Bcom Bachelor of Commerce Business Law 2

Question 1

Which doctrine allows courts to refuse to enforce an unconscionable contract?

Accepted Answer

Unconscionability doctrine

Answer

The unconscionability doctrine lets courts void or modify contracts that are oppressively one-sided or obtained through unfair bargaining.

Question 2

What does 'respondeat superior' mean in business law?

Accepted Answer

An employer is liable for torts committed by employees within the scope of employment

Answer

Respondeat superior is a Latin doctrine holding employers vicariously liable for employees' negligent acts performed during employment.

Question 3

Under the US Statute of Frauds, which contract MUST be in writing to be enforceable?

Accepted Answer

A contract for the sale of real estate

Answer

Contracts for the sale of real property must be written and signed to satisfy the Statute of Frauds.

Question 4

What is an 'injunction' in business litigation?

Accepted Answer

A court order requiring a party to do or stop doing a specific act

Answer

An injunction is an equitable court order compelling or restraining a specific action, often used to prevent irreparable harm.

Question 5

Which of the following is NOT a required element for a valid contract?

Accepted Answer

Written form

Answer

Most contracts can be oral; written form is not universally required unless mandated by the Statute of Frauds.

Bcom Bachelor of Commerce Practice Test