Exam 9: Introduction to Contracts

Maria posted several signs in the neighborhood offering $50 for the return of her lost cat. Dave calls to get a description of the cat and tells Maria, "I'll look for your cat." A contract is formed by Dave's call to Maria.

Brian makes a material misrepresentation of fact regarding his horse to Rosalind while out riding one day. Later that day, Rosalind makes an offer to buy the horse. Brain accepts without correcting his earlier misrepresentation of fact. In this case:

Larry says to Jeff, "If you will mow my lawn, I will give you fifteen dollars." Under these facts, no contract is formed until Jeff finishes mowing the lawn.

Which of the following is not generally required in order to have a valid contract?

Contracts that are implied in law:

Contract law is significant in that it is basic to other fields of law such as:

Abe is involved in an automobile accident and is injured. While he is unconscious, the police call an ambulance which takes him to a hospital. Abe is treated at the hospital and released a day later. The hospital sends him a bill for $2,400, which Abe refuses to pay, claiming it is too high and he never consented to the treatment because he was unconscious. Abe:

A(n) contract is one in which the parties have manifested their agreement by oral or written language, or both.

Article 2 of the Uniform Commercial Code does not apply to the sale of services.

A valid contract is one that meets all of the requirements of a binding contract.

Amendments to Article 2 of the UCC were promulgated in 2003 to reflect developments in the law and business practices and to accommodate electronic commerce.

A contract to sell life insurance is covered by Article 2 of the Uniform Commercial Code.

Discuss how the common law of contracts, Article 2 of the Uniform Commercial Code, and the Restatement of the Law of Contracts combine to form the law of contracts. Is there a difference between how a court would regard Article 2 of the UCC and the Restatement of the Law of Contracts? Why? Explain your answer.

Each party to a contract must intentionally exchange a legal benefit or incur a legal detriment as an inducement to the other party to make a return exchange.

An implied in fact contract is formed by conduct.

A noncontractual promise may be enforceable where there has been justifiable reliance on the promise.

All written contracts are considered to be formal contracts.

Alice makes a material misrepresentation of fact to Betty, and based upon the misrepresentation, Betty enters into a contract. Betty now realizes she was deceived and wants to get out of the contract. This contract is voidable at Betty's option.

Promissory estoppel is a contractual doctrine that includes the following considerations:

A quasi contract is another name for an oral contract.