Question 1

Yvonne finds a carpenter to do some repairs for her house and tells him that if he finishes the job by Saturday,she will pay him $1,000.Yvonne's offer creates a(n)________ contract.

Accepted Answer

A)  executed
B)  unilateral
C)  executory
D)  bilateral B

Question 2

In a recognizance,a party agrees to pay a specified sum of money if another party does not pay it.

Accepted Answer

A) True 
 B)False  True

Question 3

Noelle uses blackmail to force Jeff to sign a contract for the sale of his home.This contract is ________.

Accepted Answer

A)  unenforceable
B)  valid
C)  void
D)  voidable D

Question 4

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

Accepted Answer

A)  It can be voided by both parties.
B)  It can be voided by one of the parties.
C)  It is enforceable by both parties.
D)  It is enforceable by at least one of the parties.

Question 5

Which of the following is acceptable consideration for a contract?

Accepted Answer

A)  a penalty
B)  an arrest
C)  a sentence
D)  money

Question 6

Which of the following is true of a gift promise?

Accepted Answer

A)  A gift promise can be enforced by a court of law.
B)  A completed gift promise cannot be cancelled for lack of consideration.
C)  A gift promise contains mutual consideration.
D)  The promisee can take legal action if the promisor does not fulfill the gift promise.

Question 7

The infancy doctrine gives adults the right to disaffirm contracts they have entered into with minors.

Accepted Answer

A) True 
 B)False

Question 8

Consideration is defined as something of legal value given in exchange for termination of an offer.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following would likely give rise to a quasi-contract?

Accepted Answer

A)  an employee receiving his or her paycheck monthly
B)  two companies signing a business agreement of indefinite duration
C)  an unconscious man being treated in a hospital emergency room
D)  a woman hiring a caterer only after the caterer promises to deliver the food on time

Question 10

An express contract can be stated orally.

Accepted Answer

A) True 
 B)False

Question 11

A(n)________ contract is a contract that has not been fully performed by either or both sides.

Accepted Answer

The answer of A(n)________ contract is a contract that has...

Question 12

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

Accepted Answer

A)  executed
B)  unilateral
C)  unenforceable
D)  formal

Question 13

Windsor,the owner of Windsor's Sandwiches,contacts Gary,a new supplier.He promises 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(n)________ contract between them.

Accepted Answer

A)  bilateral
B)  unilateral
C)  executed
D)  voidable

Question 14

Kyle goes to a used automobile dealership to buy a truck.He signs an agreement with the dealership that includes a description of the truck,its price,and other details.This is an example of a(n)________ contract.

Accepted Answer

A)  express
B)  unilateral
C)  implied-in-law
D)  implied-in-fact

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

An offer to create a unilateral contract cannot be accepted by a promise to perform.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

The answer of The ________ establishes uniform legal rules for...

Question 18

In terms of contractual capacity,what is the most commonly-recognized age of majority?

Accepted Answer

A)  15
B)  16
C)  18
D)  21

Question 19

Explain in brief the Uniform Computer Information Transactions Act (UCITA).

Accepted Answer

The answer of Explain in brief the Uniform Computer Information...

Question 20

A contract is ________ if the offeror's offer can be accepted only by the performance of an act by the offeree.

Accepted Answer

A)  executed
B)  executory
C)  unilateral
D)  bilateral

Exam 9: Formation and Requirements of Contracts

Yvonne finds a carpenter to do some repairs for her house and tells him that if he finishes the job by Saturday,she will pay him $1,000.Yvonne's offer creates a(n) ________ contract.

In a recognizance,a party agrees to pay a specified sum of money if another party does not pay it.

Noelle uses blackmail to force Jeff to sign a contract for the sale of his home.This contract is ________.

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

Which of the following is acceptable consideration for a contract?

Which of the following is true of a gift promise?

The infancy doctrine gives adults the right to disaffirm contracts they have entered into with minors.

Consideration is defined as something of legal value given in exchange for termination of an offer.

Which of the following would likely give rise to a quasi-contract?

An express contract can be stated orally.

A(n)________ contract is a contract that has not been fully performed by either or both sides.

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

Windsor,the owner of Windsor's Sandwiches,contacts Gary,a new supplier.He promises 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(n) ________ contract between them.

Kyle goes to a used automobile dealership to buy a truck.He signs an agreement with the dealership that includes a description of the truck,its price,and other details.This is an example of a(n) ________ contract.

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

An offer to create a unilateral contract cannot be accepted by a promise to perform.

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

In terms of contractual capacity,what is the most commonly-recognized age of majority?

Explain in brief the Uniform Computer Information Transactions Act (UCITA).

A contract is ________ if the offeror's offer can be accepted only by the performance of an act by the offeree.