Exam 9: Introduction to Contracts

Article 2 of the Uniform Commercial Code deals with what type of property?

If a contract is not clearly unilateral or bilateral, the courts presume that the parties intended a unilateral contract.

An implied contract is as enforceable as an express contract.

A contract in which both parties exchange promises is a:

One of the changes in contract law between the nineteenth century and the twentieth century is that in more recent times:

Ken promises not to foreclose on a mortgage that he holds on an office complex that Christopher owns. In reliance on this promise, Christopher expends $200,000 to remodel the complex. Which of the following is correct with regard to Ken's promise?

An obligation imposed by law where there has been no agreement or expression of assent by word or act on the part of either party involved is a(n):

Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?

The usual method of showing the mutual assent necessary to create a contract is by offer and acceptance.

During the twentieth century it became harder to enter into a contract as well as to get out of one.

Sarah offers to pay Allison $150 if Allison will paint her apartment while she is out of town on vacation for two weeks. Allison makes no promise but tells Sarah that she will think about it. While Sarah is out of town, Allison paints the apartment. This is best described as a(n):

Ann makes a material misrepresentation of fact to Brian, and based upon the misrepresentation, Brian enters into a contract. Ann now thinks that the contract is not fair to her. This contract is voidable at Ann's option.

Anna by mistake delivers to Bob a plain, unaddressed envelope containing $50 intended for Cora. Bob: