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Bob the Builder own a construction business.  The is the owner and only employee.  The takes all payments direct to his personal bank account, and he files his taxes as an individual at the end of the year.  Bob did not register his business anywhere, and does not operate under an agreement of any sort.  What kind of business does Bob have?

Shareholders of closely held corporations are often ___________________.

A court generally does not look to the fairness of a contract; however, there is a circumstance when some bargained for exchanges are so unscrupulous that the Court will void the contract. What term does the Court use in this circumstance?

What type of damages are awarded to cover indirect and foreseeable losses?

All of the following are elements of substantial performance, except:

Arrange your pages in order: Q1, Q2, Q3 If you required more than one page for any problem, make a note at the bottom of the problem’s first page, “continued on last page”, and place the continuation work after Page 3. Show each page to the camera, front and back. Scan your pages to Gradescope (ideally using the Gradescope app). Link to the Quiz #2 Gradescope Page here for your convenience. Review your scans: Are they readable? Are they in order? Are they correctly oriented (portrait, not landscape)? Submit work to Gradescope.  Submit this quiz. This should close Honorlock. Remove the Honorlock extension.

What Amendment to the U.S. Constitution applied due process of law to the states?

Specific performance on a contract will generally not be granted unless the legal remedy (monetary damages) is inadequate.

A promise to do something that you already have a legal obligation to do is valid consideration.

A unilateral mistake gives the mistaken party the right to relief from the contract.