Question 1

Mary tells John,"I shall pay the debt my sister owes you." This statement is a promise of guarantee.

Accepted Answer

A) True 
 B)False

Question 2

The consideration for a main contract can be a collateral contract.

Accepted Answer

A) True 
 B)False

Question 3

When parties deal expressly with a matter in a contract,a court is not precluded from finding an implied term regarding that same matter.

Accepted Answer

A) True 
 B)False

Question 4

What is a condition precedent?

Accepted Answer

A) an event that happens before a contract takes effect 
B) an event that is related to a contract and happens before a contract takes effect 
C) an unconditional undertaking given by a promisee to the promisor to perform an event before a contract takes effect 
D) any set of circumstances or events that the parties agree must be satisfied or must happen before their contract takes effect 
E) an undertaking,conditional on the execution of a contract between the parties,that a promisee makes to a promisor prior to entering into a contract 
A) an event that happens before a contract takes effect 
B) an event that is related to a contract and happens before a contract takes effect 
C) an unconditional undertaking given by a promisee to the promisor to perform an event before a contract takes effect 
D) any set of circumstances or events that the parties agree must be satisfied or must happen before their contract takes effect 
E) an undertaking,conditional on the execution of a contract between the parties,that a promisee makes to a promisor prior to entering into a contract

Question 5

When dealing with the prohibition in the Statute of Frauds regarding oral contracts not to be performed in a year,which of the following is true?

Accepted Answer

A) An oral contract that is for an indefinite period,but could be performed within a year,is not prohibited by the Statute. 
B) An oral contract that is to be performed over a period of one year,commencing the day after the formation of the contract,is not prohibited by the Statute. 
C) An oral contract that is to be performed over a period of one year,but commences two days after the conclusion of the contract,is prohibited by the Statute. 
D) An oral contract that provides for a specific period for performance of more than a year,but also confers a power of determination that may be exercised within the year,is prohibited by the Statute. 
E) all of the above 
A) An oral contract that is for an indefinite period,but could be performed within a year,is not prohibited by the Statute. 
B) An oral contract that is to be performed over a period of one year,commencing the day after the formation of the contract,is not prohibited by the Statute. 
C) An oral contract that is to be performed over a period of one year,but commences two days after the conclusion of the contract,is prohibited by the Statute. 
D) An oral contract that provides for a specific period for performance of more than a year,but also confers a power of determination that may be exercised within the year,is prohibited by the Statute. 
E) all of the above

Question 6

Allen was negotiating to rent a flat in Bob's house.During the negotiations,Allen told Bob that if he took the flat,he would have use of two basement rooms for the storage of his surplus furniture and also the use of the garden.Subsequently,a written agreement was drawn up for the lease of the flat that made no reference to either the storage rooms or the garden.In this case,

Accepted Answer

A) because the negotiations were not included in the contract,Allen will get the flat,not the storage rooms or garden. 
B) because of the parol evidence rule,Allen cannot give evidence of the use of the storage rooms and garden as being part of the contract 
C) although the parol evidence rule applies,the contract being partly oral and partly written,Allen can give evidence about the storage rooms,but not the garden. 
D) although the parol evidence rule applies,the contract being partly written and partly oral,Allen can provide evidence of the oral part of the contract about the storage rooms and garden. 
E) none of the above 
A) because the negotiations were not included in the contract,Allen will get the flat,not the storage rooms or garden. 
B) because of the parol evidence rule,Allen cannot give evidence of the use of the storage rooms and garden as being part of the contract 
C) although the parol evidence rule applies,the contract being partly oral and partly written,Allen can give evidence about the storage rooms,but not the garden. 
D) although the parol evidence rule applies,the contract being partly written and partly oral,Allen can provide evidence of the oral part of the contract about the storage rooms and garden. 
E) none of the above

Mary tells John,"I shall pay the debt my sister owes you." This statement is a promise of guarantee.

The consideration for a main contract can be a collateral contract.

When parties deal expressly with a matter in a contract,a court is not precluded from finding an implied term regarding that same matter.

What is a condition precedent?

When dealing with the prohibition in the Statute of Frauds regarding oral contracts not to be performed in a year,which of the following is true?

Law, society, and Business

The Machinery of Justice

Government Regulation of Business

The Law of Torts

Professional Liability: the Legal Challenges

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration and Intention

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Set Aside: Mistake and Misrepresentation

Privity of Contract and the Assignment of Contractual Rights

The Discharge of Contracts

Breach of Contract and Its Remedies

Sale of Goods and Consumer Contracts

Bailment and Leasing

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

Corporate Governance: the Internal Affairs of Corporations

Corporate Governance: External Responsibilities

Secured Transactions

Creditors Rights

International Business Transactions

Electronic Commerce

Privacy

Filters

Exam 10: Writing and Interpretation

Mary tells John,"I shall pay the debt my sister owes you." This statement is a promise of guarantee.

The consideration for a main contract can be a collateral contract.

When parties deal expressly with a matter in a contract,a court is not precluded from finding an implied term regarding that same matter.

What is a condition precedent?

When dealing with the prohibition in the Statute of Frauds regarding oral contracts not to be performed in a year,which of the following is true?

Law, society, and Business

The Machinery of Justice

Government Regulation of Business

The Law of Torts

Professional Liability: the Legal Challenges

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration and Intention

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Set Aside: Mistake and Misrepresentation

Privity of Contract and the Assignment of Contractual Rights

The Discharge of Contracts

Breach of Contract and Its Remedies

Sale of Goods and Consumer Contracts

Bailment and Leasing

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

Corporate Governance: the Internal Affairs of Corporations

Corporate Governance: External Responsibilities

Secured Transactions

Creditors Rights

International Business Transactions

Electronic Commerce

Privacy

Filters