Question 1

A unilateral contract is formed when the one receiving the offer completes the requested act or performance.

Accepted Answer

A) True 
 B)False

Question 2

On Monday,Neil tells Outdoor Landscaping,Inc.,that he will pay Outdoor $500 if a variety of tasks are completed by Friday.On Wednesday,when Outdoor is more than half done with the work,Neil says that he has changed his mind.These parties had

Accepted Answer

A)  an expired contract when Neil said that he had changed his mind. 
B)  a quasi contract when Neil said that he would pay for certain work. 
C)  a unilateral contract as soon as Outdoor began to perform. 
D)  no contract. 
A)  an expired contract when Neil said that he had changed his mind. 
B)  a quasi contract when Neil said that he would pay for certain work. 
C)  a unilateral contract as soon as Outdoor began to perform. 
D)  no contract.

Question 3

Mona asserts that a contract she entered into with Nate is unenforceable.Defenses to the enforcement of a contract include

Accepted Answer

A)  a desire not to perform. 
B)  adverse economic consequences. 
C)  results that do not match expectations. 
D)  the lack of a party's genuine assent. 
A)  a desire not to perform. 
B)  adverse economic consequences. 
C)  results that do not match expectations. 
D)  the lack of a party's genuine assent.

Question 4

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

Accepted Answer

A)  a bilateral contract that Lana accepted by applying for the job. 
B)  a quasi contract on which Lana can rely for employment. 
C)  a unilateral contract that Lana can accept by passing the exam. 
D)  no contract. 
A)  a bilateral contract that Lana accepted by applying for the job. 
B)  a quasi contract on which Lana can rely for employment. 
C)  a unilateral contract that Lana can accept by passing the exam. 
D)  no contract.

Question 5

Cory enters into a contract with Dian to act as her personal sports trainer.If they later dispute the meaning,and the contract contains unclear terms,the rules of contract interpretation will give effect to

Accepted Answer

A)  the parties' intent as expressed in their contract. 
B)  what the defendant claims was the parties' intent. 
C)  what the plaintiff claims was the parties' intent. 
D)  what the parties now agree they intended. 
A)  the parties' intent as expressed in their contract. 
B)  what the defendant claims was the parties' intent. 
C)  what the plaintiff claims was the parties' intent. 
D)  what the parties now agree they intended.

Question 6

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

Accepted Answer

A)  a formal contract. 
B)  an actual contract. 
C)  an implied-in-fact contract. 
D)  a voidable contract. 
A)  a formal contract. 
B)  an actual contract. 
C)  an implied-in-fact contract. 
D)  a voidable contract.

Question 7

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

Accepted Answer

A)  any available evidence. 
B)  any relevant extrinsic evidence. 
C)  the face of the instrument. 
D)  the later testimony of the parties. 
A)  any available evidence. 
B)  any relevant extrinsic evidence. 
C)  the face of the instrument. 
D)  the later testimony of the parties.

Question 8

One of the requirements of a valid contract is its acceptance.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A)  an executee. 
B)  an offeror. 
C)  a promisee. 
D)  a promisor. 
A)  an executee. 
B)  an offeror. 
C)  a promisee. 
D)  a promisor.

Question 10

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

Accepted Answer

A)  a bilateral contract. 
B)  a trilateral contract. 
C)  a unilateral contract. 
D)  no contract. 
A)  a bilateral contract. 
B)  a trilateral contract. 
C)  a unilateral contract. 
D)  no contract.

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Offers may not be revoked before they are accepted.

Accepted Answer

A) True 
 B)False

Question 13

Demi promises to buy a house from Caleb,who promises to vacate the property on June 1.If these promises are in writing,they are most likely

Accepted Answer

A)  enforceable. 
B)  unenforceable. 
C)  void. 
D)  voidable. 
A)  enforceable. 
B)  unenforceable. 
C)  void. 
D)  voidable.

Question 14

Under the plain meaning rule,a court will enforce a contract,in which the writing is clear and unequivocal.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Green Grocers,Inc.,enters into a contract with Hiway Transport Company for the delivery of a shipment of fresh produce.If the language in the contract has more than one meaning,it will be construed against

Accepted Answer

A)  the party who drafted the contract. 
B)  the party with the greater bargaining power. 
C)  the promisor. 
D)  the promisee. 
A)  the party who drafted the contract. 
B)  the party with the greater bargaining power. 
C)  the promisor. 
D)  the promisee.

Question 17

Holiday Sales Company and Global Distributors,Inc.,enter into an express contract for the delivery of imported specialty goods.Express contract terms are given

Accepted Answer

A)  less priority than the parties' prior dealing. 
B)  less priority than the trade usage in the parties' industry. 
C)  less priority than the parties' course of performance. 
D)  more priority than the prior dealing, course of performance, and trade usage. 
A)  less priority than the parties' prior dealing. 
B)  less priority than the trade usage in the parties' industry. 
C)  less priority than the parties' course of performance. 
D)  more priority than the prior dealing, course of performance, and trade usage.

Question 18

An express contract must be in writing.

Accepted Answer

A) True 
 B)False

Question 19

To be valid,a contract must be enforceable by all of the parties to it.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 9: Nature and Classification

A unilateral contract is formed when the one receiving the offer completes the requested act or performance.

On Monday,Neil tells Outdoor Landscaping,Inc.,that he will pay Outdoor $500 if a variety of tasks are completed by Friday.On Wednesday,when Outdoor is more than half done with the work,Neil says that he has changed his mind.These parties had

Mona asserts that a contract she entered into with Nate is unenforceable.Defenses to the enforcement of a contract include

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

Cory enters into a contract with Dian to act as her personal sports trainer.If they later dispute the meaning,and the contract contains unclear terms,the rules of contract interpretation will give effect to

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

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

One of the requirements of a valid contract is its acceptance.

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

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

Offers may not be revoked before they are accepted.

Demi promises to buy a house from Caleb,who promises to vacate the property on June 1.If these promises are in writing,they are most likely

Under the plain meaning rule,a court will enforce a contract,in which the writing is clear and unequivocal.

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

Green Grocers,Inc.,enters into a contract with Hiway Transport Company for the delivery of a shipment of fresh produce.If the language in the contract has more than one meaning,it will be construed against

Holiday Sales Company and Global Distributors,Inc.,enter into an express contract for the delivery of imported specialty goods.Express contract terms are given

An express contract must be in writing.

To be valid,a contract must be enforceable by all of the parties to it.

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

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