What is FALSE about arbitration?

A.The arbitrator can make a legally binding decision

B.Typically, the rules of evidence are not as strictly followed as they are in the traditional courts

C.There always will be a traditional jury in an arbitration proceeding

D.The right and duty to arbitrate arises from a contractual agreement between the parties.

The act by which one party, by words or conduct, unequivocally indicates her inability or unwillingness to perform the contract is called:

A.Synthesis.

B.Breach.

C.Anticipatory breach.

D.Illusory performance.

Which of the following is true?

A.Offers may not be legally revoked before they are accepted under U.S. law since it would be unethical to do so.

B.An express contract must be in a formal writing prepared by an attorney.

C.Parties cannot form a contract without putting the terms in writing.

D.An executed contract is one that has been fully performed by all the parties to the contract.

For which of the following warranties must the seller be a merchant?

A.Express warranties.

B.Implied warranty of merchantability.

C.Implied warranty of fitness for a particular purpose.

D.Implied warranty of title.