Exam 10: Nature and Classification

Jana, a nurse practitioner, renders aid to Kurtz, who is injured and unconscious. Jana can recover the cost of the aid from Kurtz

An offer that can be accepted simply by a promise to perform does not create a binding contract.

When a rainstorm erupts outside Rita's Clothing Shop, Rita and Shaw enter into an implied contract to split the revenue from Shaw's sale of umbrellas to Rita's customers. The terms of this contract are defined by

Macy offers to sell his fitness watch for $50 to Nona. Nona promises to pay Macy the price. Later, they exchange the watch for the funds. A contract was created when

Promises that are legally binding include

Mel agrees to work as a freight broker for National Shipping Inc. In determining whether a contract has been formed, an element of prime importance is the parties'

In interpreting a contract, a court will give greater weight to the course of performance between the parties than to the express terms.

When price changes make performance of a contract costly, compliance with the terms may most certainly be obtained through

Oceans Inc., a seafood distributor, agrees to buy from Paul, a commercial fisherman, any "overstock" of fish that Paul catches in excess of his legal limit. This agreement is most likely

Contracting parties are bound only by terms that can be objectively inferred from promises made.

A declaration that binds the person who makes it to do a certain act is a promise.

Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65. Ginger agrees. These parties have

What a party said when entering into a contract is a subjective fact.

Cass, a certified public accountant, agrees to perform an audit for Drone Distribution Inc. These parties are most likely to follow the rules of contract law in order to

Under the objective theory of contracts, a contract is not enforceable without a clearly defined objective.

A check is an informal contract.

Contract law does not distinguish between moral and legal obligations.

Fay offers to pay Grey $50 for a tennis lesson for Hetty. They agree to meet the day after tomorrow to exchange the cash for the lesson. These parties have

An executed contract is one that has been fully performed by both parties to it.

Red offers to pay Sara to deliver certain documents within thirty minutes. Sara can accept the offer only by completing the task within the deadline. If she does, Red and Sara will have