QUESTION 15

1. If a buyer breaches a contract while the seller is still possession of the goods the seller can resell the goods and hold the buyer liable for the difference.

   True

   False

1 points

QUESTION 16

1. In choosing a form of business organization for a new enterprise, important factors include the ability to raise capital.

   True

   False

1 points

QUESTION 17

1. The doctrine of Commercial Impracticably does not extend to problems that could have been foreseen.

   True

   False

1 points

QUESTION 18

1. The corporation is a creature of the common law.

   True

   False

1 points

QUESTION 19

1. Eloise is a director for Frozen Yogurt Company. Eloise is also a director for Gelato Desserts, Inc. When the board of Frozen Yogurt considers entering into a contract with Gelato Desserts, Eloise must

   		Do nothing
   		Not sell
   		Make full disclosure of any conflict of interest
   		Resign for one of the boards

1 points

QUESTION 20

1. The term Consideration refers to the legality of the subject matter of the contract.

   True

   False