Answer the following mutiple choices about business law

1. In relation to exclusion clauses,

which of the following describes the contra proferentem rule?( )

A Exclusion clauses are valid unless unreasonable.

B Any ambiguity in exclusion clauses are interpreted against the person seeking to rely on them.

C Exclusion clauses must be validly incorporated into the contract.

2. Which two of the following statements regarding contractual terms are correct?

(1) The principle of freedom of contract states that parties may include in their contract any terms that they see fit.

(2) To be valid, a contract must be complete in its terms.

(3) Third parties may not determine an essential term of the contract.

(4) Where a term is classified as a condition, the only remedy to an injured party if it is breached is to claim damages

A1 and 2 B1 and 4 C2 and 3 D 2 and 4

3. Which of the following statements concerning the Unfair Terms in Consumer Contracts Regulations 1999 is correct?

A The regulations only apply to consumer contracts.

B The regulations only apply to terms that have been individually negotiated

C The regulations allow a company to be classed as a consumer.

D The regulations allow a natural person who is acting in the course of their business to be classed as a consumer.

4. Which of the following statements in relation to liquidated damages is correct?)

A Liquidated damage clauses are void and unenforceable in contract law.

B Liquidated damage clauses must be highlighted in the contract.

C The purpose of liquidated damage clauses is to deter potential breaches of contract.

D Liquidated damages are only payable where a condition of a contract is breached.

5. In the tort of negligence, what is the effect of volenti non fit injuria?)

A The defendant is liable for the claimant's injury unless proved otherwise.

B The claimant accepted the risk of injury and the defendant is not liable for the claimant's losses.

C Neither the claimant nor the defendant is responsible for the claimant's injury.