LAW 421 (Business Law) Final Exam Answers
The LAW 421 final exam is encountered in week 5 of the online Business Law course. The business law exam has a reputation of high difficulty. Unless you're a legal guru, this test will be hard to pass with a good grade. Our tutoring experts have compiled the answers to the entire final exam and made them available in one easy-to-use package. Every topic in this answer guide includes a full explanation and a reference link for additional research if desired.
Update Notes: LAW421 Final Exam Study guide was fully updated on April 21st, 2016. This latest update includes 30 brand new questions, answers, and explanations.
- Two Unique Exam Sets with 30 Answers Each
- Full Explanations for Every Answer (with external references)
- Additional support from ACCNerd.com
Newly Added Answers from 2016
Harry sees a semi-automatic rifle that he likes in a gun shops window. The price asked for it is $2,500. Harry signs a written contract promising to pay the $2,500 on Friday, taking possession of the rifle when payment is made. On Thursday, a law becomes effective making the ownership, sale, or possession of such a semi-automatic rifle illegal. The contract between Harry and the shop
automatically terminates due to impossibility.
Explanation: A law making the ownership of firearms illegal would bring up the doctrine of impossibility. In contrast to impracticality, impossibility occurs when the terms of the document cannot be completed - in this case due to a newly passed law. Bottom line, the contract between Harry and the Gun Store would terminate automatically.
consideration in a sales contract may be modified without additional
consideration under certain circumstances.
Explanation: UCC contracts are able to be modified without additional consideration, assuming good faith on both parties. Events like this may happen if two parties agree that a contract has become burdensome and both desire to change the initial consideration.
Where does the power of preemption come from?
Supremacy Clause of the US Constitution
Explanation: Supremacy puts federal more law above state law, aka Preemption.
Name a major issue with international courts?
It’s difficult to enforce rulings on sovereign nations
Explanation: Sovereign nations have no good reason to follow rulings set in international courts.
1) Which of the following does not result in a decision rendered by the hearing officer?
Jurisprudence is defined as
the science and philosophy of law
The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed. These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by trucks driving in the rain, although data regarding accidents and injuries has not yet been determined. Any truck entering Kansas must have these flaps installed or will be subject to a significant fine and delay. The cost for purchase and installation of these flaps is $1,000 per truck. In short, trucks must have these flaps or go around the state. This Kansas law
is invalid because although on its face it's an intrastate law, this statute will have a significant economic effect on interstate commerce causing an undue burden