Question: For several months, Yolanda has been picking up Martin’s suit at the cleaners on the first Monday of each month. Each month, Martin pays her $25 when she delivers the suit to his office. This month she picks up the suit and delivers it to Martin’s office. Martin refuses to pay Jennifer the $25, stating that they did not have a contract. What type of contract did Martin and Jennifer have?
Answer Options:
A. An implied contract
B. An express contract
C. A quasi contract
D. A bilateral contract
E. A unilateral contract
Answer: A
12
Question: Who is the person who agrees to the terms of an offer made by another party?
Answer Options:
A. Offeror
B. Offeree
C. Acquirer
D. Agreer
E. Inquirer
Answer: B
8
Question: In the U.S., which of the following are the two most important sources of contract law?
Answer Options:
A. Case law and the Restatement of Law, Contracts.
B. Case law and the Uniform Commercial Code.
C. The Uniform Commercial Code and the United Nations Convention on Contracts for the International Sale of Goods.
D. Case law and the United Nations Convention on Contracts for the International Sale of Goods.
E. The United Nations Convention on Contracts for the International Sale of Goods and the Restatement of the Law, Contracts.
Answer: B
10
Question: Which of the following would describe Veronica’s role in the transaction?
Answer Options:
A. She was the offeror.
B. She was the offeree.
C. She was the assentor.
D. She was the assentee.
E. She was the offeree and the assentee.
Answer: A
2. (Part 2 of 5)
Question: Gideon offers to sell Lawrence his lawn mower. Gideon is considered the —
Answer Options:
A. offeror
B. consideree
C. cons cerer
D. an Inquirer
Answer: A
9
Question: Which of the following describes PJ’s role in the transaction?
Answer Options:
A. He was the offeror.
B. He was the offeree.
C. He was the assentor.
D. He was the assentee.
E. He was the offeree and the assentee.
Answer: B
3. (Part 3 of 5)
Question: In a(n) _ _ contract, the offeror wants a performance to form the contract.
Answer Options:
A. trilateral
B. bilateral
C. unilateral
D. complete
E. continuing
Answer: C
14
Question: Under _ if a writing or term in question appears to be plain and unambiguous on its face, its meaning must be determined from the four corners of the instrument without resorting to outside evidence, with the words being given their ordinary meaning.
Answer Options:
A. the interpretation rule
B. the Uniform Commercial Code
C. the complete contract rule
D. the plain-meaning rule
E. the rule of reason
Answer: D
15
Question: Jorge delivers to Shelly the new car that he had promised to bring her. Shelly pays Jorge the agreed upon $20,000. This is an example of a(n) –
Answer Options:
A. executory contract
B. executed contract
C. voidable contract
D. contemplated contract
E. voluntary contract
Answer: B
11
Question: The $100 to be provided by PJ in exchange for the book to be provided by Veronica is considered to be — under contract law.
Answer Options:
A. consideration
B. material obligations
C. contractual capacity
D. provisions
E. equitable remedies
Answer: A
4. (Part 4 of 5)
Question: Which analysis of the effect of the discovery that PJ has a book that is not appropriate for the class would be correct?
Answer Options:
A. PJ is stuck with the book because he objectively agreed to purchase it.
B. PJ is stuck with the book because Veronica did not commit fraud.
C. PJ is stuck with the book because Veronica subjectively thought it was the correct book, and PJ did not openly disagree before the contract was executed.
D. Because the parties had a mutual misunderstanding, the parties did not come to a meeting of the minds, and there is no contract.
E. Because both parties were mistaken, at PJ’s option he may return the book, but only half of the purchase price would be required as a refund from Veronica because she is not guilty of fraud.
Answer: D
6
Question: Which of the following is true regarding Veronica’s claim that she subjectively believed the book was an appropriate edition and that an enforceable contract, therefore, existed?
Answer Options:
A. She is correct because contract law is based upon a subjective theory of contracts.
B. She is correct because her genuinely held belief establishes that she did not commit fraud.
C. She is correct because agreements for the sale of goods are based on a subjective theory.
D. She is incorrect because her subjective belief would not be the basis for a determination of whether the contract would be enforced in this case and also because fraud is not necessary in order to find a breach of contract.
E. She is correct, but only if PJ subjectively believed the same as she did.
Answer: D
5. (Part 5 of 5)
Question: A contract is _ for the breach of which the law gives a remedy or the performance of which the law in some way recognizes a duty.
Answer Options:
A. a promise or set of promises
B. an offer and acceptance
C. an offer only
D. obligations on only one party
E. legal objective
Answer: A
7
Question: Which of the following is true about void and voidable contracts?
Answer Options:
A. Either party can terminate the contract at any time as long as additional consideration is paid.
B. Both contracts are illegal and the consideration for the contract must be returned to the other party.
C. Both parties must agree to terminate a void or a voidable contract because otherwise there would be no privity of contract and a court would not uphold it anyway.
D. A void contract is not a contract at all; a voidable contract can be terminated by one party.
E. Both contracts must be in writing.
Answer: D