves on a transaction that was supposed to be on behalf of their principal, the agent will be required to turn over this profit to their principal, at least in most cases.
d. Agents must follow all instructions of their principals, even if these require the agent to perform acts that are contrary to public policy.

29. Which of the following statements are true?

I. Principals have the duty to compensate their agents if the agency agreement between them provides for compensation.
II. Once an agency agreement has ended, there are no cases where the agent can be entitled to any compensation.

a. I only
b. II only
c. Both I and II
d. Neither I nor II

30. All of the following statements are true, EXCEPT:

a. Principals generally have the obligation to reimburse their agents for reasonable expenses incurred by the agents on their principals’ behalf.
b. Similar to agents, principals have a duty to keep accounts, or adequate records, so that compensation and reimbursement of agents can be reasonably determined.
c. Agency agreements only terminate when the purpose of the agency has been achieved, and cannot terminate by operation of law.
d. Principals have the power to extinguish agency relationships at any time, even if by doing so they may be in breach of the agency agreement.

31. Which of the following statements is true?

a. The only way an agent can acquire authority to act on behalf of a principal is under the doctrine of actual authority.
b. Express authority is a form of apparent authority.
c. To create authority on the part of an agent, the principal must communicate it expressly. If authority is not communicated expressly, it doesn’t exist.
d. When an agent has received authority in writing, the agent is termed an attorney-in-fact under the law.

32. Which of the following statements are true?

I. Under the doctrine of apparent authority, a principal will be bound by the conduct of his former agent, if the principal has not taken reasonable and appropriate steps to notify third parties the agency relationship has ended, and a third party would reasonably believe the agent still represents the principal.
II. If the act of an agent isn’t authorized by the principal, the principal cannot be bound by the act, even if the principal later explicitly accepts the act, or impliedly accepts it by keeping the benefits of the unauthorized act.

a. I only
b. II only
c. Both I and II
d. Neither I nor II

33. All of the following statements are true, EXCEPT:

a. Knowledge possessed by the agent about matters within the scope of the agency is generally considered to also be possessed by the principal.
b. Payment to an authorized agent is considered to be payment to the principal.
c. Agents are personally responsible to perform contracts entered into for their principals if the principals fail to perform, and this is even true when the agent discloses to the other party to the contract that the contract is being executed on behalf of a disclosed principal.
d. In some cases, principals will be liable for torts committed by their agents, as per the doctrine of vicarious liability, or respondeat superior.

34. Which of the following statements is true?

a. Under the workers compensation system, employees seeking benefits must prove fault on the part of their employer, but the employers will have several common law defenses to their claims, such as contributory negligence and the fellow-employee rule.
b. The FLMA requires all employers to give 12 weeks of paid leave to all employees who have a serious medical condition.
c. The Employment Retirement Income Security Act, ERISA, regulates pension plans established by employers, and sets certain standards regarding when pension plan benefits must be non-forfeitable—that is must become vested.
d. Under federal law, employers may require all of their employees to agree not to join a union as a condition of their employment.

35. Which of the following statements are true?

I. Federal law does not provide any right of workers to bargain collectively.
II. It is not an unfair labor practice for an employer to refuse to bargain with a duly elected employee union.

a. I only
b. II only
c. Both I and II
d. Neither I nor II

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