Cattle House Steaks, a Colorado Company, Enters into a Contract

question 15

Multiple Choice

Cattle House Steaks, a Colorado company, enters into a contract over the phone with Beef Packing Inc., an out-of-state corporation. If a dispute arises, a Colorado court can exercise jurisdiction over Beef Packing

• A)under the minimum-contacts test.
• B)on the basis of a federal question.
• C)in no circumstances.
• D)only if Beef Packing files the suit.

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Definitions:

Instrument

Refers to a legal document formalizing an agreement or right, often used in financial transactions.

Certified Check

A check that is accepted by the bank from which the funds are drawn.

Accepted

A term indicating that an offer has been formally agreed to, creating a binding contract between parties.

Check

A special draft that orders a bank (the drawee) to pay a specified sum of money to the payee from the drawer’s account.