Exam 9: Contract Formation

Debit & Credit Accounting Services and Brickwork Construction Company negotiate a contract.If it has all of the elements necessary for one of the parties to enforce it in court,it is

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

Under the Statute of Frauds,all contracts must be in writing to be enforceable.

Fresh Air Filter & Purification Company and Big Box Commercial Storage Company enter into a contract.To be enforceable,the contract must be in writing if it involves

Eve tells Finlay that she will pay him $50 if he unloads her truck.Finlay's acceptance is complete

U-Can-Own-It Corporation sells appliances to less educated consumers,including Viv,on installment plans.U-Can-Own-It files a suit against Viv when she stops making payments.Viv claims that the deal is unconscionable.The court will most likely consider

A covenant not to compete is enforceable only if it is necessary to restrain trade.

One of the elements of a valid contract is a fair price.

Urban City and Thru-way Construction Company enter into a contract that includes calculations.Urban,whose engineer,Sergei,compiled the figures,discovers later that some numbers were added incorrectly,but Thru-way refuses to make changes.Urban can

New Cell Phone Company offers to buy a laser printer,with a case of paper and an extra cartridge,from Office Products,Inc.(OPI),for $200.Paul,OPI's representative,says,"Okay,but no paper and no extra cartridge." Paul has

Chip's Chips Company agrees to supply Delicioso Café with all the corn chips that it requires for a year.A sudden demand for ethanol results in a shortage of corn,and the price rises sharply.Chip's asks Delicioso to pay a higher price for the chips.This request is

Eustace and Durango Oil Company enter into an oral contract under which Eustace agrees to work on a Durango rig for not less than eighteen months.This contract is enforceable by

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 refuses,claiming that they have no contract.Cody claims they do.What standard determines whether these parties have a contract?

An offer that a statute makes illegal automatically terminates the offer.

An executory contract is one that has been fully performed.

A contract lacking a quantity term,when appropriate,may not be enforceable.

Quality Aluminum Corporation files a suit against Rite Tool Company,claiming that the consideration for their contract is inadequate.The court will most likely not examine the adequacy of the consideration if

John says to Kris,"I would like to sell you my sports memorabilia collection." This is not an offer because it

A contract entered into under undue influence is voidable.

An obligation is enforceable only if it is supported by past consideration.