Question 1

Foster promises to buy Gideon's trumpet for $75. Gideon is

Accepted Answer

A)  ​an offeree. 
B)  ​an offeror. 
C)  ​a promisee. 
D)  ​a promisor. 
A)  ​an offeree. 
B)  ​an offeror. 
C)  ​a promisee. 
D)  ​a promisor.

Question 2

Every contract involves at least three parties.

Accepted Answer

A) True 
 B)False

Question 3

Bob claims that Carla breached their contract for tutoring. Carla responds that she never intended to enter into a contract with Bob. The intent to enter into a contract is determined with reference to

Accepted Answer

A)  ​the intentional theory of contracts. 
B)  ​the objective theory of contracts. 
C)  ​the personal theory of contracts. 
D)  ​the subjective theory of contracts. 
A)  ​the intentional theory of contracts. 
B)  ​the objective theory of contracts. 
C)  ​the personal theory of contracts. 
D)  ​the subjective theory of contracts.

Question 4

Movers LLC promises to deliver a certain couch to Nora, who promises to pay for the service. If Movers does not perform, it may be required to

Accepted Answer

A)  ​cease business. 
B)  ​make another promise. 
C)  ​pay money damages. 
D)  ​perform a different service. 
A)  ​cease business. 
B)  ​make another promise. 
C)  ​pay money damages. 
D)  ​perform a different service.

Question 5

​A contract is valid only if both of the parties entering into it have the capacity to do so.

Accepted Answer

A) True 
 B)False

Question 6

Evie agrees to work for Far East Shipping, Ltd., as a translator. In determining whether a contract has been formed, an element of prime importance is

Accepted Answer

A)  ​the parties' intent. 
B)  ​Far East's base. 
C)  ​the work's duration. 
D)  ​Evie's capabilities. 
A)  ​the parties' intent. 
B)  ​Far East's base. 
C)  ​the work's duration. 
D)  ​Evie's capabilities.

Question 7

Francisca and Garden Estate, Inc., enter into a contract for the use of a Victorian mansion and its grounds for a wedding and reception. If ambiguities appear in the contract, they will be construed against the party who

Accepted Answer

A)  ​drafted the contract. 
B)  ​has the greater bargaining power. 
C)  ​made the offer to contract. 
D)  ​offers the most confusing explanation of the terms. 
A)  ​drafted the contract. 
B)  ​has the greater bargaining power. 
C)  ​made the offer to contract. 
D)  ​offers the most confusing explanation of the terms.

Question 8

Lark promises to buy Mac's used textbook for $60. Lark is

Accepted Answer

A)  ​an executor. 
B)  ​an offeree. 
C)  ​a promisee. 
D)  ​a promisor. 
A)  ​an executor. 
B)  ​an offeree. 
C)  ​a promisee. 
D)  ​a promisor.

Question 9

Francie drives into Gage's Auto Service and asks Gage to replace a tire on her car. After Gage replaces the tire, but before Francie pays for it, any contract between them is

Accepted Answer

A)  ​executed. 
B)  ​executory. 
C)  ​void. 
D)  ​unenforceable. 
A)  ​executed. 
B)  ​executory. 
C)  ​void. 
D)  ​unenforceable.

Question 10

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

Accepted Answer

A)  ​as if the parties had entered into an actual contract. 
B)  ​only if Kurt recovers because of the aid. 
C)  ​only if Kurt was aware of the aid. 
D)  ​under no circumstances. 
A)  ​as if the parties had entered into an actual contract. 
B)  ​only if Kurt recovers because of the aid. 
C)  ​only if Kurt was aware of the aid. 
D)  ​under no circumstances.

Question 11

A court will normally interpret the language of a contract according to what the parties claim their intent was when they made it.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)  ​a bilateral contract. 
B)  ​a unilateral contract. 
C)  ​a void contract. 
D)  ​an executive contract. 
A)  ​a bilateral contract. 
B)  ​a unilateral contract. 
C)  ​a void contract. 
D)  ​an executive contract.

Question 13

A unilateral contract is formed at the moment when the contract is performed.

Accepted Answer

A) True 
 B)False

Question 14

Leila enters into a contract with Metro Taxi Company to work as a cabdriver. Under the plain meaning rule, if the contract's writing is clear and unequivocal, the meaning of the terms must be determined from

Accepted Answer

A)  ​only evidence not contained in the document. 
B)  ​any relevant extrinsic evidence. 
C)  ​only the face of the instrument. 
D)  ​the later testimony of the parties. 
A)  ​only evidence not contained in the document. 
B)  ​any relevant extrinsic evidence. 
C)  ​only the face of the instrument. 
D)  ​the later testimony of the parties.

Question 15

A contract is an agreement that can be enforced in court.

Accepted Answer

A) True 
 B)False

Question 16

Bo signs a lease with Capri Apartments to lease a studio apartment for the next year for $650 per month. Daisy signs on Capri's behalf. Bo and Capri have

Accepted Answer

A)  ​no contract. 
B)  ​an express contract. 
C)  ​an implied contract. 
D)  ​a simple contract. 
A)  ​no contract. 
B)  ​an express contract. 
C)  ​an implied contract. 
D)  ​a simple contract.

Question 17

Clay offers to pay Dian $50 for a golf lesson for Ewan. They agree to meet on Friday to exchange the cash for the lesson. These parties have

Accepted Answer

A)  ​a bilateral contract. 
B)  ​a unilateral contract. 
C)  ​a void contract. 
D)  ​an executive contract. 
A)  ​a bilateral contract. 
B)  ​a unilateral contract. 
C)  ​a void contract. 
D)  ​an executive contract.

Question 18

On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. These parties had

Accepted Answer

A)  ​an expired contract when Neil said that he had changed his mind. 
B)  ​a quasi contract when Neil said that he would pay for certain work. 
C)  ​a unilateral contract as soon as Outdoor began to perform. 
D)  ​no contract. 
A)  ​an expired contract when Neil said that he had changed his mind. 
B)  ​a quasi contract when Neil said that he would pay for certain work. 
C)  ​a unilateral contract as soon as Outdoor began to perform. 
D)  ​no contract.

Question 19

A quasi contract is a fictional contract.

Accepted Answer

A) True 
 B)False

Question 20

Some promises are not legally binding.

Accepted Answer

A) True 
 B)False

Foster promises to buy Gideon's trumpet for $75. Gideon is

Every contract involves at least three parties.

Bob claims that Carla breached their contract for tutoring. Carla responds that she never intended to enter into a contract with Bob. The intent to enter into a contract is determined with reference to

Movers LLC promises to deliver a certain couch to Nora, who promises to pay for the service. If Movers does not perform, it may be required to

A contract is valid only if both of the parties entering into it have the capacity to do so.

Evie agrees to work for Far East Shipping, Ltd., as a translator. In determining whether a contract has been formed, an element of prime importance is

Francisca and Garden Estate, Inc., enter into a contract for the use of a Victorian mansion and its grounds for a wedding and reception. If ambiguities appear in the contract, they will be construed against the party who

Lark promises to buy Mac's used textbook for $60. Lark is

Francie drives into Gage's Auto Service and asks Gage to replace a tire on her car. After Gage replaces the tire, but before Francie pays for it, any contract between them is

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

A court will normally interpret the language of a contract according to what the parties claim their intent was when they made it.

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

A unilateral contract is formed at the moment when the contract is performed.

Leila enters into a contract with Metro Taxi Company to work as a cabdriver. Under the plain meaning rule, if the contract's writing is clear and unequivocal, the meaning of the terms must be determined from

A contract is an agreement that can be enforced in court.

Bo signs a lease with Capri Apartments to lease a studio apartment for the next year for $650 per month. Daisy signs on Capri's behalf. Bo and Capri have

Clay offers to pay Dian $50 for a golf lesson for Ewan. They agree to meet on Friday to exchange the cash for the lesson. These parties have

On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. These parties had

A quasi contract is a fictional contract.

Some promises are not legally binding.

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Agreement in Traditional and E-Contracts

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Performance, Breach, and Warranties of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

Exam 7: Nature and Terminology

Foster promises to buy Gideon's trumpet for $75. Gideon is

Every contract involves at least three parties.

Bob claims that Carla breached their contract for tutoring. Carla responds that she never intended to enter into a contract with Bob. The intent to enter into a contract is determined with reference to

Movers LLC promises to deliver a certain couch to Nora, who promises to pay for the service. If Movers does not perform, it may be required to

​A contract is valid only if both of the parties entering into it have the capacity to do so.

Evie agrees to work for Far East Shipping, Ltd., as a translator. In determining whether a contract has been formed, an element of prime importance is

Francisca and Garden Estate, Inc., enter into a contract for the use of a Victorian mansion and its grounds for a wedding and reception. If ambiguities appear in the contract, they will be construed against the party who

Lark promises to buy Mac's used textbook for $60. Lark is

Francie drives into Gage's Auto Service and asks Gage to replace a tire on her car. After Gage replaces the tire, but before Francie pays for it, any contract between them is

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

A court will normally interpret the language of a contract according to what the parties claim their intent was when they made it.

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

A unilateral contract is formed at the moment when the contract is performed.

Leila enters into a contract with Metro Taxi Company to work as a cabdriver. Under the plain meaning rule, if the contract's writing is clear and unequivocal, the meaning of the terms must be determined from

A contract is an agreement that can be enforced in court.

Bo signs a lease with Capri Apartments to lease a studio apartment for the next year for $650 per month. Daisy signs on Capri's behalf. Bo and Capri have

Clay offers to pay Dian $50 for a golf lesson for Ewan. They agree to meet on Friday to exchange the cash for the lesson. These parties have

On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. These parties had

A quasi contract is a fictional contract.

Some promises are not legally binding.

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Agreement in Traditional and E-Contracts

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Performance, Breach, and Warranties of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

A contract is valid only if both of the parties entering into it have the capacity to do so.