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

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

The subject matter of a contract may relate to:

Negotiable instruments are:

The law requires parties to be fair and reasonable in the making of a contract.

Whenever a person receives a benefit for which payment has not been made,there is an unjust enrichment and the value of such benefit must be paid to the person conferring the benefit.

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

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

With regard to a unilateral contract,the offeree does not accept the offer by express agreement,but rather by performance.

The elements of a contract include all of the following except:

The principle behind the quasi contract is to prevent unjust enrichment.

An offeror makes an offer to an offeree.

An agreement arises when one person,the __________,makes an offer and the other person to whom the offer is made,the __________,accepts.

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?