A. An offer is not binding until it is

A) available in print form.

B) accepted by both parties.

C) presented to the public.

D) delivered via the U.S. Postal Service.

E) published in a magazine.

B. After common law is revised and adopted by executive agencies legislature enacts what is known as:

A) administrative law.

B) commercial law.

C) federal law.

D) statutory law.

E) constitutional law.

C. A "holder in due course" is:*

A) a third party who does not receive any special privileges due the original payee.

B) a third party who receives any special privileges due the original payee.

C) a third party who may only transfer the negotiable instrument to another payee.

D) the payee's trustee, holding the transaction proceeds in escrow until payment is due.

E) the maker's trustee, holding the transaction proceeds in escrow until payment is due.

D. Alternative Dispute Resolution (ADR) methods use neutral third parties to help adverse parties settle disputes without going to trial. One such method recognized by the courts as "final and binding" with extremely limited grounds for appeal is known as:*

A) mediation.

B) summary mini-trials.

C) conciliation.

D) arbitration.

E) negotiation.

E. An agent is given chemical pesticides with improper instructions for application to the fruit trees owned by a third party. In this case, if damage occurs, the principal's liability is said to be :*

A) indirect

B) direct

C) lateral

D) derived

E) apparent