Question 1

What is contractual capacity, and why is it important? What are some situations in which a court might consider whether contractual capacity is lacking or questionable?

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Question 2

The exclusive right of an author or other creator to publish, print, or sell an intellectual production for a statutory period of time is called a

Accepted Answer

Copyright is the legal right granted to an author or creator to publish, print, sell, or distribute their original work for a certain period of time, protecting it from unauthorized use.

Question 3

List and define the defenses to a breach-of-contract action. Give examples of the use of each defense.

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Question 4

Define intellectual property. List and describe four categories of intellectual property covered in the text.

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Question 5

Describe how online offers can be made and accepted.

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Question 6

What are the four basic requirements for the formation of a valid contract?

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Question 7

When can you argue that because of a mistake, there is no contract?

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Question 8

Complete performance of the duties required under a contract is the most common way to terminate those duties. Describe three situations in which-less-than complete performance may be acceptable.

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Question 9

Property that consists of the products that result from a person's intellectual, creative processes, such as literary works, artistic works, or computer software are referred to as which of the following?

Accepted Answer

Intellectual property refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce. It is distinct from real property (land and buildings) and personal property (physical possessions other than real estate).

Question 10

The right to protect business processes and information that cannot be otherwise protected under the intellectual property laws is called _____protection.

Accepted Answer

Trade secret protection is used to safeguard business processes and information that do not qualify for protection under other intellectual property laws, such as patents or copyrights. This includes formulas, practices, designs, instruments, or compilations of information that are not widely known and provide a competitive advantage.

Question 11

Which of the following may, under certain circumstances, be grounds for termination of a party's duties under a contract?

Accepted Answer

All of these choices can be grounds for termination of a party's duties under a contract, depending on the specific circumstances and the governing law. Substantial performance refers to a situation where nearly all the terms of the contract have been met, impossibility of performance occurs when it is literally impossible to fulfill the contract terms due to unforeseen events, and commercial impracticability means that fulfilling the contract has become unreasonably burdensome or expensive.

Question 12

What does "adequacy of consideration" mean in contract law? Do courts care if consideration is adequate?

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Question 13

What is a warranty? List and define the warranties required by the UCC. Give examples of each type of warranty.

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Question 14

Can a seller disclaim or limit warranties required by the UCC? If so, explain how.

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Question 15

What are the required elements of promissory estoppel? If these requirements are met, must you still prove there was consideration?

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Question 16

The government grant that gives an inventor the exclusive right or privilege to make, use, or sell his or her invention for a limited period of time is called a

Accepted Answer

A patent is the correct term for a government grant that gives an inventor exclusive rights to their invention for a limited period, typically 20 years from the filing date of the patent application.

Question 17

Under the Statute of Frauds, which types of contracts are required to be in writing?

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Question 18

What is a trade secret? How long does it have protection? How do businesses protect their trade secrets with respect to their own employees?

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Question 19

What types of tasks do paralegals specializing in contract law perform?

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Question 20

Describe compensatory, incidental, consequential, and liquidated damages for breach of contract.

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Quiz 15: Contracts and Intellectual Property Law