Problem 1. Explain the difference between law and morals.
Problem 2. Explain the difference between situational ethics and rational ethics.
Problem 3. Identify the two parts of the U.S. Constitution.
Problem 4. Define the Uniform Commercial Code (UCC).
Problem 5. Define the purpose of Tort law.
Problem 6. Define the term "contract."
Problem 7. Identify the five elements of the formalist theory of contract law.
Problem 8. Explain the difference between an express and an implied contract.
Problem 9. Match the term with its definition: Offer, Acceptance, Counteroffer, Mirror Image Rule, Implied Acceptance.
Problem 10. Explain the difference between fraud and misrepresentation.
Problem 11. Define the term "undue influence."
Problem 12. Define the term "capacity."
Problem 13. Define the term "consideration."
Problem 14. Identify the types of consideration.
Problem 15. Define the Statute of Frauds
Problem 16. The six contracts that the Statue of Frauds requires to be in writing.
Problem 17. Define the nature of agency.
Problem 18. Responsibility of the principal for the agent's act when the agent performs duties with a third party.
Problem 19. The range of activities for which the servant is engaged.
Problem 20. Define the standard concerning criminal liability in the principal / agent relationship.
Problem 21. Identify the six ways an agency relationship may be created.
Problem 22. Explain the differences between express, implied, and apparent authority.
Problem 23. Define the term "vicarious liability."
Problem 24. Identify the obligations of the agent to the principal.
Problem 25. Identify the obligations of the principal to the agent.
Problem 26. Match the term with its definition: Fulfillment of purpose, Mutual Agreement, Revocation/Renunciation.
Problem 27. Explain the difference between assignment and delegation.
Problem 28. Explain the difference between complete and substantial performance.
Problem 29. Define the term "goods."
Problem 30. Identify the element that the Uniform Commercial Code (UCC) obligates to every imposed contract or duty.
Problem 31. Define the Convention on Contracts for the International Sale of Goods.
Problem 32. Determine if goods must be identified to the contract before title can be transferred to the buyer.
Problem 33. Define the Document of title.
Problem 34. Define the term "commercial unit."
Problem 35. Define the term "anticipatory breach."
Problem 36. Identify the types of warranty protection.