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BUYING AND SELLING

Total questions: 23

Worksheet time: 11mins

Name
Class
Date
1.
AGREEMENT made this second day of Novemeber, 2008, between KFC, Inc ______________ as "Seller", a Kentucky corporation having its offices at Melrose 234...
a)
Hereinafter referred to
b)
Called in the future
c)
Named after
d)
Known above as
2.
FIRST: Seller is ___________ selling and Buyer is hereby purchasing the following assets ("Assets") of Seller at the price, terms and conditions hereinafter set forth:
a)
Here of
b)
Here by
c)
Here to
d)
Here
3.
All accounts receivable owned by Seller ________ July 5, 2008 as listed on "Schedule A," annexed hereto and made a part hereof.
a)
As of
b)
The
c)
In
d)
At
4.
All right, title and interest _________ the name Robert J. Rosa, which name Seller warrants and represents to be the only trade name and trademark used by Seller in the course of its business.
a)
In and to
b)
On
c)
Of
d)
From
5.
All inventory listed on "Schedule B" annexed hereto and made a part _________. Seller represents that said inventory provides certain of the parts, supplies and other items necessary to fill the orders listed on "Schedule C" hereof.
a)
Herewith
b)
Here of
c)
Here Under
d)
Here In
6.
A contract that amounts to nothing and has no legal effect is 
a)
unenforceable
b)
voidable
c)
void
d)
unilateral
7.

All of the following are elements of a contract EXCEPT:

a)

accepatance

b)

offer

c)

breach

d)

consideration

8.

A contract between two parties for illegal activities is not valid.

a)

True

b)

False

9.

Which of the following is a contract?

a)

Betty offers to give a book to Lou. Lou accepts.

b)

Betty offers Lou the book in exchange for Lou’s promise to pay $10. Lou accepts.

c)

Betty offers to give Lou the book for $10, Lou refuses.

d)

None of the above

10.

If a seller sells a new product without a written warranty, there are

a)

no warranties

b)

limited warranties

c)

full warranties

d)

implied warranties

11.
A(n) _____ is an attempt to limit the seller's responsibilities if something goes wrong with a product.
a)
express warranty
b)
strict liability
c)
disclaimer
d)
implied warranty
12.

What is required to form a legally binding contract?

a)

Offer, Acceptance, Consideration, Intention, Certainty.

b)

Duty, Breach, Causation, Damages

c)

Offer, Acceptance, Collateral, Sufficiency.

d)

Invitation to treat, Offer, Counter Offer, Acceptance.

13.
___ polite
a)
Un
b)
Im
c)
Dis
d)
De
14.
______ approve
a)
In
b)
Anti
c)
Dis
d)
Im
15.
____ behave 
a)
Mis
b)
Anti
c)
Dis
d)
In
16.
_____ logical
a)
Anti
b)
Il
c)
Ir
d)
Un
17.
_____ advantage
a)
De
b)
Dis
c)
Anti
d)
Un
18.
She was    ____ able to take the test because she was really sick.
a)
Un
b)
Dis
c)
De
d)
Anti
19.
The accident caused _____ reparable damage to his car.
a)
Un
b)
De
c)
Ir
d)
Il
20.
I believe this information is ____accurate. This cannot be true.
a)
Mis
b)
In
c)
Il
d)
Ir
21.
It's extremely ______likely I'll do well on this test. I didn't study a thing.
a)
De
b)
Im
c)
Un
d)
Mis
22.
She _____ understood me. 
a)
De
b)
Mis
c)
Anti
d)
Un
23.
You are an _____ possible person!
a)
Anti
b)
Im
c)
Il
d)
Un

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