1. Based upon your reading of the George v. Davoli case, which statement best describes the holding of the NY Supreme Court, Appellate Division?
A Oral evidence that supplements a written agreement that is not final and complete was admissible.
B Oral evidence of the time of delivery of a good is always admissible to supplement a written agreement.

C All oral, mutual agreements of the parties were admissible to supplement any written agreement.
D Where a written agreement is final and complete, evidence of an oral agreement to supplement the written agreement was admissible.


2. Which of the following statements about the parol evidence rule is false?
A Does not apply to subsequent agreements.
B Does not apply to contemporaneous agreements.
C By majority rule, contemporaneous oral terms should be deemed to be a part of the integration and therefore be admissible into evidence.

D Bars the admissibility of extrinsic evidence of a contract term agreed to prior to a total integration regardless of whether the term is written or oral.

3. Which of the following is the strongest reason why a court would consider a writing to be the final embodiment of an agreement?
A If the parties intended the writing to be a final embodiment of the agreement, there is at least a partial integration and the writing can only be contradicted if the parties have actually agreed to the inconsistent terms.
B If a writing is not a final embodiment of the contract, the parol evidence rule applies.
C To determine if a writing is a final embodiment, a court looks to the intent of the parties.
D The completeness of the agreement has little bearing on whether the agreement is deemed final.

 
4. In the Gianni v. R. Russell & Co. case, referred to in Section 3.2 (a) of the hornbook, which of the following statements best reflects the court’s holding?
A The evidence was excluded because of the parol evidence rule.
B The evidence was excluded because it was oral.

C The evidence was admissible because of the parol evidence rule.
D The evidence was admissible because the agreement was actually made.

1. Which of the following states one of Williston’s Rules regarding the parol evidence rule?
Based upon the Nanakuli Paving and Rock Co. v. Shell Oil Co. case, which of the following statements is true?
A The court limited the interpretation of the contract terms to the “four corners” of the written agreement.
B The case applied the common law in a way “to promote flexibility in the expansion of commercial practices.”
C The parties’ course of performance was more important than trade usage to determine the terms of an agreement.

D The court refused to consider the “entire commercial context of the agreement.”

2. Which of the following states the best definition of the parol evidence rule?
A Agreements that are not in writing are invalid.
B A final agreement supersedes tentative terms discussed in earlier negotiations.
C Parol evidence is not admissible for contracts involving the purchase of land.

D Proposed, oral terms of a contract cannot become part of the final agreement.

3. Which of the following statements is NOT true regarding course of dealing, course of performance and usage?
A These topics are not applicable at common law.
B A party engaged in a trade is bound by the usages of that trade even if that party has no knowledge of the trade usage in question.

C At common law, a course of dealing is admissible whenever extrinsic evidence is admissible.
D Under the UCC, trade usage and course of dealing are always admissible, but the evidence is not always controlling.

4. Which of the following statements about the parol evidence rule is false?
A A writing that is final integrates the terms embodied in it.
B A writing intended by the parties to be a final embodiment of their oral agreement should be protected from attack by evidence of contradictory prior or contemporaneous agreements.
C Oral evidence of a term not in the written agreement is not admissible.
D The parol evidence rule applies when the last expression is a written and binding contract.

1. Which of the following statements is true regarding questions of admissibility of parol evidence?
A These are always questions of fact for the trier of fact to determine.
B The meaning of language is generally considered a question of fact, but the interpretation of a writing is generally treated as a question of law for the court to decide.
C Where parol evidence is introduced to aid interpretation of a writing, the question of meaning is always left to the jury.
D In an oral agreement where the words of the parties are not in dispute, the court will apply rules that differ significantly from rules regarding a written contract.


2. Which of the following statements is NOT true regarding non-contractual writings?
A Parol evidence is admissible to show that a writing that appears to be a contract was never formed.
B A party may testify that what appears to be a total integration was a non-final agreement.
C Parol evidence of fraud is admissible to avoid a written agreement unless there is a merger clause.
D Even if the writing stated that consideration was paid and described the consideration, the majority rule is that such a “recital of consideration” may be contradicted by parol evidence.


3. Which of the following statements about integration is true?
A A partial integration may be contradicted by parol evidence.
B A total integration may be supplemented, but not contradicted by consistent (non-contradictory) additional terms.
C A final and incomplete integration may not be supplemented by consistent additional terms.
D A writing that is final and incomplete is called a partial integration.

4. Which of the following is the strongest reason why a court would consider a writing to be the final embodiment of an agreement?
A If the parties intended the writing to be a final embodiment of the agreement, there is at least a partial integration and the writing can only be contradicted if the parties have actually agreed to the inconsistent terms.
B If a writing is not a final embodiment of the contract, the parol evidence rule applies.
C To determine if a writing is a final embodiment, a court looks to the intent of the parties.
D The completeness of the agreement has little bearing on whether the agreement is deemed final.

1. Stocks A and B have the following data. Assuming the stock market is efficient and the stocks are in equilibrium, which of the following statements is CORRECT? Please use the given general Dividend Growth Model formulas to help you answer the question.
Stock Price per share at Year 0 = [Dividends per share ("DPS") expected for Year 1]
divided by
[Required Return less Dividend Growth Rate g]
Required Return = DPS/Price + g
Common stock: A B
Required Return........................ 15.00% 16.00%
Market Price.............................. $25.00 $40.00
Expected Dividend growth rate.... 6.00% 9.00%
What is the Dividend Yield for these two stocks?
A. 8.00% for A and 5.00% for B.
B. 3.00% for A and 3.00% for B.
C. These two stocks should have the same expected return.
D. 9.00% for A and 7.00% for B.

2. Wilson-Smith Inc.'s capital structure is briefly described below. Compute the company's Weighted Average Cost of Capital ("WACC"). The company's marginal income tax rate is 28%.
Capital % of Capital Structure Pre-Tax Cost
Bonds...............35%.........................6.80%
Preferred Stock..15%.........................9.50%
Common Stock..50%........................23.00%


A. 16.70%
B. 14.64%
C. 18.40%

D. 14.59%

3. Diana is looking at two investment opportunities which have the following expected cash flows. If her minimum required return is 16%, which proposal would be the best based on what appears to be the best evaluation method?
Investment A Investment B
Year 0.........................................$ (567,000) $ (567,000)
Year 1.........................................$ 154,000 $ 156,000
Year 2.........................................$ 287,000 $ 291,000
Year 3.........................................$ 260,000 $ 290,000
Year 4.........................................$ 155,000 $ 145,000
A. Neither proposal would add value.
B. Choose Proposal A because it has the highest IRR.
C. Choose Proposal B because it has the highest NPV.
D. Chyoose Proposal A because it has the highest NPV.

E. Choose Proposal B because it has the highest IRR.

 

4. Wilson-Smith Inc.'s capital structure is briefly described below. Compute the company's Weighted Average Cost of Capital ("WACC"). The company's marginal income tax rate is 28%.
Capital % of Capital Structure Pre-Tax Cost
Bonds...............35%.........................6.80%
Preferred Stock..15%.........................9.50%
Common Stock..50%........................23.00%


A. 16.70%
B. 14.64%
C. 18.40%

D. 14.59%

1. Scientists believe that modern humans appeared during the _______ epoch.
A. Pleistocene
B. Pliocene

C. Miocene
D. Paleocene

2. In a population of horses, an extreme phenotype is favored and the distribution of genes in that population shifts toward that phenotype. This process is called _______ selection
A. random
B. stabilizing
C. disruptive
D. directional

3. Which of these creatures are annelids?
A. Gastropods
B. Earthworms
C. Planarians

D. Sponges

4. Which of the following is a type of archaea?
A. Algae
B. Mold
C. Halophiles
D. Spirilum

 

 

    • 6 years ago
    Please see attached file for answers

    Purchase the answer to view it

    • attachment
      1solutions.doc