Exam 13: Introduction to Contracts

When written documents are signed by a party that makes an unconditional promise to pay the holder of the instrument a specific sum of money on demand,or at a certain time,they are called?

Today,courts hold that once an offeree begins performance on a unilateral contract,the offeror must hold the offer open for a reasonable time to allow the offeree to complete the performance.

What number of states will still allow a contract without consideration to be enforced if it is under seal?

A contract is said to be ,once all the terms of the contract have been fully performed.

Which of the following statements is true about both ESIGN and UETA?

Patrick and Britt are in agreement that Patrick will pay Britt $2,000 for a used vehicle.At what point is there a binding contract?

[Book Sale] Yasmeen offered to sell Dylan a used business law book for $50.She told him that he could use it in his upcoming business law class the next semester.However,there was a problem with the book;it was several editions old.Dylan was not aware of that fact,and neither was Yasmeen.When Dylan took the book to class and realized the problem,he went back to Yasmeen requesting a refund.Yasmeen refused to return his money.She claimed that she did not commit fraud because subjectively she thought that the book was correct,and that a binding contract existed.The book,however,is outdated and cannot be appropriately used in the class. -Which of the following would describe Yasmeen's role in the transaction?

If a quasi-contract is imposed,the amount of damages for a breach is based upon the fair market value of any service provided to the defendant.

Of the following,which was introduced by prominent legal scholars who were recruited by the American Law Institute?

Which of the following is true regarding Brendan's statement that he did not have to pay the emergency room charges?

The Restatement Second)of the Law of Contracts is not actually the law itself.

The purpose of a covenant not to compete,in the employer/employee context,is to restrict what an employee may do after leaving a company.

A[n] _ is a promise or set of promises for the breach of which the law gives a remedy or the performance of which the law in some way recognizes a duty.

A[n] ________ arises when a person acknowledges in court that he or she will perform some specified act or will pay a price upon failure to do so.

When there is a law that prohibits the courts from enforcing a valid contract,it may be valid but ________.

A[n] ________ contract is commonly defined as a promise in exchange for a promise.

Congress passed the Uniform Electronic Transactions Act UETA).

Which of the following is sometimes referred to as an implied-in-law contract?

Which of the following are examples of formal contracts?

Serena tells Flo that any judge would find that the contract calls for purple flowers,and that Flo breached the contract by providing pink flowers instead of purple.Is she correct?