LEGL 2700 ROESSING TEST 3 ACTUAL
EXAMINATION 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
⫸ Uniform Commercial Code Answer: most important example of
state-based legislation impacting contract law
⫸ goods Answer: tangible, movable items of personal property
⫸ bilateral contract Answer: an agreement containing mutual promises
⫸ unilateral contract Answer: an agreement with only one promise, and
only one party is committed to perform; seeks an action rather than a
promise in return
⫸ express contract Answer: contract that arises from interactions in
which parties actually discuss the promised terms of their agreement
⫸ implied-in-fact contract Answer: contract that arises from the conduct
of the parties rather than from words
⫸ implied-in-law contract Answer: when the law implies a duty on a
party to the second even though there is no contract between them
"quasi-contract"
,⫸ enforceable contract Answer: the court upholds the validity of a
promise
⫸ unenforceable contract Answer: a defense exists that denies the legal
enforcement of an agreement
⫸ valid contract Answer: an agreement is enforceable because all the
essential requirements are present
⫸ void contract Answer: an agreement that lacks an essential
requirement for validity and enforceability
⫸ voidable contract Answer: an agreement when at least one party has
the right to withdraw from the promise made without incurring any legal
liability
⫸ executed contract Answer: a contract in which the parties have
performed their promises
⫸ executory contract Answer: when the parties have not yet performed
their agreement
⫸ offer Answer: contains a specific promise and a specific demand
,⫸ offeror Answer: person making the offer
⫸ offeree Answer: the person to whom the offer is made
⫸ revocation Answer: when the offeror retracts the offer before the
acceptance
⫸ rejection Answer: when the offeree rejects the offer
⫸ counteroffer Answer: when the offeree makes a counterproposal
⫸ lapse of time Answer: when the offeree fails to accept by a deadline
defined in the offer or after a reasonable period of time
⫸ termination Answer: the offeree's legal power to bind the offer ends
⫸ subject matter destruction Answer: when the object of the contract is
destroyed or legally eliminated
⫸ offeror death or insanity Answer: when the offeror no longer has the
capacity to make the offer
⫸ subject matter illegality Answer: when a change in the law renders
the agreement illegal, acceptance is no longer possible
, ⫸ acceptance Answer: necessary to create a valid, enforceable contract
⫸ mirror image rule Answer: the acceptance of a contract must mirror
the offer-- match it exactly
⫸ prior course of dealing Answer: the way two people have done
business in the past
⫸ mailbox rule Answer: the acceptance of an offer becomes binding
when it is "deposited" with the postal service
"deposited acceptance rule"
⫸ consideration Answer: the legal mechanism for evaluating the
existence of an incentive
⫸ accord and satisfaction Answer: an agreement and the payment to
resolve a dispute over the amount owed
⫸ illusory Answer: one party is not truly bound to a contract
⫸ firm offer Answer: when a merchant offering goods promises in
writing that the offer will not be revoked for a period not to exceed 3
months
EXAMINATION 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
⫸ Uniform Commercial Code Answer: most important example of
state-based legislation impacting contract law
⫸ goods Answer: tangible, movable items of personal property
⫸ bilateral contract Answer: an agreement containing mutual promises
⫸ unilateral contract Answer: an agreement with only one promise, and
only one party is committed to perform; seeks an action rather than a
promise in return
⫸ express contract Answer: contract that arises from interactions in
which parties actually discuss the promised terms of their agreement
⫸ implied-in-fact contract Answer: contract that arises from the conduct
of the parties rather than from words
⫸ implied-in-law contract Answer: when the law implies a duty on a
party to the second even though there is no contract between them
"quasi-contract"
,⫸ enforceable contract Answer: the court upholds the validity of a
promise
⫸ unenforceable contract Answer: a defense exists that denies the legal
enforcement of an agreement
⫸ valid contract Answer: an agreement is enforceable because all the
essential requirements are present
⫸ void contract Answer: an agreement that lacks an essential
requirement for validity and enforceability
⫸ voidable contract Answer: an agreement when at least one party has
the right to withdraw from the promise made without incurring any legal
liability
⫸ executed contract Answer: a contract in which the parties have
performed their promises
⫸ executory contract Answer: when the parties have not yet performed
their agreement
⫸ offer Answer: contains a specific promise and a specific demand
,⫸ offeror Answer: person making the offer
⫸ offeree Answer: the person to whom the offer is made
⫸ revocation Answer: when the offeror retracts the offer before the
acceptance
⫸ rejection Answer: when the offeree rejects the offer
⫸ counteroffer Answer: when the offeree makes a counterproposal
⫸ lapse of time Answer: when the offeree fails to accept by a deadline
defined in the offer or after a reasonable period of time
⫸ termination Answer: the offeree's legal power to bind the offer ends
⫸ subject matter destruction Answer: when the object of the contract is
destroyed or legally eliminated
⫸ offeror death or insanity Answer: when the offeror no longer has the
capacity to make the offer
⫸ subject matter illegality Answer: when a change in the law renders
the agreement illegal, acceptance is no longer possible
, ⫸ acceptance Answer: necessary to create a valid, enforceable contract
⫸ mirror image rule Answer: the acceptance of a contract must mirror
the offer-- match it exactly
⫸ prior course of dealing Answer: the way two people have done
business in the past
⫸ mailbox rule Answer: the acceptance of an offer becomes binding
when it is "deposited" with the postal service
"deposited acceptance rule"
⫸ consideration Answer: the legal mechanism for evaluating the
existence of an incentive
⫸ accord and satisfaction Answer: an agreement and the payment to
resolve a dispute over the amount owed
⫸ illusory Answer: one party is not truly bound to a contract
⫸ firm offer Answer: when a merchant offering goods promises in
writing that the offer will not be revoked for a period not to exceed 3
months
