Exam 12: Nature and Classes of Contracts: Contracting on the Internet

A quasi contract may arise in a situation in which no contract exists.

When a contract sets a price for services rendered, a plaintiff cannot sue for reasonable value.

A reward offered to the public for the return of lost property is not considered an offer.

An express contract is one in which the agreement is shown by the acts and conduct of the parties.

An option contract gives one of the parties an absolute right to enter into a second contract at a later date.

An obligation to pay for the reasonable value of services rendered when there is no contract would be called:

A right of __________ refusal is the right of a party to meet the terms of a proposed contract before it is executed, such as a real estate purchase agreement.

A bilateral contract consists of a:

The plaintiff in a quasi-contractual action can recover:

Only the parties who signed the original contract can have rights with respect to that contract.

An agreement that contemplates the performance of an act prohibited by law is usually void.

An executory contract is an agreement by which something remains to be done by one or both parties.

A contract for an amount greater than $1 million must be made under seal or it is not binding.

An executed contract is an agreement that has been completely performed.

A contract is:

An executory contract is:

Negotiable instruments are:

An offer may be made only to a specific person.

When Gordon told Hanson that he was considering selling his house, Hanson offered to buy it. Gordon and Hanson entered into a contract in which Hanson paid Gordon $1,000 in cash for the right to buy Gordon's house for $150,000 in the event Gordon decided to sell it. Two weeks later, Jones offered Gordon $200,000 for his house, and Gordon agreed to sell it to her for that amount. Hanson sued Gordon to force Gordon to sell the house to him for $150,000, rather than to Jones for $200,000. Identify the probable result of the action. What type of contract, if any, was entered into between Gordon and Hanson?

Louise owned a house next to Robert's house. Robert made a contract with Midcity Painters to paint his house. The painters arrived to paint Robert's house, but mistakenly painted Louise's house. She saw the painters at work and made no comment. Later, Midcity Painters sent Louise a bill for painting her house. She claimed that she was not liable because she had not made any contract with them. Is this a valid defense?