Business Law - Chapter 10

Agreements to commit felonies are:

• Legal
• Illegal

Charging more than the maximum interest rate is:

• Bid rigging
• Unconscionable
• Usury
• Compounding a crime

What does it mean for a contract to be "within the Statute of Frauds"?

• It can be orally made
• It must be in writing

Which of these is an agreement that restrains trade/competition?

• Price fixing
• Bid rigging
• Allocation of markets
• All of these

In this type of contract, legal and illegal parts can NOT be separated:

• Divisible
• Indivisible

If a contract does not need to be in writing, it is said to be:

• "Outside the Statute of Frauds"
• "Without the Statute of Frauds"
• "Within the Statute of Frauds"
• None of these

This occurs when competitors divide markets among themselves:

• Allocation of markets
• Bid rigging
• Price fixing
• Usury

This happens when someone refrains from informing on/prosecuting an alleged crime in exchange for money or something of value:

• Usury
• Bid rigging
• Compounding a crime
• Price fixing

Under the Statute of Frauds, a contract for the sale of goods must be in writing if it is dealing with this amount:

• $1000+
• $500+
• $10+
• $5000+

How many types of executory contracts are "within the Statute of Frauds"?

• 4
• 5
• 6
• 10