Question 1

Which statement is true regarding Jackson's assertion that Gina must pay him if the neighbor fails to do so?

Accepted Answer

A) He is correct because an implied contract existed,and he made an honest mistake for which Gina must accept the risk. 
B) He is correct because an express contract existed,and he made an honest mistake for which Gina must accept the risk. 
C) He is incorrect unless he can somehow establish that Gina gave him poor directions or was otherwise at fault in informing him which deck to paint,and the contract remains executory. 
D) He is correct because a valid contract existed;and,after his performance,it is considered executed. 
E) He is correct because an implied-in-law contract existed. 
A) He is correct because an implied contract existed,and he made an honest mistake for which Gina must accept the risk. 
B) He is correct because an express contract existed,and he made an honest mistake for which Gina must accept the risk. 
C) He is incorrect unless he can somehow establish that Gina gave him poor directions or was otherwise at fault in informing him which deck to paint,and the contract remains executory. 
D) He is correct because a valid contract existed;and,after his performance,it is considered executed. 
E) He is correct because an implied-in-law contract existed.

Question 2

Which analysis of the effect of the discovery that Dylan has a book that is not appropriate for the class would be correct?

Accepted Answer

A) Dylan is stuck with the book because Yasmeen subjectively thought it was the correct book,and Dylan did not openly disagree before the contract was executed. 
B) Dylan is stuck with the book because Yasmeen did not commit fraud. 
C) Because the parties had a mutual misunderstanding,the parties did not come to a meeting of the minds,and there is no contract. 
D) Because both parties were mistaken,at Dylan's option he may return the book;but only half of the purchase price would be required as a refund from Yasmeen because she is not guilty of fraud. 
E) Dylan is stuck with the book because he objectively agreed to purchase it. 
A) Dylan is stuck with the book because Yasmeen subjectively thought it was the correct book,and Dylan did not openly disagree before the contract was executed. 
B) Dylan is stuck with the book because Yasmeen did not commit fraud. 
C) Because the parties had a mutual misunderstanding,the parties did not come to a meeting of the minds,and there is no contract. 
D) Because both parties were mistaken,at Dylan's option he may return the book;but only half of the purchase price would be required as a refund from Yasmeen because she is not guilty of fraud. 
E) Dylan is stuck with the book because he objectively agreed to purchase it.

Question 3

[Wedding flowers] Serena planned a backyard wedding for her daughter,Naomi,and contacted Flo's Flowers.Flo and Serena discussed terms for Naomi's wedding,including purple flowers,delivery at 3:00 p.m. ,and a total cost of $2,000.Flo e-mailed Serena a ten-page pre-printed contract in tiny print,which Serena thought was very long and confusing,but Flo had the best flowers in town.Serena glanced at the contract and noticed the price of "Three Thousand Dollars," which was not what they agreed.She typed a line through it and typed "$2K" in the margin along with her initials.Since she did not see anything about flower color,she added on the last page "As discussed,please provide purple flowers." She also noticed the delivery time was 5:00 p.m.Since they had agreed on 3:00 p.m. ,she changed that item,and then typed her name at the bottom of the contract and e-mailed it back to Flo.When the big day came two months later,Flo's delivery truck did not arrive until 5:00 p.m. ,and brought pink flower arrangements.The delivery workers gave Serena an invoice for$3,000 and demanded payment.Serena was livid and demanded they provide purple flowers,as agreed.Unfortunately,they had no flowers left in the delivery truck and the store was closed.Guests were arriving and Serena had no choice but to use the pink flowers.She begrudgingly handed over a check for $2,000.The following day,Flo called demanding payment of the remaining one thousand dollars.Serena told her she would not pay because the flowers were pink,the price was wrong,and they arrived late.Flo referred Serena to Section 29 of the contract which states,"Pigment may be redesigned at any time."
-Following standards of contract interpretation,what was the proper price of the flowers,according to the terms of the contract?

Accepted Answer

A) $2,000 because that was what they agreed and the judge would follow the intent of the parties. 
B) $2,000,because that was the latter act of the contract. 
C) $2,000 because Serena may cross out terms if initialed. 
D) $3,000,because that was how it was written on the form and Serena has no right to cross it out. 
E) $3,000 because the words were written out. 
A) $2,000 because that was what they agreed and the judge would follow the intent of the parties. 
B) $2,000,because that was the latter act of the contract. 
C) $2,000 because Serena may cross out terms if initialed. 
D) $3,000,because that was how it was written on the form and Serena has no right to cross it out. 
E) $3,000 because the words were written out.

Question 4

If an attorney states that a contract lacks "the proper form," it is typically an indication of which of the following?

Accepted Answer

A) The contract lacked a writing. 
B) The contract lacked consideration. 
C) The contract lacked a proper acceptance. 
D) The contract lacked both an appropriate offer and an appropriate acceptance. 
E) The agreement lacked a proper offer. 
A) The contract lacked a writing. 
B) The contract lacked consideration. 
C) The contract lacked a proper acceptance. 
D) The contract lacked both an appropriate offer and an appropriate acceptance. 
E) The agreement lacked a proper offer.

Question 5

The ________ is the person who agrees to the terms of an offer made by the other party.

Accepted Answer

A) Agreeor 
B) Agree 
C) Offeree 
D) Offeror 
E) Inquirer 
A) Agreeor 
B) Agree 
C) Offeree 
D) Offeror 
E) Inquirer

Question 6

In the Case Opener,Hallmark claimed that an arbitration ruling against a former employee should be upheld.Which of the following was the result of the case?

Accepted Answer

A) The former employee could proceed with an action in court because there was no consideration for the arbitration agreement and,therefore,no valid agreement. 
B) The former employee was allowed to proceed in court because she had exhausted her remedies in the arbitration arena. 
C) The former employee was barred from proceeding in court based on the statute of limitations which expired while she was pursuing her remedies in arbitration. 
D) The former employee could proceed with an action in court because,as a matter of law,arbitration agreements are barred in the arbitration context. 
E) The former employee was barred from proceeding in court because of the binding arbitration clause. 
A) The former employee could proceed with an action in court because there was no consideration for the arbitration agreement and,therefore,no valid agreement. 
B) The former employee was allowed to proceed in court because she had exhausted her remedies in the arbitration arena. 
C) The former employee was barred from proceeding in court based on the statute of limitations which expired while she was pursuing her remedies in arbitration. 
D) The former employee could proceed with an action in court because,as a matter of law,arbitration agreements are barred in the arbitration context. 
E) The former employee was barred from proceeding in court because of the binding arbitration clause.

Question 7

In Baum v.Helget Gas Products,Inc. ,what was the outcome of the handwritten notes that were claimed to comprise an employment contract?

Accepted Answer

A) Handwritten notes can constitute a unilateral contract only. 
B) Handwritten notes can comprise certain types of contracts,but not an employment contract. 
C) Handwritten notes are too informal to comprise an employment contract. 
D) Handwritten notes can be considered an enforceable employment contract. 
E) Handwritten notes can be part of an employment contract,if a formal contract is subsequently executed. 
A) Handwritten notes can constitute a unilateral contract only. 
B) Handwritten notes can comprise certain types of contracts,but not an employment contract. 
C) Handwritten notes are too informal to comprise an employment contract. 
D) Handwritten notes can be considered an enforceable employment contract. 
E) Handwritten notes can be part of an employment contract,if a formal contract is subsequently executed.

Question 8

The legal ability to enter into a binding agreement is known as what?

Accepted Answer

A) Contractual capacity 
B) Informed consent 
C) Emancipation 
D) Majority 
E) Contractual knowledge 
A) Contractual capacity 
B) Informed consent 
C) Emancipation 
D) Majority 
E) Contractual knowledge

Question 9

In which of the following does a contract arise not from words but from the conduct of the parties?

Accepted Answer

A) Liquidated contracts 
B) Bilateral contracts 
C) Implied contracts 
D) Unilateral contracts 
E) Express contracts 
A) Liquidated contracts 
B) Bilateral contracts 
C) Implied contracts 
D) Unilateral contracts 
E) Express contracts

Exam 13: Introduction to Contracts

Which statement is true regarding Jackson's assertion that Gina must pay him if the neighbor fails to do so?

Which analysis of the effect of the discovery that Dylan has a book that is not appropriate for the class would be correct?

If an attorney states that a contract lacks "the proper form," it is typically an indication of which of the following?

The ________ is the person who agrees to the terms of an offer made by the other party.

In the Case Opener,Hallmark claimed that an arbitration ruling against a former employee should be upheld.Which of the following was the result of the case?

In Baum v.Helget Gas Products,Inc. ,what was the outcome of the handwritten notes that were claimed to comprise an employment contract?

The legal ability to enter into a binding agreement is known as what?

In which of the following does a contract arise not from words but from the conduct of the parties?

An Introduction to Dynamic Business Law

Business Ethics

The Uslegal System

Alternative Dispute Resolution

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Agreement

Consideration

Capacity and Legality

Legal Assent

Contracts in Writing

Third-Party Rights to Contracts

Discharge and Remedies

Introduction to Sales and Lease Contracts

Title,risk of Loss,and Insurable Interest

Performance and Obligations Under Sales and Leases

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, holder in Due Course, and Defenses

Liability, defenses, and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organization

Partnerships: Nature, formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, officers, and Shareholders

Corporations: Mergers, consolidations, terminations

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

Wills and Trusts

Filters