Which of the following statements is true of interpreting contract words and terms?
A) Where a preprinted form contract is used, preprinted words prevail over typed words.
B) Preprinted words prevail over handwritten words.
C) Specific terms are presumed to qualify general terms.
D) If there is an ambiguity in a contract, the ambiguity will be resolved in favor of the party who drafted the contract.
C
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Scenario A. Chelsea leaves her job at a car manufacturing company and starts her own business. Her objective is to attain maximum growth and earn high profits. Jessica, her friend, who also works at the car manufacturing company has started a business venture utilizing the resources of the company. Henry, her colleague, states that he would make a successful entrepreneur as he is a gambler, and believes that a good idea and talent leads to success within a year. He has also scored 665 in his SATs.Chelsea's objectives for her business is to attain high growth and profits, which is an example of a(n) ________.
a. joint venture b. skunkworks c. entrepreneurial venture d. small business e. business incubator
A salesperson negotiated the sale of a house for a builder. Because the house had been on the market for a long time, the builder offered to give the salesperson a television as a bonus. Which of the following is true about this situation?
A. The salesperson can accept the bonus only if he notifies the purchaser. B. The salesperson can accept the bonus only with the knowledge and consent of the broker holding the license. C. Because the value of the bonus is nominal, the salesperson can accept it without notifying anyone. D. The salesperson cannot accept the bonus under any circumstances because that would be an unfair trade practice.