Practice Multiple choice test for Business law, Need help answering these questions for final exam review. Just answer with A, B, C, or D.

7. If ill agrees to roof Jophn's house in exchange for John re-wiring Bill's house, they have entered contract; a. unilateral. b. bilateral. c. voidable. d. unenforceable. 8. FacePage and HB Automotive are parties to a contract. They later agree t assumes all of FacePage's rights and duties under the contract and HB agrees to look only to OC Metrics for performance and not FacePage. This later agreement is known as an agrement to rescind a. b. a novation an accord and satisgaction a settlement agreement c. d. Business Properties (BP), delivers a written offer to sell a warehouse toC 9. Corporate then pays BP $1.000 to not revoke the offer through 5:00 p.m. on April 16,2018. BPI accepts the $1,000 fee and cashes the check, which causes BPI's offer to terminate. makes BPI's offer irrevocable for the time stated. amends BPI's offer by changing a term. acts as a counter offer. a. b. c. d. Joe makes a written offer by email to Sam to purchase Sam's baseball card collection for $1,000. If the offe 10. does not have an expiration date, the offer stays oper for one day for a reasonable period until accepted or rejected none of the above a. b. c. d. Quality Aluminum Corporation files a suit against Rite Tool Company, claiming that the consideration their contract is inadequate. The court will most likely not examine the adequacy of the consideration i a. it is obvious that the consideration is adequate. b. Rite Tool asserts that there is adequate consideration. c. something of value was exchanged between the parties d. the consideration is worth more than $100. 11. Under a contract with Napa Sonoma Winery, Agro Excavation, Inc., begins digging ah a pond for mid-project, Agro asks for an additional $5,000 claiming an increase in the "cost of doing busine 12. a. unenforceable because the extra payment was for a preexisting duty b. unenforceable because that promise was illusory and made under duress. c. enforceable d. unenforceable because its performance is unforeseeably difficult. Sonoma agrees, but later refuses to pay. Their agreement is 2 7. If ill agrees to roof Jophn's house in exchange for John re-wiring Bill's house, they have entered contract; a. unilateral. b. bilateral. c. voidable. d. unenforceable. 8. FacePage and HB Automotive are parties to a contract. They later agree t assumes all of FacePage's rights and duties under the contract and HB agrees to look only to OC Metrics for performance and not FacePage. This later agreement is known as an agrement to rescind a. b. a novation an accord and satisgaction a settlement agreement c. d. Business Properties (BP), delivers a written offer to sell a warehouse toC 9. Corporate then pays BP $1.000 to not revoke the offer through 5:00 p.m. on April 16,2018. BPI accepts the $1,000 fee and cashes the check, which causes BPI's offer to terminate. makes BPI's offer irrevocable for the time stated. amends BPI's offer by changing a term. acts as a counter offer. a. b. c. d. Joe makes a written offer by email to Sam to purchase Sam's baseball card collection for $1,000. If the offe 10. does not have an expiration date, the offer stays oper for one day for a reasonable period until accepted or rejected none of the above a. b. c. d. Quality Aluminum Corporation files a suit against Rite Tool Company, claiming that the consideration their contract is inadequate. The court will most likely not examine the adequacy of the consideration i a. it is obvious that the consideration is adequate. b. Rite Tool asserts that there is adequate consideration. c. something of value was exchanged between the parties d. the consideration is worth more than $100. 11. Under a contract with Napa Sonoma Winery, Agro Excavation, Inc., begins digging ah a pond for mid-project, Agro asks for an additional $5,000 claiming an increase in the "cost of doing busine 12. a. unenforceable because the extra payment was for a preexisting duty b. unenforceable because that promise was illusory and made under duress. c. enforceable d. unenforceable because its performance is unforeseeably difficult. Sonoma agrees, but later refuses to pay. Their agreement is 2