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TRUE/FALSE (2 points each) 1. The UCC does not apply to the sale of goods if the value of the goods is less than $500. 2. 3. To be negotiated, bearer paper must simply be delivered. Joe is an employee at will. If Joe quits, he must give the employer two weeks' notice before leaving. Generally, an agent is liable on contracts entered into on behalf of a fully disclosed principal. An insurance broker is an agent of the insurer. Division of markets is considered to be a type of horizontal restraint of trade. 5. 6. 7. A principal can authorize an independent contractor to enter into contracts on its behalf. The UCC imposes a duty of good faith in the performance of all contracts. 8. In Saia y Bay State Gas, the court ruled that the gas company improperly terminated an employee who was injured on the job. 10. Jake gives a check to his landlord for rent. The landlord is the holder of the instrument