Exam 9: Nature of Traditional and E-Contracts

Ron took his car to the muffler shop to have the left muffler of his dual exhaust system replaced.From the waiting room he sees that the worker is preparing to remove the right muffler.Ron says nothing,hoping that he'll get a free muffler for the right side.Discuss this situation.

This type of contract is based on an equitable doctrine:

In making an offer,the offeror promises to do or refrain from doing something.

In order for an agreement to be valid,there must be mutual assent by the parties.

A voidable contract is one that neither party can perform.

An agreement requires an offer by the offeror and an acceptance of the offer by the offeree.

Contracts are either bilateral or unilateral,depending on what the offeree must do to accept the offeror's offer.

Formal contracts are always in writing.

An informal contract is also known as a(n)________ contract

The Uniform Computer Information Transactions Act was passed by the U.S.Congress and is the exclusive law in the area of electronic contracts and licenses,preempting state law.

The ________ theory of contracts holds that the intent to enter into an express or implied-in-fact contract is judged by the ________ person standard.

If a voidable contract is avoided by one of the parties,the other party is still obligated to perform.

Contracts are voluntarily entered into by parties.

In order for the United Nations Convention on Contracts for the International Sale of Goods (CISG)to apply to an international sales contract,both of the nations must be parties to the convention,and the contract must specify that the CISG controls.

A quasi-contract is imposed where one person confers a benefit on another person who retains the benefit,and it would be unjust not to require the recipient to pay for the benefit received.

Informal contracts are also referred to as complex contracts.

A contract is created when the offeror makes the offer.

Under the objective theory of contracts,a contract could result from an offer made:

Which of the following are two terms for the same concept or situation?

Quasi-contracts and implied-in-law contracts are interchangeable terms.