Question 1

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

Accepted Answer

In a unilateral contract,problems arise

Question 2

A(n)________ is a contract that courts refuse to enforce in part or at all because it is so oppressive or manifestly unfair as to be unjust.

Accepted Answer

A) unconscionable contract 
B) contract of attrition 
C) contract in furtherance of trade 
D) quasi-contract 
A) unconscionable contract 
B) contract of attrition 
C) contract in furtherance of trade 
D) quasi-contract

Question 3

Provision of services qualifies as consideration for an enforceable contract.

Accepted Answer

A) True 
 B)False

Question 4

What is a recognizance?

Accepted Answer

A) a sealed document that contains a formal contract whose contents are known to both parties and the referee who supervised its signing 
B) a party's agreement to pay a sum of money if another person does not pay it 
C) a party's acknowledgement in court that he or she is not liable to pay money if a certain event occurs 
D) a sealed document that contains an informal contract whose contents are known only to the parties 
A) a sealed document that contains a formal contract whose contents are known to both parties and the referee who supervised its signing 
B) a party's agreement to pay a sum of money if another person does not pay it 
C) a party's acknowledgement in court that he or she is not liable to pay money if a certain event occurs 
D) a sealed document that contains an informal contract whose contents are known only to the parties

Question 5

A contract that has been fully performed by both sides is called an executory contract.

Accepted Answer

A) True 
 B)False

Question 6

Under the mailbox rule,an acceptance is only effective when it is received.

Accepted Answer

A) True 
 B)False

Question 7

A(n)________ contract is only valid once the offeree performs the requested act.

Accepted Answer

The answer of A(n)________ contract is only valid once the...

Question 8

A contract in which an agreement between the parties is inferred from their conduct is known as a(n)________ contract.

Accepted Answer

The answer of A contract in which an agreement between...

Question 9

Past consideration is sufficient consideration to support a new contract.

Accepted Answer

A) True 
 B)False

Question 10

An offeror can ________ an offer by withdrawing the offer prior to its acceptance.

Accepted Answer

The answer of An offeror can ________ an offer by...

Question 11

A(n)________ is a contract in which the original offeree pays consideration (usually money)in return for the original offeror giving consideration (time of the option period).

Accepted Answer

The answer of A(n)________ is a contract in which the...

Question 12

An option contract is terminated upon the death of the offeror.

Accepted Answer

A) True 
 B)False

Question 13

Unconscionable contracts are sometimes found where there is a consumer contract that takes advantage of uneducated,poor,or elderly people who have been persuaded to enter into unfair contracts.

Accepted Answer

A) True 
 B)False

Question 14

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 is accurate?

Accepted Answer

A) Martha can sue the baker but cannot recover damages. 
B) Martha can sue the baker and recover $150 in damages. 
C) Martha cannot sue the baker. 
D) The baker must pay Martha $150 plus the cost of a replacement cake,as he entered into a verbal contract with her and did not perform his legal obligation. 
A) Martha can sue the baker but cannot recover damages. 
B) Martha can sue the baker and recover $150 in damages. 
C) Martha cannot sue the baker. 
D) The baker must pay Martha $150 plus the cost of a replacement cake,as he entered into a verbal contract with her and did not perform his legal obligation.

Question 15

An exculpatory clause can relieve a party of liability for ordinary negligence.

Accepted Answer

A) True 
 B)False

Question 16

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.

Accepted Answer

The answer of A(n)________ is an equitable doctrine whereby a...

Question 17

Which of the following is true for an auction without reserve?

Accepted Answer

A) The bidder is considered the offeror. 
B) The seller need not accept the highest bid. 
C) The auctioned item cannot be withdrawn from sale. 
D) The auctioneer is not allowed to establish a minimum bid. 
A) The bidder is considered the offeror. 
B) The seller need not accept the highest bid. 
C) The auctioned item cannot be withdrawn from sale. 
D) The auctioneer is not allowed to establish a minimum bid.

Question 18

A unilateral contract can be accepted without the performance of an act by the offeree.

Accepted Answer

A) True 
 B)False

Question 19

A contract is said to be ________ when one or both parties have the option to void the contractual obligations.

Accepted Answer

The answer of A contract is said to be ________...

Question 20

An offer to create a unilateral contract can be revoked by the offeror any time prior to the offeree's performance of the requested act.

Accepted Answer

A) True 
 B)False

Exam 9: Formation and Requirements of Contracts

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

A(n)________ is a contract that courts refuse to enforce in part or at all because it is so oppressive or manifestly unfair as to be unjust.

Provision of services qualifies as consideration for an enforceable contract.

What is a recognizance?

A contract that has been fully performed by both sides is called an executory contract.

Under the mailbox rule,an acceptance is only effective when it is received.

A(n)________ contract is only valid once the offeree performs the requested act.

A contract in which an agreement between the parties is inferred from their conduct is known as a(n)________ contract.

Past consideration is sufficient consideration to support a new contract.

An offeror can ________ an offer by withdrawing the offer prior to its acceptance.

A(n)________ is a contract in which the original offeree pays consideration (usually money)in return for the original offeror giving consideration (time of the option period).

An option contract is terminated upon the death of the offeror.

Unconscionable contracts are sometimes found where there is a consumer contract that takes advantage of uneducated,poor,or elderly people who have been persuaded to enter into unfair 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 is accurate?

An exculpatory clause can relieve a party of liability for ordinary negligence.

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.

Which of the following is true for an auction without reserve?

A unilateral contract can be accepted without the performance of an act by the offeree.

A contract is said to be ________ when one or both parties have the option to void the contractual obligations.

An offer to create a unilateral contract can be revoked by the offeror any time prior to the offeree's performance of the requested act.

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