Exam 8: Introduction to Contracts

A void contract is enforceable if it is in writing.

"Consideration" refers to the voluntary assent of all of the parties to a contract.

All contracts must be in writing to be enforceable.

Some promises create moral,but not legal,obligations.

Lana applies for a firefighter's job with Metro City,which responds with a letter setting an appointment for a medical exam.The letter also states that it is "an employment offer conditioned on the applicant passing the exam." This letter is

Letters of credit are formal contracts that are often used in international sales contracts.

GR8 Marketing Company and Brainfreeze Tunes,Inc.,sign a document that states GR8 agrees to create a marketing campaign for Brainfreeze,which agrees to pay GR8 for the service.GR8 and Brainfreeze have

A check,like other negotiable instruments,is a formal contract.

A quasi contract is not a true contract.

An offer to form a bilateral contract is accepted only by promising to perform the contract performance.

Kathryn signs a lease agreement for an apartment.Kathryn has entered into a(n)

Jack promises to buy Lizette's used textbook for $60.Jack is

An otherwise valid contract may be unenforceable if it is not in writing.

Opie offers to sell his guitar to Pinky for $200.Pinky agrees.They complete and sign a printed form and Pinky gives Opie a check for the price.The check is

A quasi contract is not enforceable by a court.

One purpose of quasi contracts is to prevent unjust enrichment of one party at the expense of another.

Bay City Construction,Inc.,a contractor,asks Cool Electric,a subcontractor,to provide certain services.Nothing is said about payment.Cool provides the services,but Bay City refuses to pay.In Cool's suit to recover,the chief issue is most likely to be whether these parties had

Ellen offers to sell her math textbook to Julia for $50.Julia does not respond.Ellen and Julia do not have a contract because they lack the requirement of

Cody signs and returns a letter from Dora,referring to Dora's Bar-D Ranch and its price.When Cody attempts to complete the deal,Dora re?fuses,claiming that they have no con?tract.Cody claims they do.What standard determines whether these parties have a contract?

The only requirement of a valid contract is that it be voluntarily entered into.