Question 1

In a quasi-contract situation, the reasonable value of services or goods to avoid unjust enrichment are called:

Accepted Answer

A)  preclusion. 
B)  benefits. 
C)  quantum meruit. 
D)  restitution damages. 
A)  preclusion. 
B)  benefits. 
C)  quantum meruit. 
D)  restitution damages.

Question 2

A bilateral contract consists of a:

Accepted Answer

A)  promise for an act. 
B)  promise for refraining from acting. 
C)  promise for a promise. 
D)  promise to contract. 
A)  promise for an act. 
B)  promise for refraining from acting. 
C)  promise for a promise. 
D)  promise to contract.

Question 3

An implied contract is shown by:

Accepted Answer

A)  a writing. 
B)  the acts and conduct of the parties. 
C)  statements made in open court. 
D)  an exchange of oral promises. 
A)  a writing. 
B)  the acts and conduct of the parties. 
C)  statements made in open court. 
D)  an exchange of oral promises.

Question 4

A contract under which one or both parties have not yet fully performed is termed a(n):

Accepted Answer

A)  void agreement. 
B)  executory contract. 
C)  executive contract. 
D)  executed contract. 
A)  void agreement. 
B)  executory contract. 
C)  executive contract. 
D)  executed contract.

Question 5

A contract is essentially an agreement that creates an obligation.

Accepted Answer

A) True 
 B)False

Question 6

The subject matter of a contract can never relate to the performance of personal services.

Accepted Answer

A) True 
 B)False

Question 7

An implied contract is one in which the agreement is shown not by words, written or spoken, but by the acts and conduct of the parties.

Accepted Answer

A) True 
 B)False

Question 8

Quasi-contractual liability will generally be imposed when the cost of performing a contract is greater than had been expected.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

The plaintiff in a quasi-contractual action can recover:

Accepted Answer

A)  lost profits. 
B)  damages for mental distress. 
C)  the reasonable value of the benefit conferred upon the defendant. 
D)  for all the damages sustained. 
A)  lost profits. 
B)  damages for mental distress. 
C)  the reasonable value of the benefit conferred upon the defendant. 
D)  for all the damages sustained.

Question 11

Quasi contracts are fictional contracts.

Accepted Answer

A) True 
 B)False

Question 12

A contract is a(n) ________ agreement for which the _______.:

Accepted Answer

A)  promissory, parties make mutual promises. 
B)  multi-party, law gives a remedy. 
C)  obligation, obligor promises to pay the obligee. 
D)  legally binding, law gives a remedy. 
A)  promissory, parties make mutual promises. 
B)  multi-party, law gives a remedy. 
C)  obligation, obligor promises to pay the obligee. 
D)  legally binding, law gives a remedy.

Question 13

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

Accepted Answer

A) True 
 B)False

Exam 11: Nature and Classes of Contracts: Contracting on the Internet

In a quasi-contract situation, the reasonable value of services or goods to avoid unjust enrichment are called:

A bilateral contract consists of a:

An implied contract is shown by:

A contract under which one or both parties have not yet fully performed is termed a(n):

A contract is essentially an agreement that creates an obligation.

The subject matter of a contract can never relate to the performance of personal services.

An implied contract is one in which the agreement is shown not by words, written or spoken, but by the acts and conduct of the parties.

Quasi-contractual liability will generally be imposed when the cost of performing a contract is greater than had been expected.

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

The plaintiff in a quasi-contractual action can recover:

Quasi contracts are fictional contracts.

A contract is a(n) ________ agreement for which the _______.:

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

The Nature and Sources of Law

The Court System and Dispute Resolution

Business Ethics, Social Forces, and the Law

The Constitution As the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

Crimes

Torts

Intellectual Property Rights and the Internet

The Legal Environment of International Trade

Formation of Contracts: Offer and Acceptance

Capacity and Genuine Assent

Consideration

Legality and Public Policy

Writing, Electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

Discharge of Contracts

Breach of Contract and Remedies

Personal Property and Bailments

Legal Aspects of Supply Chain Management

Nature and Form of Sales

Title and Risk of Loss

Product Liability: Warranties and Torts

Obligations and Performance

Remedies for Breach of Sales Contracts

Kinds of Negotiable Instruments and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

Checks and Funds Transfers

Nature of the Debtor Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

Bankruptcy

Insurance

Agency

Third Persons in Agency

Regulation of Employment

Equal Employment Opportunity Law

Types of Business Organizations

Partnerships

LPs, LLCs, and LLPs

Corporate Formation

Shareholder Rights in Corporations

Securities Regulation

Accountants Liability and Malpractice

Management of Corporations

Real Property

Environmental Law and Land Use Controls

Leases

Decedents Estates and Trusts

Filters

A contract is a(n) __ agreement for which the _.: