Exam 9: Nature of Traditional and E-Contracts

The objective theory of contracts states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties.

Which of the following is an informal contract?

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

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

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

Describe three major sources of contract law in the United States.

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

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

A voidable contract is also termed as an unenforceable contract.

Which of the following is true of enforcing a contract?

Provision of services qualifies as a consideration for an enforceable contract.

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.

Companies are not permitted to issue licenses by e-commerce.

The UCITA (Uniform Computer Information Transactions Act) is a model act that does not become law until a state legislature adopts it as a statute for the state.

The UCITA (Uniform Computer Information Transactions Act) is a law common to all states and does not require state legislatures to adopt it as a statute for the state.

Article 2 of the Uniform Commercial Code (UCC) prescribes a set of uniform rules for the creation and enforcement of contracts for the sale of goods.

Which of the following is an acceptable consideration for a contract?

Which of the following statements is true of contracts?

An implied-in-law contract is a contract in which agreement between parties has been inferred from their conduct.

Michael Harrison opens an online store where people from all over the world can purchase and download iPhone apps. Which of the following should Michael consult to know the rules of trading through his online store?