University of Phoenix Business Law Worksheet

It’s time for the Bizlaw County auction! For each of the auction items listed below, you will (1) determine which type of property the item is and (2) give an identifier that further describes the nature of the item.

A. A ring Hugh received from his grandmother several months before she died

B. A motorbike Ned got from the Harley-Davidson store for $53,000

C. A motorless army jeep left on the plot of land Corey bought

D. A pair of high-quality cleats that Candace found on the football field after a game

E. A Sony Walkman that Mary left in her will for her nephew, Zeppelin

F. The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired

Points:

85

Started on Jul 09 at 08:56

Your Submission:Bookmark question for laterWhich type of property is item A? A ring Hugh received from his grandmother several months before she diedmislaid propertyabandoned propertygiftinherited (bequeathed) propertypurchaseBookmark question for laterWhich identifier describes the nature of item A? A ring Hugh received from his grandmother several months before she diedtangible propertyintangible/intellectual propertyrealtyBookmark question for laterWhich type of property is item B?A motorbike Ned got from the Harley-Davidson store for $53,000mislaid propertyabandoned propertygiftinherited (bequeathed) propertypurchaseBookmark question for laterWhich identifier describes the nature of item B?A motorbike Ned got from the Harley-Davidson store for $53,000tangible propertyintangible/intellectual propertyrealtyBookmark question for laterWhich type of property is item C?A motorless army jeep left on the plot of land Corey boughtmislaid propertyabandoned propertygiftinherited (bequeathed) propertypurchaseBookmark question for laterWhich identifier describes the nature of item C?A motorless army jeep left on the plot of land Corey boughttangible propertyintangible/intellectual propertyrealtyBookmark question for laterWhich type of property is item D?A pair of high-quality cleats that Candace found on the football field after a gamemislaid propertyabandoned propertygiftinherited (bequeathed) propertypurchaseBookmark question for laterWhich identifier describes the nature of item D?A pair of high-quality cleats that Candace found on the football field after a gametangible propertyintangible/intellectual propertyrealtyBookmark question for laterWhich type of property is item E?A Sony Walkman that Mary left in her will for her nephew, Zeppelinmislaid propertyabandoned propertygiftinherited (bequeathed) propertypurchaseBookmark question for laterWhich identifier describes the nature of item E?A Sony Walkman that Mary left in her will for her nephew, Zeppelintangible propertyintangible/intellectual propertyrealtyBookmark question for laterWhich type of property is item F?The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retiredmislaid propertyabandoned propertygiftinherited (bequeathed) propertypurchaseBookmark question for laterWhich identifier describes the nature of item F?The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retiredrealtytangible propertyintangible/intellectual propertyBookmark question for laterWhich of the following is not true of offers?If a counteroffer is accepted, the original offer is terminated.An offeree’s silence may be counted as an agreement.An offeree may reject an offer and present a counteroffer.An offer may be terminated immediately if the offeree refuses it.Bookmark question for laterWhich of the following constitutes grounds for canceling a contract?mutual mistake of valueunilateral mistake of factbilateral mistake of valuemutual mistake of factBookmark question for later_________________ damages are designed to punish someone for breaching a contract and are usually only available in fraud or bad faith cases.ConsequentialCompensatoryPunitiveNominalBookmark question for laterWhich of the following contracts is required to be in writing?a contract for the sale of a bicycle for $200a contract for the lease of a motorcycle with payments of $500a prenuptial agreementa contract for the sale of a bed for $350Bookmark question for laterA valid contract must include all of the following except which one?assentlegalityagreementmutual respectBookmark question for laterThe __________ rule states that an offer made by one merchant to another may remain open for a set time during which it cannot be revoked.firm offerparol evidencemain purposemirror imageBookmark question for laterA person who owes a duty under a contract is called a(n) _________________.assignorobligordelegatorofferorBookmark question for laterA person who is owed a right under a contract is called a(n) _________________.offereedelegateeassigneeobligee