Question 1

Contracts are involuntary agreements entered into by parties.

Accepted Answer

A) True 
 B)False  False

Question 2

Under the common law an offeror may revoke an offer:

Accepted Answer

A) At any time. 
B) After the offeree has rejected the offer. 
C) After the offeree has accepted the offer. 
D) Prior to the acceptance of the offer. 
A) At any time. 
B) After the offeree has rejected the offer. 
C) After the offeree has accepted the offer. 
D) Prior to the acceptance of the offer. D

Question 3

The terms of a contract become private law between the parties.

Accepted Answer

A) True 
 B)False  True

Question 4

A contract is an agreement that is enforceable in a court of law.

Accepted Answer

A) True 
 B)False

Question 5

A contract to perform an illegal act is:

Accepted Answer

A) An illegal contract. 
B) Void. 
C) Cannot be enforced. 
D) All of the above. 
A) An illegal contract. 
B) Void. 
C) Cannot be enforced. 
D) All of the above.

Question 6

In an option contract,the offeror agrees not to sell the property to another party during the option period.

Accepted Answer

A) True 
 B)False

Question 7

In the evolution of contracts,the following is not true:

Accepted Answer

A) The use of contracts goes back to ancient times. 
B) The common law of contracts was developed in France around the 13th century. 
C) The United States adopted a laissez-faire approach to the law of contracts. 
D) None of the above. 
A) The use of contracts goes back to ancient times. 
B) The common law of contracts was developed in France around the 13th century. 
C) The United States adopted a laissez-faire approach to the law of contracts. 
D) None of the above.

Question 8

The object of the contract may be for any purpose.

Accepted Answer

A) True 
 B)False

Question 9

To have an enforceable contract,there must be an agreement between the parties.

Accepted Answer

A) True 
 B)False

Question 10

An agreement involves:

Accepted Answer

A) An offer 
B) An offeree. 
C) An offerer. 
D) All of the above. 
A) An offer 
B) An offeree. 
C) An offerer. 
D) All of the above.

Question 11

Examples of contracts are:

Accepted Answer

A) Sales contracts. 
B) Rental agreements. 
C) Licensing agreements. 
D) All of the above. 
A) Sales contracts. 
B) Rental agreements. 
C) Licensing agreements. 
D) All of the above.

Question 12

In a contract:

Accepted Answer

A) The offeree makes an offer 
B) The offeror is made an offer 
C) The offeree promises to do or to refrain from doing something. 
D) The offeree has the power to create a contract. 
A) The offeree makes an offer 
B) The offeror is made an offer 
C) The offeree promises to do or to refrain from doing something. 
D) The offeree has the power to create a contract.

Question 13

An offeror must objectively intend to be bound by the offer.

Accepted Answer

A) True 
 B)False

Question 14

The following have the burden of proof of incapacity to contract:

Accepted Answer

A) The minor. 
B) The guardian. 
C) The conservator. 
D) All of the above. 
A) The minor. 
B) The guardian. 
C) The conservator. 
D) All of the above.

Question 15

Special rules have been developed to apply to electronic commerce.

Accepted Answer

A) True 
 B)False

Question 16

Mental incapacity usually arises from:

Accepted Answer

A) Mental illness. 
B) Brain damage. 
C) Senility. 
D) All of the above. 
A) Mental illness. 
B) Brain damage. 
C) Senility. 
D) All of the above.

Question 17

Consideration may involve:

Accepted Answer

A) Money. 
B) Performance of an act. 
C) Property. 
D) All of the above. 
A) Money. 
B) Performance of an act. 
C) Property. 
D) All of the above.

Question 18

An offer does not necessary need to be communicated to the offeree.

Accepted Answer

A) True 
 B)False

Question 19

The use on contracts goes back to ancient times.

Accepted Answer

A) True 
 B)False

Question 20

A nondisclosure agreement does not:

Accepted Answer

A) Provide for the equitable sharing of information. 
B) Swear the signatory to secrecy. 
C) Usually involve takeovers and corporate deals. 
D) Protect people that have great ideas. 
A) Provide for the equitable sharing of information. 
B) Swear the signatory to secrecy. 
C) Usually involve takeovers and corporate deals. 
D) Protect people that have great ideas.

Contracts are involuntary agreements entered into by parties.

Under the common law an offeror may revoke an offer:

The terms of a contract become private law between the parties.

A contract is an agreement that is enforceable in a court of law.

A contract to perform an illegal act is:

In an option contract,the offeror agrees not to sell the property to another party during the option period.

In the evolution of contracts,the following is not true:

The object of the contract may be for any purpose.

To have an enforceable contract,there must be an agreement between the parties.

An agreement involves:

Examples of contracts are:

In a contract:

An offeror must objectively intend to be bound by the offer.

The following have the burden of proof of incapacity to contract:

Special rules have been developed to apply to electronic commerce.

Mental incapacity usually arises from:

Consideration may involve:

An offer does not necessary need to be communicated to the offeree.

The use on contracts goes back to ancient times.

A nondisclosure agreement does not:

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Real and Personal Property

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Exam 7: Contracts and E-Commerce

Contracts are involuntary agreements entered into by parties.

Under the common law an offeror may revoke an offer:

The terms of a contract become private law between the parties.

A contract is an agreement that is enforceable in a court of law.

A contract to perform an illegal act is:

In an option contract,the offeror agrees not to sell the property to another party during the option period.

In the evolution of contracts,the following is not true:

The object of the contract may be for any purpose.

To have an enforceable contract,there must be an agreement between the parties.

An agreement involves:

Examples of contracts are:

In a contract:

An offeror must objectively intend to be bound by the offer.

The following have the burden of proof of incapacity to contract:

Special rules have been developed to apply to electronic commerce.

Mental incapacity usually arises from:

Consideration may involve:

An offer does not necessary need to be communicated to the offeree.

The use on contracts goes back to ancient times.

A nondisclosure agreement does not:

The Nature of Law and Critical Legal Thinking

The American Court System

Civil Litigation and Alternative Dispute Resolution

Criminal Law and Ethics

Constitutional Law and Freedoms

Torts and Product Liability

Real and Personal Property

Family Law

Wills,Trusts,and Estates

Business Organizations

Agency, Employment, and Equal Opportunity Law

Credit, Suretyship, and Bankruptcy

Intellectual Property and Internet Law

Administrative Law, Consumer, Investor, and Environmental Protection

Concepts in Law

Filters