Spring 2020 Business Law Assignment INSTRUCTIONS: This is the final contract-based exam and includes principles and
topics in Chapters 7, 8, 9 and 10 of the Business Law book.
This is a contract based exam with contract scenarios and the answers in multiple
choice. Spring 2020 Business Law Assignment
Read each question with the contract example very carefully.
When selecting your answer, choose the BEST answer.
You may use your Business Law book. You may also use your notes from class or
notes you have made in preparation for this exam.
You may NOT “google” contract terms or “google” any information for the exam.
You may not use the internet for information about the exam.
You should ONLY use your Business Law book and your notes. Nothing else.
This is ‘on your honor’ that you will not use anything other than your Business Law
book and your notes for the test.
You CANNOT work in groups or talk to other students about the test. You must
take the test ON YOUR OWN.
If you are in Prof. Howard’s 1:00 pm class T/TH, the final is due by APRIL 30, 2020
If you are in Prof. Howard’s 2:00 pm class T/TH, the final is due by APRIL 28, 2020
If you are in Prof. Howard’s 6:00 pm class T/TH, the final is due by APRIL 28, 2020
Every question is worth 7 points, for a total of 100 points Spring 2020 Business Law Assignment
Page 2 of 2
NAME: ______________________________(2 points)
CLASS ENROLLED: (1 pm or 2 pm or 6 pm): ________________________
PHONE NUMBER FOR ANY CONTACT: _______________________
UV ID NUMBER: ____________________
1. Melissa and Karen are driving to school together. Melissa’s brand new
truck that is worth $20,000 stops working due to the air being cold and
Melissa pulls over to the side of the road. In desperation Melissa says: “I
hate this truck. I would sell it for $5.00!” Karen says, I accept, and
throws the five dollars on Melissa’s lap.
Is there a contract?
a) YES because there is an offer and an acceptance.
b) YES because there is an offer and acceptance and it doesn’t matter about the
value of the vehicle.
c) YES because the Courts don’t look at value.
d) NO because Melissa didn’t likely have the true intent to make the offer under
the circumstances. Spring 2020 Business Law Assignment