Exam 9: Nature of Traditional and E-Contracts

A voidable contract is also termed as an unenforceable contract.

What is recognizance?

A(n)________ is an equitable doctrine whereby a court may award monetary damages to a plaintiff for providing work or services to a defendant even though no actual contract existed.

If ambiguity is detected while determining the type of contract, it is presumed to be a bilateral contract.

In a recognizance, a party acknowledges in court that he or she will pay a specified sum of money if a certain event occurs.

Windsor, the owner of Windsor's Sandwiches contacts a new supplier Gary.He tells Gary that he will pay him $375 if Gary delivers 20 pounds of cheese the following morning.Gary promises to make the delivery as requested by Windsor.This creates a ________ contract between them.

Explain the doctrine of equity with reference to contracts.

Martha contacts a bakery to get a cake for her son's birthday party.She tells the baker that she will pay him $150 for the cake if he delivers the cake on Friday evening.If the baker does not deliver the cake on Friday evening, which of the following will hold true?

The ________ establishes uniform legal rules for the formation and enforcement of electronic contracts and licenses.

If the law requires that a contract be in writing, failure of such a contract to be in writing does not impact its enforcement.

Common law of contracts refers to contract law developed primarily by state courts.

________ is a doctrine that permits judges to make decisions based on fairness, equality, moral rights, and natural law.

If one of the parties has the option to void his or her contractual obligations, the contract if considered voidable.

An oral agreement to purchase a neighbor's bicycle is a(n)________ contract.

What are the possible problems that can come up in a unilateral contract?

The UCITA is a law common to all states and does not require state legislatures to adopt it as a statute for the state

Checks and drafts are considered informal contracts as their method of creation varies from one bank to another.

Which of the following is a necessary condition for a contract to be considered valid?

Stella is injured in a motor accident and is brought to the hospital by a passerby.Stella subsequently passes into a coma.The doctors and other staff perform the necessary medical procedures to save her life.Stella comes out of her coma after two months and is released from the hospital after the doctors are satisfied by her recovery.Under the doctrine of ________ contract, Stella has to pay the hospital for its services.

If a contract is required to be in writing under the Statute of Frauds but is not, the contract is ________.