Question 1

In a[n] contract,the offeror wants a performance to form the contract.

Accepted Answer

A)  Anticipatory
B)  Unilateral
C)  Complete
D)  Trilateral
E)  BilateralF) D) and E)
G) A) and E)

Question 2

Which of the following was the result on appeal in Reisenfeld & Co.v.The Network Group,Inc. ;Builders Square,Inc. ;Kmart Corp. ,the case in the text involving whether the plaintiff could recover from BSI in the situation in which BSI contracted with Network Group to lease property,and Network Group contracted with the plaintiff agreeing to pay a certain commission for his work but then defaulted on the contract?

Accepted Answer

A)  The court ruled that because a quasi-contract was involved,BSI was required to pay the plaintiff the full amount of the commissions claimed.
B)  The court ruled that because the plaintiff did not have a contract with BSI,the plaintiff was entitled to no recovery from BSI.
C)  The court ruled that because it was a third-party beneficiary,BSI was required to pay the plaintiff the full amount of the commissions claimed.
D)  The court ruled that because a quasi-contract was involved,BSI was required to pay the plaintiff the reasonable value of the services rendered,not necessarily the contractual amount promised for commissions.
E)  The court ruled that because it was a third-party beneficiary,BSI was required to pay the plaintiff the reasonable value of the services rendered,not necessarily the contractual amount promised for commissions.F) B) and D)
G) C) and E)

Question 3

Today's law of contracts originated from judicial decisions in ________.

Accepted Answer

A)  England
B)  Switzerland
C)  France
D)  Spain
E)  ItalyF) A) and E)
G) All of the above

Question 4

Which of the following states that 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?

Accepted Answer

A)  The Simple Rule
B)  The Plain Meaning Rule
C)  The Understandable Rule
D)  The Interpretation Rule
E)  The Comprehensive RuleF) D) and E)
G) A) and D)

Question 5

The response that the offeror expects from the offeree determines whether a contract is bilateral or unilateral.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not a negotiable instrument?

Accepted Answer

A)  Check
B)  Draft
C)  Note
D)  Certificate of deposit
E)  Letter of creditF) A) and C)
G) B) and C)

Question 7

Which of the following contracts are usually voidable?

Accepted Answer

A)  Contracts entered into as a result of undue influence or fraud,but not duress.
B)  Contracts entered into as a result of duress or undue influence,but not fraud.
C)  Contracts entered into as a result of fraud,but not duress or undue influence.
D)  Contracts entered into as a result of fraud,duress,or undue influence.
E)  Contracts entered into as a result of fraud or duress,but not undue influence.F) A) and D)
G) C) and D)

Question 8

What was the court's holding in Wrench,LLC,Shields,and Rinks,LLC v.Taco Bell,the case in the text in which the plaintiff contended that,for an implied contract claim,it was only required to prove that Taco Bell understood that Wrench expected to be compensated if Taco Bell used its Psycho Chihuahua character and/or related ideas?

Accepted Answer

A)  The court found that the only relevant question was whether the parties knew compensation was expected,and there was evidence to support an implied in fact contract.
B)  The court found that the only relevant question was whether the parties knew compensation was expected,however,there was evidence to support an implied in fact contract
C)  The court found that the plaintiff must establish all elements of an implied in fact contract,but failed to do so.
D)  The court found that the plaintiff must prove the parties agreed on all essential terms of whatever contract plaintiff alleges was entered into by the parties,and that the plaintiff met this burden of proof.
E)  The court found there was no evidence to infer an implied in fact contract.F) All of the above
G) A) and C)

Question 9

As long as some of the duties under a contract have not yet been performed,the contract is considered ________.

Accepted Answer

A)  Stopped
B)  Executed
C)  Ended
D)  Executory
E)  AnticipatoryF) B) and D)
G) A) and E)

Question 10

Which of the following references the requirement that a contract not be either illegal or against public policy?

Accepted Answer

A)  Capacity
B)  Ethical requirement
C)  Legal object
D)  Illegal prohibition
E)  ConsiderationF) None of the above
G) B) and E)

Question 11

Which of the following is in effect not a contract at all?

Accepted Answer

A)  A void contract
B)  A voidable contract
C)  An executory contract
D)  An executed contract
E)  An implied contractF) B) and C)
G) D) and E)

Question 12

Serena claims Flo breached the contract by arriving at 5:00 p.m. ,rather than 3:00.Is she correct?

Accepted Answer

A)  No,although Serena could change the terms of the contract,she could not do so via e-mail.
B)  No,because Serena could not change the terms of the contract.
C)  Yes,because where there is conflict between preprinted and handwritten terms,the handwritten ones prevail.
D)  No,because where there is a conflict between preprinted and handwritten terms,the preprinted ones prevail unless ambiguous.
E)  Yes,but only if the contract provision is ambiguous.F) B) and C)
G) None of the above

Question 13

Which of the following is a correct description of the agreement between Allison and Brendan?

Accepted Answer

A)  They had a unilateral,implied agreement.
B)  They had a bilateral,implied agreement.
C)  They had a bilateral and unilateral agreement.
D)  They had a bilateral,express agreement.
E)  They had a unilateral,express agreement.F) A) and C)
G) B) and D)

Question 14

If a contract is valid,then it is enforceable.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following terms refers to the $50 to be provided by Dylan and the book to be provided by Yasmeen?

Accepted Answer

A)  Encouragement
B)  Consideration
C)  Material
D)  Provisions
E)  InducementF) A) and B)
G) A) and D)

Question 16

In the U.S. ,which of the following are the two most important sources of contract law?

Accepted Answer

A)  Case law and the Convention on Contracts for International Sales of Goods.
B)  The Uniform Commercial Code and the Convention on Contracts for International Sales of Goods.
C)  Case law and the Uniform Commercial Code.
D)  The Convention on Contracts for International Sales of Goods and the Restatement of the Law,Contracts.
E)  Case law and the Restatement of Law,Contracts.F) A) and B)
G) A) and C)

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Define a bilateral contract and a unilateral contract,and give an example of each.

Accepted Answer

A bilateral contract is commonly defined...

Question 19

Which of the following is true about void and voidable contracts?

Accepted Answer

A)  A void contract is not a contract at all;a voidable contract can be terminated by one party.
B)  Both parties must agree to terminate a void or a voidable contract because otherwise there would be no privity.
C)  Either party can terminate the contract at any time.
D)  Both contracts are illegal.
E)  Both contracts must contain an illegal object.F) B) and E)
G) None of the above

Question 20

Any contract that is not a formal contract is an informal contract,also called a simple contract.

Accepted Answer

A) True 
 B)False

Exam 13: Introduction to Contracts

Which of the following terms refers to the $50 to be provided by Dylan and the book to be provided by Yasmeen?

Correct Answer
verified

As long as some of the duties under a contract have not yet been performed,the contract is considered ________.

Correct Answer
verified

Which of the following states that 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?

Correct Answer
verified

Which of the following contracts are usually voidable?

Correct Answer
verified

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

Correct Answer
verified

In the U.S. ,which of the following are the two most important sources of contract law?

Correct Answer
verified

Which of the following is true about void and voidable contracts?

Correct Answer
verified

In a[n] contract,the offeror wants a performance to form the contract.

Correct Answer
verified

Which of the following is not a negotiable instrument?

Correct Answer
verified

Serena claims Flo breached the contract by arriving at 5:00 p.m. ,rather than 3:00.Is she correct?

Correct Answer
verified

Which of the following references the requirement that a contract not be either illegal or against public policy?

Correct Answer
verified

Define a bilateral contract and a unilateral contract,and give an example of each.

Correct Answer
verified
A bilateral contract is commonly defined...
View Answer

Which of the following is a correct description of the agreement between Allison and Brendan?

Correct Answer
verified

Correct Answer
verified

Any contract that is not a formal contract is an informal contract,also called a simple contract.

Correct Answer
verified

Which of the following is in effect not a contract at all?

Correct Answer
verified

Today's law of contracts originated from judicial decisions in ________.

Correct Answer
verified

Correct Answer
verified

If a contract is valid,then it is enforceable.

Correct Answer
verified

The response that the offeror expects from the offeree determines whether a contract is bilateral or unilateral.

Correct Answer
verified

Exam 13: Introduction to Contracts

Which of the following terms refers to the $50 to be provided by Dylan and the book to be provided by Yasmeen?

Correct AnswerverifiedShow Answer

As long as some of the duties under a contract have not yet been performed,the contract is considered ________.

Correct AnswerverifiedShow Answer

Which of the following states that 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?

Correct AnswerverifiedShow Answer

Which of the following contracts are usually voidable?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the U.S. ,which of the following are the two most important sources of contract law?

Correct AnswerverifiedShow Answer

Which of the following is true about void and voidable contracts?

Correct AnswerverifiedShow Answer

In a[n] contract,the offeror wants a performance to form the contract.

Correct AnswerverifiedShow Answer

Which of the following is not a negotiable instrument?

Correct AnswerverifiedShow Answer

Serena claims Flo breached the contract by arriving at 5:00 p.m. ,rather than 3:00.Is she correct?

Correct AnswerverifiedShow Answer

Which of the following references the requirement that a contract not be either illegal or against public policy?

Correct AnswerverifiedShow Answer

Define a bilateral contract and a unilateral contract,and give an example of each.

Correct AnswerverifiedA bilateral contract is commonly defined...View AnswerShow Answer

Which of the following is a correct description of the agreement between Allison and Brendan?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Any contract that is not a formal contract is an informal contract,also called a simple contract.

Correct AnswerverifiedShow Answer

Which of the following is in effect not a contract at all?

Correct AnswerverifiedShow Answer

Today's law of contracts originated from judicial decisions in ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If a contract is valid,then it is enforceable.

Correct AnswerverifiedShow Answer

The response that the offeror expects from the offeree determines whether a contract is bilateral or unilateral.

Correct AnswerverifiedShow Answer

Correct Answer
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verified
A bilateral contract is commonly defined...
View Answer

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