A) When either the offeror or the offeree dies. B) When a counteroffer is substituted. C) By rejection in the specified manner. D) By withdrawal of the offeror. E) All of the above. A) When either the offeror or the offeree dies. B) When a counteroffer is substituted. C) By rejection in the specified manner. D) By withdrawal of the offeror. E) All of the above.

Exam 11: Contracts

The Black Eyed Peas have agreed to appear at your university for the sum of $5,000,000; however, a Dallas promoter offers $100,000,000 for a performance on the same night. When the band accepts the Dallas offer, the university sponsor files for breach of contract. Which legal remedies would be appropriate?

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(Multiple Choice)

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Question 1

Correct Answer:

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Identify the types of contracts that the Statute of Frauds affects and its effect.

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Question 2

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The Statute of Frauds affects certain types of contracts, including contracts for the sale of land, contracts that cannot be performed within one year, contracts for the sale of goods over a certain dollar amount, contracts in consideration of marriage, and contracts for the sale of securities.

The effect of the Statute of Frauds is that these types of contracts must be in writing in order to be enforceable in court. This means that oral agreements for these types of contracts are generally not legally binding. The purpose of the Statute of Frauds is to prevent fraudulent claims and misunderstandings by requiring written evidence of certain types of contracts. It provides a level of protection for parties entering into these types of agreements and ensures that there is a clear record of the terms and conditions.

The current transfer of a contractual interest to a third party is:

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Question 3

Correct Answer:

Verified

Ricardo and Miriam entered into an oral agreement that Ricardo will sell Miriam's company the land on which to build a shopping center for $100,000,000. The agreement:

(Multiple Choice)

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Question 4

Discuss warranties, especially those found in the Uniform Commercial Code.

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Question 5

Which of the following is a requirement for a valid contract?

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Question 6

Ruth cared for her husband during his illness (Alzheimer's) and was treated for depression herself by a psychiatrist. During all of this, her most trusted financial advisor was her accountant, Dewey Cheatum. Three months after her husband's death, Ruth conveyed property valued at $500,000 to Dewey for the sum of $10. Under what theory would Ruth seek to cancel the property transfer?

(Multiple Choice)

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Question 7

Distinguish between an offer and a solicitation to offer.

(Short Answer)

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Question 8

Identify and discuss various types of business relations including, but not limited to, ownership interests, liability, and tax issues.

(Essay)

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Question 9

Following throat surgery, Julie Andrews lost her five-octave singing voice. Because of her illness she was able to withdraw from her singing contracts without penalty but not her acting or directing contracts. This defense of breach of contract is known as:

(Multiple Choice)

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Question 10

Discuss the conditions under which an offer terminates.

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Question 11

George recently found a painting in his grandmother's attic. Being untrained in art, he had the piece appraised by the renowned art auction house, Sotheby's of London, which verified it as a lost Monet. George agrees to sell it to you for $30,000,000. It now transpires that the painting is a forgery. The contract is voidable because of:

(Multiple Choice)

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Question 12

Which of the following is not correct about the Uniform Commercial Code?

(Multiple Choice)

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Question 13

The primary purpose of contract law is:

(Multiple Choice)

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Question 14

The rule that a person cannot use evidence of oral statements made before or at the time the contract was signed to alter the written terms is:

(Multiple Choice)

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Question 15

An offer terminates:

(Multiple Choice)

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Question 16

Consideration for contracts: -...

(Multiple Choice)

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Question 17

Peter is a renowned artist who has been commissioned to produce a portrait of the Chief Justice of the United States. Peter's business is a:

(Multiple Choice)

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Question 18

Discuss a breach of contract and remedies for the breach of contract.

(Essay)

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Question 19

Discuss assent and the various factors that may destroy the reality of the consent.

(Essay)

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Question 20

Showing 1 - 20 of 27

Identify the types of contracts that the Statute of Frauds affects and its effect.

The current transfer of a contractual interest to a third party is:

Ricardo and Miriam entered into an oral agreement that Ricardo will sell Miriam's company the land on which to build a shopping center for $100,000,000. The agreement:

Discuss warranties, especially those found in the Uniform Commercial Code.

Which of the following is a requirement for a valid contract?

Distinguish between an offer and a solicitation to offer.

Identify and discuss various types of business relations including, but not limited to, ownership interests, liability, and tax issues.

Following throat surgery, Julie Andrews lost her five-octave singing voice. Because of her illness she was able to withdraw from her singing contracts without penalty but not her acting or directing contracts. This defense of breach of contract is known as:

Discuss the conditions under which an offer terminates.

Which of the following is not correct about the Uniform Commercial Code?

The primary purpose of contract law is:

The rule that a person cannot use evidence of oral statements made before or at the time the contract was signed to alter the written terms is:

An offer terminates:

Consideration for contracts: -...

Peter is a renowned artist who has been commissioned to produce a portrait of the Chief Justice of the United States. Peter's business is a:

Discuss a breach of contract and remedies for the breach of contract.

Discuss assent and the various factors that may destroy the reality of the consent.

Introduction

History and the Law

Court Organization

Procedure and Evidence

Limitations

Constitutional Law

Criminal Law

Administrative Law

Environmental Law

Torts

Property

Family Law

Conclusion

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