Exam 10: Nature and Terminology

Bay Construction, Inc., a contractor, asks Cool Electric, a subcontractor, to provide certain services. Nothing is expressed about payment. Cool provides the services, but Bay refuses to pay. In Cool's suit to recover, the chief issue is most likely to be whether these parties had

Paco offers to pay Quik Delivery (QD) $50 if it picks up and delivers to him a package from Rich within 30 minutes. QD can ac?cept the offer only by meeting the deadline. If QD performs as directed, these parties will 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

Freida and Gail enter into a bilateral contract, which is created when Freida gives a promise in exchange for Gail's

An executed contract is one that has been fully performed.

An unenforceable contract is one that cannot be enforced because of cer?tain legal defenses against it.

A voidable contract is a valid contract that can be avoided at the option of at least one of the parties to it.

Great Marketing Company and Hot Tunes, Inc., sign a document that states Great agrees to create a marketing campaign for Hot and Hot agrees to pay Great for the service. Great and Hot have

Some promises are not binding.

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

A contract under seal is a formal contract.

Dalton contracts to tutor Ellen in the principles of business law. For the breach of a contractual promise, contract law entitles innocent parties to

Bob claims that Carol breached their contract. Carol responds that she never intended to enter into a contract with Bob. The intent to enter into a contract is determined with reference to

Dot, a real estate agent, tells Ed, a home seller, that her commission is 12 percent. Ed agrees that Dot can sell his house but refuses to sign a contract unless the amount of the commission is reduced. After the house is sold, Ed refuses to pay 12 percent. Dot is most likely to recover

The existence of an express contract does not bar an action in quasi con?tract concerning the same transaction.

A unilateral contract is formed when the one receiving the offer com?pletes the re?quested act or performance.

Eve and Frank enter an express contract for the construction of a warehouse. Express contract terms are given

Lou claims that he and Mira entered into an implied-in-fact contract. To establish this contract, it is not necessary to show that

"Consideration" refers to the legality of the subject matter of a contract.

Under the objective theory of contracts, the intention to enter into a con?tract is judged by outward, objective facts as interpreted by a reasonable person.