Question 1

Which of the following is a definition for consideration?

Accepted Answer

A)  Being cordial in the negotiation of contracts.
B)  The bargained-for exchange.
C)  A contract negotiated in person as opposed to by telephone or e-mail.
D)  Being cordial and refraining from unethical behavior in the negotiation of contracts.
E)  Refraining from unethical behavior in the negotiation of contracts.F) All of the above
G) A) and B)

Question 2

Flo claims that "pigment redesign" in Section 29 is regularly used in the flower business,and that she had every right to "redesign" the color of the arrangements because she is a professional in the business.On which general guideline of contract interpretation is Flo relying?

Accepted Answer

A)  Section 29 is quoting a federal law that allows professionals in the flower business to select color.
B)  The four corners rule.
C)  The plain language rule.
D)  The technical exemption law of the UCC.
E)  General guidelines of contract interpretation.F) A) and B)
G) A) and C)

Question 3

Contracts do not have to fall under the common law or the Uniform Commercial Code.

Accepted Answer

A) True 
 B)False

Question 4

Contract law is said to be based on a[n] ________ theory,meaning that the existence and interpretation of the contract is based on the outward manifestations of intent by the parties.

Accepted Answer

A)  Interpretive
B)  Unilateral
C)  Appearing
D)  Subjective
E)  ObjectiveF) None of the above
G) All of the above

Question 5

Serena claims the contract is not valid because she only typed her name onto an electronic form and she did not "sign" any contract.Is she correct?

Accepted Answer

A)  No,because e-contracts are legally valid.
B)  Yes.Since she paid the down payment,the contract was executory and e-contracts that are executory are void.
C)  Yes,to be valid,she needed to print the form,sign in,and send it in.
D)  No,an e-contract is voidable where there is no consideration.
E)  Yes,although an e-contract is valid,it is voidable.F) B) and E)
G) A) and E)

Question 6

Which of the following consists of an offer by one party and an acceptance of the terms by another party?

Accepted Answer

A)  Coherence
B)  Agreement
C)  Legal object
D)  Concurrence
E)  AllianceF) C) and D)
G) B) and C)

Question 7

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?

Accepted Answer

A)  She is correct because agreements for the sale of goods are based on a subjective theory.
B)  She is correct because contract law is based upon a subjective theory of contracts.
C)  She is correct because her genuinely held belief establishes that she did not commit fraud.
D)  She is incorrect because her subjective belief would not be the basis for a determination of whether the contract would be enforced in this case and also because fraud is not necessary in order to find a breach of contract.
E)  She is correct but only if Dylan subjectively believed the same as she did.F) A) and D)
G) A) and C)

Question 8

[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.
-Would their contract be governed by common law or the UCC?

Accepted Answer

A)  Common law.
B)  Both common law and the UCC.
C)  Common law,because the UCC specifically excludes biological substances.
D)  The UCC.
E)  Neither common law not the UCC.F) A) and D)
G) A) and E)

Question 9

[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.
-As of Tuesday when Jackson and Gina agreed upon the price for the job,what was the status of the agreement?

Accepted Answer

A)  The contract was executory.
B)  The contract was formal.
C)  The contract was executed.
D)  The contract was novated.
E)  The contract was a recognizance contract.F) A) and E)
G) A) and C)

Question 10

An agreement by a person who issues a letter to pay a sum of money on receipt of an invoice and other documents is called a ________.

Accepted Answer

A)  Letter of credit
B)  Letter of acknowledgement
C)  Letter of agreement
D)  Negotiated credit instrument letter
E)  Letter of simple contractF) D) and E)
G) A) and B)

Question 11

Viv entered into a contract with Rodin,an assassin,to kill her ex-husband.She pays him $50,000,but he does not perform the deed.She now wants her money back.Must Rodin return the money?

Accepted Answer

A)  Yes,because the contract is illegal.
B)  No,the contract is void because it is illegal.
C)  No,the contract is voidable because it is illegal.
D)  No,because the contract was not in writing.
E)  Yes,if she paid him.F) A) and B)
G) C) and D)

Question 12

If a[n] ________ misunderstanding between the parties exists,and as a result of that misunderstanding the parties do not really come to a meeting of the minds,there is no contract.

Accepted Answer

A)  Unilateral
B)  Reasonable
C)  Subjective
D)  Mutual
E)  ComprehensiveF) C) and D)
G) A) and D)

Question 13

Which of the following statements is true about ESIGN?

Accepted Answer

A)  Documents produced electronically are legally valid,but not as valid as documents produced on paper.
B)  E-contracts are formed electronically but executed when printed and signed.
C)  ESIGN affirms e-contracts as legally valid.
D)  ESIGN is international law.
E)  ESIGN stands for the Electronic Signing In Great Numbers.F) A) and D)
G) A) and E)

Question 14

In Re Zappos.com Inc. ,v.Customer Data Security Breach Litigation,the case in the text in which customers of Zappos claimed that they were not bound to an arbitration agreement contained in a contract with Zappos,what was the result of the case?

Accepted Answer

A)  The court ruled in favor of Zappos on the basis that the contract was properly entered into and was fully enforceable.
B)  The court ruled in favor of Zappos on the basis that even though some provisions of the contract were unenforceable,because of the federal policy favoring arbitration agreements,the arbitration clause itself was enforceable.
C)  The court ruled for the plaintiffs only because of its finding that the contract was illusory and unenforceable because Zappos could avoid promises at any time.
D)  The court ruled for the plaintiffs for the following two reasons: 1) there was no contract because plaintiffs did not assent to it,and 2) even if a contract existed,the contract was illusory and unenforceable because Zappos could avoid promises at any time.
E)  The court ruled for the plaintiffs only because of its finding that no contract existed based on the plaintiffs' lack of assent.F) None of the above
G) A) and D)

Question 15

If one or both of the parties have the ability to either withdraw from the contract or enforce it,without breaching the contract,the contract is ________.

Accepted Answer

A)  Implied
B)  Executed
C)  Void
D)  Executory
E)  VoidableF) B) and E)
G) D) and E)

Question 16

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.

Accepted Answer

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

Question 17

All contracts can be categorized as either ________ or ________.

Accepted Answer

A)  Bilateral;complete
B)  Unilateral;bilateral
C)  Unilateral;complete
D)  Unilateral;trilateral
E)  Bilateral;trilateralF) A) and B)
G) A) and C)

Question 18

Which of the following describes Dylan's role in the transaction?

Accepted Answer

A)  He was the offeree.
B)  He was the assentee.
C)  He was the assentor.
D)  He was the offeree and the assentee.
E)  He was the offeror.F) C) and D)
G) D) and E)

Question 19

Flo claims that pink was proper under Section 29,and any court would interpret the contract in Flo's favor.Would Section 29 likely be enforced?

Accepted Answer

A)  Yes,Serena should have read the contract more carefully and,if there were any ambiguity,she should have clarified it prior to signing.
B)  Yes,Section 29 should be interpreted according to its plain language.
C)  Yes,Section 29 is ambiguous and should be interpreted against Serena.
D)  No,Section 29 is ambiguous and should be interpreted against Flo.
E)  Yes,Serena signed the contract.F) A) and E)
G) B) and E)

Question 20

Which of the following is true about contract law in China?

Accepted Answer

A)  China has seven chapters of general provisions for contracts but also has chapters with special provisions for 15 different types of contracts.
B)  China does not have laws regarding contracts.
C)  China has general provisions for contracts,but no specific provisions for different types of contracts.
D)  China's contacts laws are very similar to those of the United States.
E)  China only follows international laws regarding contracts.F) B) and E)
G) None of the above

Exam 13: Introduction to Contracts

Flo claims that pink was proper under Section 29,and any court would interpret the contract in Flo's favor.Would Section 29 likely be enforced?

Correct Answer
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Which of the following is a definition for consideration?

Correct Answer
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Serena claims the contract is not valid because she only typed her name onto an electronic form and she did not "sign" any contract.Is she correct?

Correct Answer
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Which of the following is true about contract law in China?

Correct Answer
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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?

Correct Answer
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Flo claims that "pigment redesign" in Section 29 is regularly used in the flower business,and that she had every right to "redesign" the color of the arrangements because she is a professional in the business.On which general guideline of contract interpretation is Flo relying?

Correct Answer
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Which of the following consists of an offer by one party and an acceptance of the terms by another party?

Correct Answer
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Viv entered into a contract with Rodin,an assassin,to kill her ex-husband.She pays him $50,000,but he does not perform the deed.She now wants her money back.Must Rodin return the money?

Correct Answer
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Which of the following statements is true about ESIGN?

Correct Answer
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Contracts do not have to fall under the common law or the Uniform Commercial Code.

Correct Answer
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Correct Answer
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An agreement by a person who issues a letter to pay a sum of money on receipt of an invoice and other documents is called a ________.

Correct Answer
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All contracts can be categorized as either or .

Correct Answer
verified

Contract law is said to be based on a[n] ________ theory,meaning that the existence and interpretation of the contract is based on the outward manifestations of intent by the parties.

Correct Answer
verified

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.

Correct Answer
verified
A void contract is in effect not a contr...
View Answer

Which of the following describes Dylan's role in the transaction?

Correct Answer
verified

If a[n] ________ misunderstanding between the parties exists,and as a result of that misunderstanding the parties do not really come to a meeting of the minds,there is no contract.

Correct Answer
verified

[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. -Would their contract be governed by common law or the UCC?

Correct Answer
verified

In Re Zappos.com Inc. ,v.Customer Data Security Breach Litigation,the case in the text in which customers of Zappos claimed that they were not bound to an arbitration agreement contained in a contract with Zappos,what was the result of the case?

Correct Answer
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If one or both of the parties have the ability to either withdraw from the contract or enforce it,without breaching the contract,the contract is ________.

Correct Answer
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Exam 13: Introduction to Contracts

Flo claims that pink was proper under Section 29,and any court would interpret the contract in Flo's favor.Would Section 29 likely be enforced?

Correct AnswerverifiedShow Answer

Which of the following is a definition for consideration?

Correct AnswerverifiedShow Answer

Serena claims the contract is not valid because she only typed her name onto an electronic form and she did not "sign" any contract.Is she correct?

Correct AnswerverifiedShow Answer

Which of the following is true about contract law in China?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Flo claims that "pigment redesign" in Section 29 is regularly used in the flower business,and that she had every right to "redesign" the color of the arrangements because she is a professional in the business.On which general guideline of contract interpretation is Flo relying?

Correct AnswerverifiedShow Answer

Which of the following consists of an offer by one party and an acceptance of the terms by another party?

Correct AnswerverifiedShow Answer

Viv entered into a contract with Rodin,an assassin,to kill her ex-husband.She pays him $50,000,but he does not perform the deed.She now wants her money back.Must Rodin return the money?

Correct AnswerverifiedShow Answer

Which of the following statements is true about ESIGN?

Correct AnswerverifiedShow Answer

Contracts do not have to fall under the common law or the Uniform Commercial Code.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

An agreement by a person who issues a letter to pay a sum of money on receipt of an invoice and other documents is called a ________.

Correct AnswerverifiedShow Answer

All contracts can be categorized as either ________ or ________.

Correct AnswerverifiedShow Answer

Contract law is said to be based on a[n] ________ theory,meaning that the existence and interpretation of the contract is based on the outward manifestations of intent by the parties.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedA void contract is in effect not a contr...View AnswerShow Answer

Which of the following describes Dylan's role in the transaction?

Correct AnswerverifiedShow Answer

If a[n] ________ misunderstanding between the parties exists,and as a result of that misunderstanding the parties do not really come to a meeting of the minds,there is no contract.

Correct AnswerverifiedShow Answer

[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. -Would their contract be governed by common law or the UCC?

Correct AnswerverifiedShow Answer

In Re Zappos.com Inc. ,v.Customer Data Security Breach Litigation,the case in the text in which customers of Zappos claimed that they were not bound to an arbitration agreement contained in a contract with Zappos,what was the result of the case?

Correct AnswerverifiedShow Answer

If one or both of the parties have the ability to either withdraw from the contract or enforce it,without breaching the contract,the contract is ________.

Correct AnswerverifiedShow Answer

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All contracts can be categorized as either or .

Correct Answer
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A void contract is in effect not a contr...
View Answer

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