40 minutes , it appeared that both parties were serious so even if Zehme r had no objective intent to sell the farm he is still bound by his actions and the contract was enforceable .
• because the terms were fair , the parties are bound by the contract rega rdless of their intent or capacity . 7- What must Congress do first to establish an administrative agency ?
• obtain judicial approval the creation .
• enact an enabling statute .
• nothing , it is an executive power .
• research if a new agency is needed 8- Which of the following will be a valid defense in a strict products liabil ity case ?
• consent .
• comparative negligence .
• assumption of risk
• contributory negligence . 9- Modern Corporation operates a steel mill . They have never contributed anything to the local community and they knowingly pollute both the air and river that runs by their mill . Their reasoning is that the cost to install pollution control devices would diminish their profits and they d on ' t support the community because they provide jobs and don ' t think t hey owe anything else to the citizens in their area . Donating to the com munity would also diminish profits . Which theory of corporate social r esponsibility are they exhibiting ?
• the narrow view a / k / a invisible hand theory .
• the broad view a / k / a management ' s hand theory .
• the moderate view a / k / a government ' s hand theory .
• the hybrid view a / k / a citizen ' s hand theory . 10- Where a promise can only be accepted by the performance of the perso n to whom it is offered is an example of a / an
• bilateral contract .