Exam 9: The Law of Contracts and Sales I

According to the evidence rule, when parties have executed a written agreement which is complete on its face, oral agreements made before or at the same time as the written agreement that vary, alter, or contradict the written agreement are invalid.

Under the Uniform Commercial Code, a merchant can prevent additional terms contained in a counteroffer from being added to the contract by .

An "interest in land" includes all but which of the following?

Jones buys a life insurance policy from Liberty Insurance Company. The policy is designed to pay Smith the sum of $100,000 upon Jones's death. The policy is an example of .

Courts apply an objective test when determining the existence of duress. The party's state of mind is irrelevant.

Explain the difference between an express contract and an implied contract.

The doctrine of promissory estoppel is used when the requirements of are not met.

Discuss the various exceptions to the parol evidence rule.

Which of the following statements defines a bilateral contract?

Which of the following is true of Section 2-213 of the Uniform Commercial Code with regard to electronic communication?

A(n) contract is a contract that at its formation has an illegal object or serious defects.

Discuss the relationship between the doctrine of promissory estoppel and the consideration requirement of contract formation.

A bilateral contract is an exchange of one promise for another promise.

Consideration is defined as a bargained-for exchange of promises in which a legal detriment is suffered by the promisee.

A unilateral contract is a court-imposed agreement to prevent the unjust enrichment of one party when the parties have not previously agreed to an enforceable contract.

beneficiary contracts involve two parties to a contract, either by words, writing, or actions, intending to bring benefits to a third party by virtue of an enforceable contract.

Which of the following statements is true of a legal offer?

Generally, in an assignment, unless the obligor receives of assignment by the obligee-assignor, the obligor has no duty to the assignee.

Insurance contracts and all forms of creditor collection agreements are contracts.

Abigail agrees to clear Adam's debt with the bank if he is unable to pay it. Which of the following is true of this scenario?