January 10th, 2020 
- Which type of property is item A?
A ring Hugh received from his grandmother several months before she died- mislaid property
- abandoned property
- gift
- inherited (bequeathed) property
- purchase
- Bookmark question for laterWhich identifier describes the nature of item A?
A ring Hugh received from his grandmother several months before she died- tangible property
- intangible/intellectual property
- realty
- Bookmark question for laterWhich type of property is item B?
A motorbike Ned got from the Harley-Davidson store for $53,000- mislaid property
- abandoned property
- gift
- inherited (bequeathed) property
- purchase
- Bookmark question for laterWhich identifier describes the nature of item B?
A motorbike Ned got from the Harley-Davidson store for $53,000- tangible property
- intangible/intellectual property
- realty
- Bookmark question for laterWhich type of property is item C?
A motorless army jeep left on the plot of land Corey bought- mislaid property
- abandoned property
- gift
- inherited (bequeathed) property
- purchase
- Bookmark question for laterWhich identifier describes the nature of item C?
A motorless army jeep left on the plot of land Corey bought- tangible property
- intangible/intellectual property
- realty
- Bookmark question for laterWhich type of property is item D?
A pair of high-quality cleats that Candace found on the football field after a game- mislaid property
- abandoned property
- gift
- inherited (bequeathed) property
- purchase
- Bookmark 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 game- tangible property
- intangible/intellectual property
- realty
- Bookmark question for laterWhich type of property is item E?
A Sony Walkman that Mary left in her will for her nephew, Zeppelin- mislaid property
- abandoned property
- gift
- inherited (bequeathed) property
- purchase
- Bookmark question for laterWhich identifier describes the nature of item E?
A Sony Walkman that Mary left in her will for her nephew, Zeppelin- tangible property
- intangible/intellectual property
- realty
- Bookmark 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The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired- mislaid property
- abandoned property
- gift
- inherited (bequeathed) property
- purchase
- Bookmark 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 retired- intangible/intellectual property
- realty
- tangible property
- Bookmark question for laterWhich of the following is not true of offers?
- An offerees silence may be counted as an agreement.
- If a counteroffer is accepted, the original offer is terminated.
- An offer may be terminated immediately if the offeree refuses it.
- An offeree may reject an offer and present a counteroffer.
- Bookmark question for laterWhich of the following constitutes grounds for canceling a contract?
- mutual mistake of value
- bilateral mistake of value
- mutual mistake of fact
- unilateral mistake of fact
- Bookmark question for later_________________ damages are designed to punish someone for breaching a contract and are usually only available in fraud or bad faith cases.
- Nominal
- Punitive
- Consequential
- Compensatory
- Bookmark question for laterWhich of the following contracts is required to be in writing?
- a contract for the sale of a bicycle for $200
- a contract for the lease of a motorcycle with payments of $500
- a contract for the sale of a bed for $350
- a prenuptial agreement
- Bookmark question for laterA valid contract must include all of the following except which one?
- mutual respect
- legality
- agreement
- assent
- Bookmark 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 offer
- main purpose
- mirror image
- parol evidence
- Bookmark question for laterA person who owes a duty under a contract is called a(n) _________________.
- assignor
- delegator
- obligor
- offeror
- Bookmark question for laterA person who is owed a right under a contract is called a(n) _________________.
- delegatee
- offeree
- assignee
- obligee
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