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Exam 13: Introduction to Contracts

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Question 1

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Discuss the meaning of a void contract and a voidable contract, and the effect of a determination that a contract is either void or voidable.

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A void contract is in effect not a contr...

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Question 2

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In the Case Opener, Hallmark claimed that an arbitration ruling against a former employee should be upheld. Which of the following was the result of the case?

A) The former employee was barred from proceeding in court because of the binding arbitration clause.
B) The former employee was barred from proceeding in court based on the statute of limitations which expired while she was pursuing her remedies in arbitration.
C) The former employee was allowed to proceed in court because she had exhausted her remedies in the arbitration arena.
D) The former employee could proceed with an action in court because there was no consideration for the arbitration agreement and, therefore, no valid agreement.
E) The former employee could proceed with an action in court because, as a matter of law, arbitration agreements are barred in the arbitration context.

F) A) and D)
G) A) and C)

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Question 3

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Which of the following is true regarding the type of marriage contract discussed in the text called the muta'a?

Who is the person who agrees to the terms of an offer made by another party?

Implied-in-law contracts are not actually contracts but are to help prevent unjust enrichment.

Patrick and Britt are in agreement that Patrick will pay Britt $2,000 for a used vehicle. At what point is there a binding contract?

There are four elements that are necessary for a contract to exist. Identify and describe each of those elements.

[Dog Training] Nia and Bruno enter into a written contract for Bruno to train Nia's dog. Under the contract, Nia is required to pay Bruno $20 for each training session. -Which of the following is true about void and voidable contracts?

Today, courts hold that once an offeree begins performance on a unilateral contract, the offeror must hold the offer open for a reasonable time to allow the offeree to complete the performance.

Section 29 of the contract which states, "Pigment may be redesigned at any time." -Serena claims Flo breached the contract by arriving at 5:00 p.m., rather than 3:00. Is she correct?

If a defendant states that the contract was not in "proper form," in contract law this means which of the following?

A contract for the sale of a good falls under Article 2 of the UCC.

Under ________, if a writing, or term in question, appears to be plain and unambiguous on its face, its meaning must be determined from the four corners of the instrument without resort to outside evidence, with the words being given their ordinary meaning.

[Book Sale] Yasmeen offered to sell Dylan a used business law book for $50. She told him that he could use it in his upcoming business law class the next semester. However, there was a problem with the book; it was several editions old. Dylan was not aware of that fact, and neither was Yasmeen. When Dylan took the book to class and realized the problem, he went back to Yasmeen requesting a refund. Yasmeen refused to return his money. She claimed that she did not commit fraud because subjectively she thought that the book was correct, and that a binding contract existed. The book, however, is outdated and cannot be appropriately used in the class. -The $50 to be provided by Dylan in exchange for the book to be provided by Yasmeen is considered to be ________ under contract law.

[Wrong Deck] Gina hires Jackson over the telephone to paint her back deck. She tells him her address and agrees to pay him $200 for the job, and he accepts. They enter into the agreement on Tuesday, and he is to paint the deck on Saturday. Jackson had a little difficulty finding her house because he spilled coffee on the note where he wrote her address. When Jackson arrives, neither Gina nor her neighbor is at home. He mistakenly paints the neighbor's deck. Gina calls him the next day and asks him why he did not paint her deck. He informs her that he did paint the deck. When it is discovered that he mistakenly painted the neighbor's deck, Gina tells him not to worry because the neighbor will be required to pay him. Jackson says that if the neighbor does not pay, then he expects all of the payment from Gina, because the contract is executed. -Which of the following is correct regarding Gina's assertion that the neighbor will be required to pay Jackson?

A[n] ________ contract is commonly defined as a promise in exchange for a promise.

[Dog Training] Nia and Bruno enter into a written contract for Bruno to train Nia's dog. Under the contract, Nia is required to pay Bruno $20 for each training session. -What law would best govern Nia and Bruno's contract?

[Book Sale] Yasmeen offered to sell Dylan a used business law book for $50. She told him that he could use it in his upcoming business law class the next semester. However, there was a problem with the book; it was several editions old. Dylan was not aware of that fact, and neither was Yasmeen. When Dylan took the book to class and realized the problem, he went back to Yasmeen requesting a refund. Yasmeen refused to return his money. She claimed that she did not commit fraud because subjectively she thought that the book was correct, and that a binding contract existed. The book, however, is outdated and cannot be appropriately used in the class. -Which of the following is true regarding Yasmeen's claim that she subjectively believed the book was an appropriate edition and that an enforceable contract, therefore, existed?

The term ________ originated from the days when a contract was literally sealed by a piece of soft wax into which an impression was made.

When written documents are signed by a party that makes an unconditional promise to pay the holder of the instrument a specific sum of money on demand, or at a certain time, they are called?