Question 1

Under the Convention on Contracts for the International Sale of Goods, consideration is not required to form a contract.

Accepted Answer

A) True 
 B)False

Question 2

Contract law did not develop according to a conscious plan.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is true with regard to the Uniform Commercial Code UCC)?

Accepted Answer

A)  The UCC is a model law developed exclusively by the National Conference of Commissioners on Uniform State Laws. 
B)  It is a national law not enacted by Congress. 
C)  The final draft of the UCC was published in 1942. 
D)  The UCC is not a uniform state law. 
E)  The UCC is entirely uniform as all states have adopted at the same stage of its development. 
A)  The UCC is a model law developed exclusively by the National Conference of Commissioners on Uniform State Laws. 
B)  It is a national law not enacted by Congress. 
C)  The final draft of the UCC was published in 1942. 
D)  The UCC is not a uniform state law. 
E)  The UCC is entirely uniform as all states have adopted at the same stage of its development.

Question 4

The Restatement Second) of Contracts won prompt respect in the courts and has been cited in innumerable cases.

Accepted Answer

A) True 
 B)False

Question 5

Not all rights are extinguished because a contract is unenforceable.

Accepted Answer

A) True 
 B)False

Question 6

_____ is the degree to which a contract agreement is manifest to those not party to it.

Accepted Answer

A)  Mutuality 
B)  Enforceability 
C)  Explicitness 
D)  Completion 
E)  Promise 
A)  Mutuality 
B)  Enforceability 
C)  Explicitness 
D)  Completion 
E)  Promise

Question 7

Which of the following forms part of Article 2?

Accepted Answer

A)  General provisions 
B)  Commercial paper 
C)  Bank deposits and collections 
D)  Bulk transfers 
E)  Remedies 
A)  General provisions 
B)  Commercial paper 
C)  Bank deposits and collections 
D)  Bulk transfers 
E)  Remedies

Question 8

Which of the following is an example of a valid contract?

Accepted Answer

A)  Tom offered to clean Harry's garden for a sum, which Harry did not agree to. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. 
B)  Tom offered to clean Harry's garden for a sum. Harry was very drunk and agreed. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. After persistent requests by Tom, Harry agrees to pay $10, which Tom declines. 
C)  Tom offered to clean Harry's garden to which Harry agreed. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. 
D)  Tom and Harry bet on the ongoing FIFA match, on losing which Tom had to clean Harry's garden. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. 
E)  Harry calls up Tom asking him to clean his garden. He offers $20 for the job and tells him that Tom can have free lunch thereafter for the next two weeks at his place. Impatiently, Tom cuts him off and agrees to clean the garden on whatever terms Harry wants. 
A)  Tom offered to clean Harry's garden for a sum, which Harry did not agree to. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. 
B)  Tom offered to clean Harry's garden for a sum. Harry was very drunk and agreed. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. After persistent requests by Tom, Harry agrees to pay $10, which Tom declines. 
C)  Tom offered to clean Harry's garden to which Harry agreed. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. 
D)  Tom and Harry bet on the ongoing FIFA match, on losing which Tom had to clean Harry's garden. On a Sunday afternoon, Tom asks Harry to pay $20 for cleaning the garden, which Harry refuses. 
E)  Harry calls up Tom asking him to clean his garden. He offers $20 for the job and tells him that Tom can have free lunch thereafter for the next two weeks at his place. Impatiently, Tom cuts him off and agrees to clean the garden on whatever terms Harry wants.

Question 9

The only contracts and agreements covered by Article 2 are those relating to present or future sale of goods.

Accepted Answer

A) True 
 B)False

Question 10

The most important source of contract law is _____.

Accepted Answer

A)  federal statutes 
B)  the federal government 
C)  the Convention on Contracts 
D)  state statutes 
E)  civil laws 
A)  federal statutes 
B)  the federal government 
C)  the Convention on Contracts 
D)  state statutes 
E)  civil laws

Question 11

Which of the following is true about the Convention on Contracts for the International Sale of Goods CISG)?

Accepted Answer

A)  Under CISG, consideration is not required to form a contract. 
B)  It was approved in 1942 at a diplomatic conference in Vienna. 
C)  CISG includes the Statute of Frauds. 
D)  The CISG applies to contracts for the sale of electricity. 
E)  CISG is mandatory to parties to an international contract for the sale of goods. 
A)  Under CISG, consideration is not required to form a contract. 
B)  It was approved in 1942 at a diplomatic conference in Vienna. 
C)  CISG includes the Statute of Frauds. 
D)  The CISG applies to contracts for the sale of electricity. 
E)  CISG is mandatory to parties to an international contract for the sale of goods.

Question 12

In Roger's Backhoe Services, Inc. v. Nichols, which dimension of the contract was affected?

Accepted Answer

A)  Mutuality 
B)  Enforceability 
C)  Completion 
D)  Explicitness 
E)  Promise 
A)  Mutuality 
B)  Enforceability 
C)  Completion 
D)  Explicitness 
E)  Promise

Exam 8: Introduction to Contract Law

Under the Convention on Contracts for the International Sale of Goods, consideration is not required to form a contract.

Contract law did not develop according to a conscious plan.

Which of the following is true with regard to the Uniform Commercial Code UCC)?

The Restatement Second) of Contracts won prompt respect in the courts and has been cited in innumerable cases.

Not all rights are extinguished because a contract is unenforceable.

_____ is the degree to which a contract agreement is manifest to those not party to it.

Which of the following forms part of Article 2?

Which of the following is an example of a valid contract?

The only contracts and agreements covered by Article 2 are those relating to present or future sale of goods.

The most important source of contract law is _____.

Which of the following is true about the Convention on Contracts for the International Sale of Goods CISG)?

In Roger's Backhoe Services, Inc. v. Nichols, which dimension of the contract was affected?

Introduction to Law and Legal Systems

Corporate Social Responsibility and Business Ethics

Courts and the Legal Process

Constitutional Law and Us Commerce

Administrative Law

Criminal Law

Introduction to Tort Law

The Agreement

Real Assent

Consideration

Legality

Form and Meaning

Third-Party Rights

Discharge of Obligations

Remedies

Products Liability

Intellectual Property

Insurance

Relationships Between Principal and Agent

Liability of Principal and Agent; Termination of Agency

Partnerships: General Characteristics and Formation

Partnership Operation and Termination

Hybrid Business Forms

Corporation: General Characteristics and Formation

Legal Aspects of Corporate Finance

Corporate Powers and Management

Securities Regulation

Corporate Expansion, State and Federal Regulation of Foreign Corporations, and Corporate Dissolution

Employment Law

Labor-Management Relations

Consumer Credit Transactions

Secured Transactions and Suretyship

Mortgages and Nonconsensual Liens

Bankruptcy

Introduction to Property: Personal Property and Fixtures

Filters