Question 1

A+ Modeling Agency signs a contract with Sandi to do a photo shoot for the local used car dealer's advertising.The contract was most likely written by

Accepted Answer

A) the owner of A+ Modeling Agency. 
B) Sandi. 
C) A+ Modeling Agency's lawyer. 
D) Sandi's lawyer. 
A) the owner of A+ Modeling Agency. 
B) Sandi. 
C) A+ Modeling Agency's lawyer. 
D) Sandi's lawyer.

Question 2

Farmer's Fortune Insurance has a contract with Farmer Fran to insure her crops against insect damage.The contract does not specify which insects are covered or how much damage is necessary to make a claim.The contract will probably be enforced in favor of

Accepted Answer

A) Farmer Fran. 
B) Farmer's Fortune Insurance. 
C) Neither side, as it is ridiculous to try to insure against insects. 
D) Cannot determine... would have to go through litigation to decide. 
A) Farmer Fran. 
B) Farmer's Fortune Insurance. 
C) Neither side, as it is ridiculous to try to insure against insects. 
D) Cannot determine... would have to go through litigation to decide.

Question 3

Two parties are debating whether or not to put their contract into writing.In making their determination,which of the following factors would normally NOT be considered?

Accepted Answer

A) whether or not the agreement falls within the Statute of Frauds 
B) the complexity of the agreement 
C) the length of time covered by the agreement 
D) the relationship between the two parties 
A) whether or not the agreement falls within the Statute of Frauds 
B) the complexity of the agreement 
C) the length of time covered by the agreement 
D) the relationship between the two parties

Question 4

The legal term for a promise in a contract is "provision."

Accepted Answer

A) True 
 B)False

Question 5

What is a force majeure event?

Accepted Answer

A) any action that makes the contract unprofitable for either party 
B) any finding in a contract that shows a provision was deliberately left unclear 
C) a disruptive, unexpected occurrence for which neither party is to blame that prevents one or both parties from complying with a contract 
D) any happening that fulfills one of the conditions in the contract, making it enforceable 
A) any action that makes the contract unprofitable for either party 
B) any finding in a contract that shows a provision was deliberately left unclear 
C) a disruptive, unexpected occurrence for which neither party is to blame that prevents one or both parties from complying with a contract 
D) any happening that fulfills one of the conditions in the contract, making it enforceable

Exam 20: Practical Contracts

A+ Modeling Agency signs a contract with Sandi to do a photo shoot for the local used car dealer's advertising.The contract was most likely written by

Farmer's Fortune Insurance has a contract with Farmer Fran to insure her crops against insect damage.The contract does not specify which insects are covered or how much damage is necessary to make a claim.The contract will probably be enforced in favor of

Two parties are debating whether or not to put their contract into writing.In making their determination,which of the following factors would normally NOT be considered?

The legal term for a promise in a contract is "provision."

What is a force majeure event?

Introduction to Law

Business Ethics and Corporate Social Responsibility

International Law

Common Law, Statutory Law, and Administrative Law

Constitutional Law

Dispute Resolution

Crime

Intentional Torts and Business Torts

Negligence, Strict Liability, and Product Liability

Cyberlaw and Privacy

Introduction to Contracts

Agreement

Consideration

Legality

Capacity and Consent

Written Contracts

Third Parties

Performance, Breach and Discharge

Remedies

Introduction to Sales

Ownership, Risk and Warranties

Performance and Remedies

Secured Transactions

Creating a Negotiable Instrument

Liability for Negotiable Instruments

Accountants' Liability

Agency Law

Employment and Labor Law

Employment Discrimination

Starting a Business: LLCs and Other Options

Partnerships

Life and Death of a Corporation

Management Duties

Shareholder Rights

Bankruptcy

Securities Regulation

Antitrust

Consumer Protection

Environmental Law

Intellectual Property

Real Property and Landlord Tenant

Personal Property and Bailment

Planning for the Future: Estates and Insurance

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