Exam 10: Nature and Terminology

An express contract must be in writing.

In an express contract, the terms are fully stated in words.

Macro Corporation and Micro, Inc., enter into an agreement. To consti?tute a contract

An offer to form a unilateral contract is accepted by a promise to perform.

Flo tells Gregor that she will buy his textbook from last semester for $65. Gregor agrees. Flo and Gregor have

National Grocers, Inc., enters into a contract with Overland Shipping Company for the de?livery of a shipment of fresh produce. If ambiguities appear in the con?tract, they will be construed against

When Jeff's car breaks down, he asks Kwik Tow, Inc., to tow it from its location to Loyal Repair Shop. There is no discussion of a price, and Jeff and Kwik do not sign any documents. After the tow, Kwik sends Jeff a bill. With respect to Jeff's obligation to pay the bill, this is

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. Under the modern-day view, these parties had

A contract is a promise to act.

A contract between Gamma Software Company and Omega Designs, Inc., ends with the initials "L.S." These initials

No offer may be revoked before it is accepted.

Opie offers to sell his guitar to Pinky for $100. Pinky agrees. They complete and sign a printed form that includes, near the blanks for their signatures, the word "seal." This is

An implied-in-fact contract is implied from the conduct of the parties.

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

A contract can be created only when a promise is given in exchange for another promise.

Cody signs and returns a letter from Deb, referring to Deb's Double-D Ranch and its price. When Cody attempts to complete the deal, Deb re?fuses, claiming that they have no con?tract. Cody claims they do. What standard determines whether these parties have a contract?

Avatar, Inc., and Bling Corporation sign a contract in which Avatar agrees to deliver t-shirts emblazoned with video game characters in exchange for Bling's prom?ise to pay. Avatar delivers. The contract is

Pete, a judge, can apply the doctrine of quasi contract to a dispute be?tween Quality Service Company and Regulated Office Systems

A quasi contract is a fictional contract.

Cathy assures Don that she will deliver his products as he directs. An as?surance that one will do something in the future is part of the defini?tion of