Exam 7: Nature and Classification

Livewire Company and Kitchen Products,Inc. ,sign a document that states Livewire agrees to design a Web site for Kitchen Products,which agrees to pay for the service.Livewire and Kitchen Products have made

An implied contract is implied from the conduct of the parties.

Phil enters into a contract with Vacation Resorts,Inc. ,to work as a chef.Under the plain meaning rule,the meaning of this contract must be determined by reference to

A voidable contract is a valid contract that can be avoided at the option of at least one of the parties to it.

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

If a voidable contract is avoided,the parties to it are released from it.

A quasi contract arises from a mutual agreement between two parties.

Ed,a businessperson,is a friend of Fran,the owner of a candy store.Every day,Ed spends five minutes in Fran's candy store,looking at the candy and usually buying one or two candy bars.One afternoon,Ed goes into the store,looks at the candy,and picks up a $1 candy bar.Ed waves the candy at Fran without saying a word and walks out.Is there a contract If so,how would it be classified in terms of formation,performance,and enforceability?

Flo tells Gregor that she will buy his textbook from last semester for $65.Gregor agrees.Flo and Gregor have

InTown Delivery Service promises to deliver a certain couch to Kurt,who promises to pay for the service.If InTown does not perform,the firm may be required to

Greco promises to buy illegal copies of CDs and DVDs from Fava,who promises to deliver on April 15.These promises are most likely

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

The doctrine of quasi contract applies only if there is an actual contract.

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

A promise is an assertion that something will or will not happen in the future.

A contract is a promise to act.

A void contract is enforceable if it is in writing.

Bay City Construction,Inc. ,a contractor,asks Cool Electric,a subcontractor,to provide certain services.Nothing is expressed 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

Tania promises to buy Saki's handheld game-player for $75.Saki is

Peter offers to pay Quik Delivery (QD)$50 if it picks up and delivers to him a package from Rico within 30 minutes.QD can accept the offer only by meeting the deadline.If QD performs as directed,these parties will have