Question 1

Distinguish between an offer and an invitation.

Accepted Answer

An invitation to treat is an advertiseme

Question 2

A term making a contract conditional on future events is known as ________.

Accepted Answer

The answer of A term making a contract conditional on...

Question 3

Distinguish between a bilateral and a unilateral contract.

Accepted Answer

A unilateral contract is one where the a

Question 4

The decision in Zynik Capital Corp. v. Faris confirms

Accepted Answer

A)  a Memorandum satisfies all the elements of a contract. 
B)  option agreements are, by their very nature, illegal. 
C)  a Memorandum is not a binding contract, as it is missing an essential term. 
D)  a Memorandum is sufficient to create a binding contract. 
E)  option agreements are, by their very nature, unenforceable. 
A)  a Memorandum satisfies all the elements of a contract. 
B)  option agreements are, by their very nature, illegal. 
C)  a Memorandum is not a binding contract, as it is missing an essential term. 
D)  a Memorandum is sufficient to create a binding contract. 
E)  option agreements are, by their very nature, unenforceable.

Question 5

An invitation to treat is an offer published in the newspaper.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is an offer as opposed to an "invitation to treat"?

Accepted Answer

A)  A notice in the Toronto Star: "I will pay $100 to whoever finds and returns my lost female calico cat which answers to the name Marx." 
B)  A sweater displayed in the window of a shop with the price tag attached and showing. 
C)  An ad in a real-estate paper: "Best offer in Vancouver! 3 bedroom home in Kitsilano for only $350,000!" 
D)  A notice in the catalogue from the gift shop of the Edmonton Aquarium: "15% off the price of all jewellery until January." 
E)  The display of goods on the shelves of Safeway. 
A)  A notice in the Toronto Star: "I will pay $100 to whoever finds and returns my lost female calico cat which answers to the name Marx." 
B)  A sweater displayed in the window of a shop with the price tag attached and showing. 
C)  An ad in a real-estate paper: "Best offer in Vancouver! 3 bedroom home in Kitsilano for only $350,000!" 
D)  A notice in the catalogue from the gift shop of the Edmonton Aquarium: "15% off the price of all jewellery until January." 
E)  The display of goods on the shelves of Safeway.

Question 7

Joe contracted with Sam, agreeing to pay Sam $400 if Sam would build him a bookcase. The essential terms included the type and quality of the wood, the dimensions, and the date of completion February 14, 2012. The work went more easily than expected and Sam said to Joe, "If you pay me another $50, I will have this finished and be out of here by February 8." Joe agreed. If the bookcase were done to specifications by the 8th, but Joe refused to pay anything, Sam would be entitled in law to

Accepted Answer

A)  nothing. 
B)  only $50. 
C)  $400 plus damages. 
D)  $400. 
E)  $450. 
A)  nothing. 
B)  only $50. 
C)  $400 plus damages. 
D)  $400. 
E)  $450.

Question 8

For the postbox rule to apply, the offer must be made by mail.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is correct with respect to consideration?

Accepted Answer

A)  It must be specific. 
B)  It must be reasonable. 
C)  It is to compensate for an act that happened in the past. 
D)  At least some money must be involved. 
E)  It is binding even though a duty to so act already exists. 
A)  It must be specific. 
B)  It must be reasonable. 
C)  It is to compensate for an act that happened in the past. 
D)  At least some money must be involved. 
E)  It is binding even though a duty to so act already exists.

Question 10

Indicate which of the following is the correct statement about the effect of promissory estoppel on a promisor.

Accepted Answer

A)  Promissory estoppel has no effect on a promisor because it only relates to statements of fact, not promises. 
B)  When a victim relies on the promise and suffers injury, he can sue the promisor for compensation even where no consideration has been given in return for that promise. 
C)  Promissory estoppel must be distinguished from equitable estoppel. 
D)  Promissory estoppel can be used as a defence only against a promisor who reneges on his promise. 
E)  Promissory estoppel is known as injurious reliance in the United States and has the same effect in both American and Canadian law. 
A)  Promissory estoppel has no effect on a promisor because it only relates to statements of fact, not promises. 
B)  When a victim relies on the promise and suffers injury, he can sue the promisor for compensation even where no consideration has been given in return for that promise. 
C)  Promissory estoppel must be distinguished from equitable estoppel. 
D)  Promissory estoppel can be used as a defence only against a promisor who reneges on his promise. 
E)  Promissory estoppel is known as injurious reliance in the United States and has the same effect in both American and Canadian law.

Question 11

Distinguish between a void and a voidable contract.

Accepted Answer

A void contract never was a contract and

Question 12

"Quantum meruit" means

Accepted Answer

A)  "to stand on decision". 
B)  "as much as deserved". 
C)  "a shield but not a sword". 
D)  "the ultimate freedom to contract". 
E)  "a meeting of the minds".
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 
A)  "to stand on decision". 
B)  "as much as deserved". 
C)  "a shield but not a sword". 
D)  "the ultimate freedom to contract". 
E)  "a meeting of the minds".
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

Question 13

Explain the principle of promissory estoppel and how it relates to the requirement of consideration in contract law. In your answer, explain any limitations on its availability.

Accepted Answer

Here students are expected to show an un

Question 14

List the five ingredients necessary to form a contract.

Accepted Answer

Consensus (including offer and

Question 15

Joe owed Sam $500. Two days before the money was due, he came to Sam and told him he couldn't pay the $500, but if Sam would accept $300 right then, in full satisfaction of the debt, he would pay him that amount. Sam agreed, then later sued for the other $200. Will he win?

Accepted Answer

He received payment

Question 16

When the postbox rule applies, the place of mailing of the acceptance may determine the place of the contract.

Accepted Answer

A) True 
 B)False

Question 17

Which one of the following is enforceable?

Accepted Answer

A)  An ad in the paper promises to pay $5 for the return of a lost ring, but the person who finds and returns the ring never saw the offer in the newspaper. 
B)  Mr. Baker was so sick of an old chair that, when Mr. Venson offered him $10 for it, he agreed (i.e., promised to sell it to him), although the market value of the chair was $80. 
C)  Mr. Ho promised to give his needy friend Mr. Jahn $100. 
D)  Ms. Jones promised to pay an additional $100 to Mr. Wood if Wood finished the existing contract on time, according to the terms of the contract. 
E)  Ms. Goode promised to send $10 to Mr. Paul, who kindly came and warned her when he saw a tow truck approach her car. 
A)  An ad in the paper promises to pay $5 for the return of a lost ring, but the person who finds and returns the ring never saw the offer in the newspaper. 
B)  Mr. Baker was so sick of an old chair that, when Mr. Venson offered him $10 for it, he agreed (i.e., promised to sell it to him), although the market value of the chair was $80. 
C)  Mr. Ho promised to give his needy friend Mr. Jahn $100. 
D)  Ms. Jones promised to pay an additional $100 to Mr. Wood if Wood finished the existing contract on time, according to the terms of the contract. 
E)  Ms. Goode promised to send $10 to Mr. Paul, who kindly came and warned her when he saw a tow truck approach her car.

Question 18

Which of the following is false with regard to contract law?

Accepted Answer

A)  To form a contract, there must be an offer that is accepted unconditionally. 
B)  A contract is unenforceable if it is required to be evidenced in writing under the Statute of Frauds and is not. 
C)  The parties to a contract can always go to court and have the court declare a contract void if the consideration is not adequate, i.e. fair, even if there is no evidence of fraud, duress, undue influence, or mental incapacity. 
D)  A contract for a $50,000 boat does not have to be evidenced in writing to be a valid contract. 
E)  An exchange of promises can be consideration adequate to form a contract. 
A)  To form a contract, there must be an offer that is accepted unconditionally. 
B)  A contract is unenforceable if it is required to be evidenced in writing under the Statute of Frauds and is not. 
C)  The parties to a contract can always go to court and have the court declare a contract void if the consideration is not adequate, i.e. fair, even if there is no evidence of fraud, duress, undue influence, or mental incapacity. 
D)  A contract for a $50,000 boat does not have to be evidenced in writing to be a valid contract. 
E)  An exchange of promises can be consideration adequate to form a contract.

Question 19

Martin offered to buy the property for $200,000, "offer to remain open until 5:00 p.m. on Thursday, January 21, 2011." Which one of the following situations will not cause the offer to end?

Accepted Answer

A)  Martin sells the property to another party before the expiration of the period stipulated and before hearing from the offeree. 
B)  Insanity of the offeror before the offer is accepted 
C)  The offeree has not accepted and the stipulated time has expired. 
D)  Death of offeror 
E)  A counter-offer from the offeree 
A)  Martin sells the property to another party before the expiration of the period stipulated and before hearing from the offeree. 
B)  Insanity of the offeror before the offer is accepted 
C)  The offeree has not accepted and the stipulated time has expired. 
D)  Death of offeror 
E)  A counter-offer from the offeree

Question 20

Which of the following would best satisfy the requirements for a good legal offer?

Accepted Answer

A)  "I'll give you $1 for your new green bike." 
B)  On a flyer placed on your windshield: "We have the best offer in town! A mint 1956 Chevrolet for $20,000." 
C)  "I'll drive you to Seattle on Saturday." 
D)  "I'll pay you at least $300 for your horse, Blackie, and even more if the horse is lucky." 
E)  "The purchaser will pay $1000 for one of the seller's laser printers, the exact model to be determined at a later date." 
A)  "I'll give you $1 for your new green bike." 
B)  On a flyer placed on your windshield: "We have the best offer in town! A mint 1956 Chevrolet for $20,000." 
C)  "I'll drive you to Seattle on Saturday." 
D)  "I'll pay you at least $300 for your horse, Blackie, and even more if the horse is lucky." 
E)  "The purchaser will pay $1000 for one of the seller's laser printers, the exact model to be determined at a later date."

Distinguish between an offer and an invitation.

A term making a contract conditional on future events is known as ________.

Distinguish between a bilateral and a unilateral contract.

The decision in Zynik Capital Corp. v. Faris confirms

An invitation to treat is an offer published in the newspaper.

Which of the following is an offer as opposed to an "invitation to treat"?

For the postbox rule to apply, the offer must be made by mail.

Which of the following is correct with respect to consideration?

Indicate which of the following is the correct statement about the effect of promissory estoppel on a promisor.

Distinguish between a void and a voidable contract.

"Quantum meruit" means

Explain the principle of promissory estoppel and how it relates to the requirement of consideration in contract law. In your answer, explain any limitations on its availability.

List the five ingredients necessary to form a contract.

Joe owed Sam $500. Two days before the money was due, he came to Sam and told him he couldn't pay the $500, but if Sam would accept $300 right then, in full satisfaction of the debt, he would pay him that amount. Sam agreed, then later sued for the other $200. Will he win?

When the postbox rule applies, the place of mailing of the acceptance may determine the place of the contract.

Which one of the following is enforceable?

Which of the following is false with regard to contract law?

Martin offered to buy the property for $200,000, "offer to remain open until 5:00 p.m. on Thursday, January 21, 2011." Which one of the following situations will not cause the offer to end?

Which of the following would best satisfy the requirements for a good legal offer?

Managing Your Legal Affairs

Introduction to the Legal System

The Resolution of Disputes the Courts and Alternatives to Litigation

Intentional Torts

Negligence, Professional Liability, and Insurance Law

Formation of Contracts Continued

Factors Affecting the Contractual Relationship

The End of the Contractual Relationship

Employment

Agency and Partnership

Corporations

Real, Personal and Intellectual Property

Information Technology and the Internet

Sales and Consumer Protection

Priority of Creditors

Filters

Exam 6: Formation of Contracts

Distinguish between an offer and an invitation.

A term making a contract conditional on future events is known as ________.

Distinguish between a bilateral and a unilateral contract.

The decision in Zynik Capital Corp. v. Faris confirms

An invitation to treat is an offer published in the newspaper.

Which of the following is an offer as opposed to an "invitation to treat"?

For the postbox rule to apply, the offer must be made by mail.

Which of the following is correct with respect to consideration?

Indicate which of the following is the correct statement about the effect of promissory estoppel on a promisor.

Distinguish between a void and a voidable contract.

"Quantum meruit" means

Explain the principle of promissory estoppel and how it relates to the requirement of consideration in contract law. In your answer, explain any limitations on its availability.

List the five ingredients necessary to form a contract.

Joe owed Sam $500. Two days before the money was due, he came to Sam and told him he couldn't pay the $500, but if Sam would accept $300 right then, in full satisfaction of the debt, he would pay him that amount. Sam agreed, then later sued for the other $200. Will he win?

When the postbox rule applies, the place of mailing of the acceptance may determine the place of the contract.

Which one of the following is enforceable?

Which of the following is false with regard to contract law?

Martin offered to buy the property for $200,000, "offer to remain open until 5:00 p.m. on Thursday, January 21, 2011." Which one of the following situations will not cause the offer to end?

Which of the following would best satisfy the requirements for a good legal offer?

Managing Your Legal Affairs

Introduction to the Legal System

The Resolution of Disputes the Courts and Alternatives to Litigation

Intentional Torts

Negligence, Professional Liability, and Insurance Law

Formation of Contracts Continued

Factors Affecting the Contractual Relationship

The End of the Contractual Relationship

Employment

Agency and Partnership

Corporations

Real, Personal and Intellectual Property

Information Technology and the Internet

Sales and Consumer Protection

Priority of Creditors

Filters