Question 1

Jennifer has offered to sell her computer for $1750 to Jack.She tells Jack that the computer is only six months old but,in fact,the computer is three years old,and Jennifer wants to unload the lemon.Jack agrees to buy the computer based on Jennifer's representations.This contract is:

Accepted Answer

A)  a void agreement because of the fraud involved.
B)  a voidable contract, one that Jack can void.
C)  a voidable contract, one that Jennifer can void.
D)  void according to the UCC. B

Question 2

One of the factors leading courts away from a laissez-faire approach to contract law was:

Accepted Answer

A)  the movement away from requiring a writing and a seal on contracts.
B)  a change in relative bargaining power between parties to contracts.
C)  the assumption that promises are not legally significant.
D)  the assumption that parties had freedom to contract and would have to live with the consequences.

Question 3

Which of the following statements about quasi-contracts is true?

Accepted Answer

A)  The plaintiff gave some benefit to the defendant.
B)  The plaintiff reasonably expected to be paid for the benefit and the defendant knew this.
C)  The defendant would be unjustly enriched if he did not pay.
D)  All of the above.

Question 4

The common law governs contracts for:

Accepted Answer

A)  services.
B)  real estate.
C)  employment.
D)  All of the above.

Question 5

Dawn and Isaac sign a contract in which Dawn agrees to deliver 8 bags of flour in exchange for Isaac's promise to pay $25 per bag.Dawn delivers the flour.Isaac pays for the goods.This contract is fully executory.

Accepted Answer

A) True 
 B)False

Question 6

What is not required to establish promissory estoppel?

Accepted Answer

A)  A promise made by the defendant.
B)  A promise made by the plaintiff in response to the defendant's promise.
C)  Reliance on the defendant's promise.
D)  Enforcing the promise is the only way to avoid injustice.

Question 7

The courts will find an implied contract when:

Accepted Answer

A)  there is no written agreement.
B)  conduct of the parties indicates they intended an agreement.
C)  there is promissory estoppel.
D)  the contract is executory but not executed.

Question 8

On January 16,Deb offers to sell her waterbed to Colleen for $600.Colleen accepts and agrees to pay Deb $600 on January 27.Which of the following is correct?

Accepted Answer

A)  On January 16, the contract was executory.
B)  On January 16, the contract was executed.
C)  This contract is a unilateral contract.
D)  There is no contract until one party performs. A

Question 9

Which of the following represents a unilateral offer?

Accepted Answer

A)  "I will pay you $50 if you mow my lawn."
B)  "I am willing to shovel your driveway if you accept to pay me $50."
C)  "I will pay you $50 for your CD player."
D)  "Your backpack is probably worth $50."

Question 10

Discuss the requirements of promissory estoppel.

Accepted Answer

Promissory estoppel is an equitable reme...

Question 11

Erin goes into Great Buy Electronics store and purchases a TV.She agrees to pay for the TV in 30 days on the store's "30 days same as cash" plan.This is an executed contract.

Accepted Answer

A) True 
 B)False  False

Question 12

Alex promises to pay $100 to anyone who finds his lost watch.Kate finds and returns the watch to Alex after hearing of the reward money.Alex and Kate have an enforceable unilateral contract.

Accepted Answer

A) True 
 B)False

Question 13

Contracts that do not arise from mutual agreement but are created by courts to avoid unjust enrichment are:

Accepted Answer

A)  express contracts.
B)  implied contracts.
C)  quasi-contracts.
D)  unilateral contracts.

Question 14

Which of the following statements about an express contract is true?:

Accepted Answer

A)  It must be in writing.
B)  It may be inferred by the conduct of the parties involved.
C)  The two parties explicitly state all important terms of their agreement.
D)  None of the above.

Question 15

Under a contract,Danielle is required to make a set of draperies out of fabric chosen by the homeowners,the Flynns.After Danielle makes the draperies according to the contract requirements,her duties under the contract are discharged.

Accepted Answer

A) True 
 B)False

Question 16

The basic distinction between a bilateral contract and a unilateral contract is that:

Accepted Answer

A)  only one promise is involved in a bilateral contract.
B)  only one promise is involved in a unilateral contract.
C)  the Statute of Frauds applies to one and not the other.
D)  one is enforceable, the other is not.

Question 17

Which of the following types of property would be goods under the Uniform Commercial Code?

Accepted Answer

A)  A promissory note.
B)  A stock.
C)  A patent.
D)  A computer.

Question 18

As English judges were developing the common law of contracts in the twelfth and thirteenth centuries:

Accepted Answer

A)  most promises were found to be enforceable.
B)  promises were found not binding unless written and sealed.
C)  the term "contract" became common.
D)  changes in the law occurred rapidly.

Question 19

A quasi-contract is the legal designation of an oral contract.

Accepted Answer

A) True 
 B)False

Question 20

Walter enters a dentist office and points to a damaged tooth.The dentist,Matt,treats the tooth.If Walter refused to pay and Matt sued:

Accepted Answer

A)  Walter would win as there was no contract.
B)  Walter would win because of the UCC.
C)  Matt would win; this is an implied contract.
D)  Matt would win in quantum meruit.

Exam 9: Introduction to Contracts

Jennifer has offered to sell her computer for $1750 to Jack.She tells Jack that the computer is only six months old but,in fact,the computer is three years old,and Jennifer wants to unload the lemon.Jack agrees to buy the computer based on Jennifer's representations.This contract is:

Correct AnswerverifiedB

One of the factors leading courts away from a laissez-faire approach to contract law was:

Correct AnswerverifiedShow Answer

Which of the following statements about quasi-contracts is true?

Correct AnswerverifiedShow Answer

The common law governs contracts for:

Correct AnswerverifiedShow Answer

Dawn and Isaac sign a contract in which Dawn agrees to deliver 8 bags of flour in exchange for Isaac's promise to pay $25 per bag.Dawn delivers the flour.Isaac pays for the goods.This contract is fully executory.

Correct AnswerverifiedShow Answer

What is not required to establish promissory estoppel?

Correct AnswerverifiedShow Answer

The courts will find an implied contract when:

Correct AnswerverifiedShow Answer

On January 16,Deb offers to sell her waterbed to Colleen for $600.Colleen accepts and agrees to pay Deb $600 on January 27.Which of the following is correct?

Correct AnswerverifiedA

Which of the following represents a unilateral offer?

Correct AnswerverifiedShow Answer

Discuss the requirements of promissory estoppel.

Correct AnswerverifiedPromissory estoppel is an equitable reme...View AnswerShow Answer

Erin goes into Great Buy Electronics store and purchases a TV.She agrees to pay for the TV in 30 days on the store's "30 days same as cash" plan.This is an executed contract.

Correct AnswerverifiedFalse

Alex promises to pay $100 to anyone who finds his lost watch.Kate finds and returns the watch to Alex after hearing of the reward money.Alex and Kate have an enforceable unilateral contract.

Correct AnswerverifiedShow Answer

Contracts that do not arise from mutual agreement but are created by courts to avoid unjust enrichment are:

Correct AnswerverifiedShow Answer

Which of the following statements about an express contract is true?:

Correct AnswerverifiedShow Answer

Under a contract,Danielle is required to make a set of draperies out of fabric chosen by the homeowners,the Flynns.After Danielle makes the draperies according to the contract requirements,her duties under the contract are discharged.

Correct AnswerverifiedShow Answer

The basic distinction between a bilateral contract and a unilateral contract is that:

Correct AnswerverifiedShow Answer

Which of the following types of property would be goods under the Uniform Commercial Code?

Correct AnswerverifiedShow Answer

As English judges were developing the common law of contracts in the twelfth and thirteenth centuries:

Correct AnswerverifiedShow Answer

A quasi-contract is the legal designation of an oral contract.

Correct AnswerverifiedShow Answer

Walter enters a dentist office and points to a damaged tooth.The dentist,Matt,treats the tooth.If Walter refused to pay and Matt sued:

Correct AnswerverifiedShow Answer

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified

Correct Answer
verified
Promissory estoppel is an equitable reme...
View Answer

Correct Answer
verified
False

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified