Which of the following is true of consideration for modifying a sales or lease contract under the Uniform Commercial Code?
A) An agreement modifying a contract needs no consideration to be binding.
B) Modifying a contract requires consideration from the offeree's side.
C) An offeror who modifies a contract must do so by providing reasonable consideration.
D) The party providing the consideration must complete it within three months of acceptance.
A
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As industry output increases, suppose that new knowledge about production technology spreads among firms in the area through direct contacts among firms or as workers transfer from firm to firm. Which concept does this example demonstrate?
a. internal economies of scale b. external economies of scale c. the home market effect d. specialization in production
A violation in which the employer knew that hazardous condition existed but made no effort to eliminate the hazard is known as a _______ violation.
A. serious B. mistaken C. minimum D. willful E. None of the above
When is the parol evidence rule used in contracts?
A) when a written confirmation has not been sent for an oral contract B) when the party against whom the enforcement of an oral contract is sought has not admitted of such a contract in pleadings C) when an oral modification is required in a written contract D) when there is a written statement that contradicts an agreed-on written contract
Ego conflict is
a. a form of simple conflict. b. damaging to relationships. c. easy to resolve. d. none of these choices.