Exam 9: Nature and Classification

Every contract involves at least two parties.

The intention to enter into a contract is judged by objective facts as interpreted by a reasonable person.

Holiday Sales Company and Global Distributors, Inc., enter into a contract for the delivery of imported specialty goods. Until the goods are delivered and paid for, these parties have

Clay offers to pay Dot $50 for a golf lesson for Eula. They agree to meet the day after tomorrow to exchange the cash for the lesson. These parties have

A contract is valid only if both of the parties entering into it have the capacity to do so.

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

Jim tells Dana that he will take her out to lunch on Thursday. Jim has made Dana a

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

Expert Pavers, Inc., contracts with Fabricated Building Corporation to repave Fabricated's parking lot for which Fabricated agrees to pay. The requirements of this, and any other, contract do not include

Debit & Credit Accounting Services and Brickwork Construction Company negotiate a contract. Terms in the contract that are the subject of separate negotiation will be considered subordinate to

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

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

Cynthia tells Darryl that she will deliver his boxes of Paradise Cookies as he directs. A declaration that one will do something in the future is part of the definition of

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

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

Informal contracts require a special form or method of creation.

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

On behalf of the rock group Uno, their manager Thalia agrees to a performance in Seaside Amphitheater on July 4. Rex, acting for Seaside, sends a written copy of the agreement to Thalia to be signed. If Thalia signs the copy, the parties will have

Phil agrees to work for Vacation Resorts, Inc., as a chef. In determining whether a contract has been formed, an element of prime importance is

Jonathon promises to pay child support and alimony to his ex-wife every month after their divorce. Jonathon has