Exam 9: Nature of Traditional and E-Contracts

Mr.Smith awakens one morning to the sound of construction in his back yard.When he looks out the window,he sees Ajax Construction Co.apparently erecting a garage on his property.He had not spoken or contracted with Ajax for this service.However,Mr.Smith really wanted a new garage,so he let them continue.Later,it was discovered that the garage was intended to go next door.Ajax sues Mr.Smith for the value of the garage.What is the probable result?

Informal contracts are always oral.

In applying the objective theory of contracts,the pertinent question to ask is: "Would a hypothetical reasonable person conclude that the parties intended to create a contract after considering the words and conduct of the parties and the surrounding circumstances?"

The majority of the contracts entered into by individuals and businesses are ________ contracts.

An actual contract may be express,but not implied-in-fact.

Over time,most contracts are:

In an action "in equity," there is no right to a jury trial.

The doctrine of quasi-contract is intended to prevent unjust enrichment,but not unjust detriment.

If consent is obtained by ________,there is no real consent.

A contract is an agreement that is enforceable by a court of law or equity.

Frank says to Mary,"If you wash every window in my house today,I'll pay you $200.I don't care if you do it,but there is $200 in it for you if you do." Mary washes 12 of the 20 windows in Frank's house by 2:00 p.m.At this point:

Consideration describes the thought and evaluation process the parties go through when deciding to contract.

Quasi-contract law attempts to prevent unjust enrichment where no contract actually existed.

A one-year lease for an apartment that is 12 pages long,printed,covers all details of the parties' obligations,and contains the dated signature of each party is a formal contract.

The ________ provides legal rules that govern the formation,performance,and enforcement of international sales contracts entered into between international businesses.

Under the objective theory of contracts,the subjective intent of a party to enter into a contract is ________.

Which of the following is not a formal contract?

Today,in most states of the United States,the courts of law and equity have been merged into one court.

Two (2)of the four (4)basic contract requirements are: 1)agreement between the parties and 2)signatures of the parties.

________ is created if the offer is not accepted.