Law 3
Sal assures Tom that she will deliver a truckload of hay to his cattle ranch. A person’s declaration to do a certain act is part of the defini¬tion of
A. An expectation.
b. A moral obligation.
c. A prediction.
d. A promise.
Smith & Jones, Accountants, agrees to perform an audit for Brick & Mortar Stores, Inc. Whether or not this agreement meets all of the requirements of a contract, the parties are likely to follow the rules of contract law because they
A. Want to avoid potential disputes.
B. Are conscious of those rules.
C. Are not conscious of those rules.
D. Have a moral obligation to do so.
Lark promises to buy Mac’s used textbook for $60. Lark is
A. An offeror.
B. An offeree.
C. A promisee.
D. A promisor.
Gilbert promises to buy Hadley’s iPod for $75. Hadley is
A. An offeree.
B. An offeror.
C. A promisee.
D. A promisor.
Brady accepts what he believes is an offer to work for Canyon River Adventures, Inc., as a tour and fishing guide. In determining whether a contract has been formed, an element of prime importance is
A. The price to be paid.
B the duration of the work.
C. The intent of the parties.
D. The subject of the contract.
Cellphones & Calltime, Inc., makes an offer to Delores to enter into a contract to work as a salesperson for a certain base salary plus commission for ninety days subject to a one-year renewal based on her performance. Delores accepts the offer. A valid contract requires
A. A price and a subject.
B. A duration and termination provision.
C. An offer and an acceptance.
D. Specific quality standards.
Jonah tells Levi he will give him an Xbox if Levi does Jonah’s chores for a month. Levi promises to do the chores. Jonah and Levi have formed a
A. A bilateral contract.
b. A formal contract.
c. A unilateral contract.
d. No contract.
Wilson buys a lottery ticket at his local gas station. Wilson has accepted an offer for a
A. Bilateral contract.
b. Unilateral contract.
c. Void contract.
d. Unenforceable contract.
A letter-of-credit agreement between Rural Feed Corporation and Soybean Farms, Inc., requires Rural Feed’s bank to pay Soybean Farms on receipt of invoices. This letter of credit is
A. A formal contract.
B. No contract.
C. An implied contract.
D. A quasi contract.
Following negotiations, Office Park, Inc., enters into an informal contract with Quality Janitorial Company for custodial services for Office Park’s buildings. This means that the parties’ contract
A. Requires no special form.
B. Is freely open to either party’s interpretation.
C. Is subject to change by either party, within reason.
D. Is not yet completely formed.
When Hester’s car breaks down, she asks Insta-Tow, Inc., to tow it to Jerry’s Repair Shop. There is no discussion of a price, and Hester and Insta-Tow do not sign any documents. Later, Insta-Tow sends Hester a bill. With respect to Hester’s obligation to pay the bill, this is
A. An express contract.
b. An implied contract.
c. No contract.
d. A quasi contract.
Bilbo signs a lease agreement for an apartment with Cato, who owns and manages the Deer Creek Apartments complex. These parties have
A. An express contract.
B. An implied contract.
C. A quasi contract.
D. no contract.
Avatar, Inc., agrees to deliver t-shirts emblazoned with video game characters for a certain price to Bling Bling Corporation. To consti¬tute a contract, the terms of this deal
A. Must all be express.
B. Must all be implied.
C. May be express, implied, or a mixture of both.
D. May be express or implied, but not both.
Francie drives into Gage’s Auto Service and asks Hong, a Gage’s employee, to replace a tire on Francie’s car. After Hong replaces the tire, but before Francie pays for it, any contract between Francie and Gage’s is
A. executed.
b. executory.
c. void.
d. unenforceable.
Robin claims that her contract with Stroud for tennis lessons is voidable. If their contract is avoided
A. Both parties are released from it.
B. Both parties must fully perform their obligations under it.
C. Both parties will agree to a wholly different contract.
D. A wholly different contract is imposed “as if” the parties had agreed.
Sales Marketing Corporation and Tech Support, Inc., negotiate a contract. If the contract has all of the elements necessary for one of the parties to enforce it in court, it is
A. A valid contract.
B. A voidable contract.
c. A void contract.
D. An unenforceable contract.
Mallory promises to buy illegal digital copies of movies from Napoleon, who promises to deliver on October 31. These promises are most likely
A. enforceable.
B. valid.
C. void.
D. voidable.
Otto mistakenly pays property taxes that should have been assessed against Pip. Otto can recover the amount from Pip in quantum meruit
A. Even if Pip was not aware of the error.
b. Only if Pip tried to conceal the error.
c. Only if Pip was aware of the error.
d. Only if Pip consents.
Sunny enters into a contract with Trey to act as his personal sports trainer. If a dispute later arises and the contract contains un¬clear terms, the rules of contract interpretation will give effect to
A. The parties’ intent as expressed in their contract.
B. What the promisor claims was the parties’ intent.
C. What the promisee claims was the parties’ intent.
D. What the parties now agree they intended.
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