BUL 5810: Chapter 9, 10, 11, 12, 13, 14,
15, 17, 18 Cengage Questions - Exam
3 Prep Questions with Accurate
Answers.
Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?
a. The sale of a building.
b. The sale of new furniture.
c. An agreement to have the sidewalk shoveled.
d. A sale of stock in ABC, Inc. - Answer b. The sale of new furniture.
Any property other than an interest in real property, is/are:
a. tangible property.
b. intangible property.
c. goods.
d. personal property. - Answer d. personal property.
Which of the following is NOT always necessary in order for a valid contract to be formed?
a. Mutual assent
b. Legality of purpose
c. A writing
d. Consideration - Answer c. A writing
In order to have a valid contract, in addition to the four basic requirements of a contract, which
of the following must also occur?
a. The consideration that one party is giving the other must be of the same value as the
consideration that is being received.
b. There must be the sale of goods from one party to another.
c. There must be an absence of invalidating conduct, such as duress.
d. Both parties must already have performed (done what they promised to do). - Answer c.
There must be an absence of invalidating conduct, such as duress.
,What is a requirement of an express contract?
a. It is written and signed.
b. It is based on the conduct of the parties.
c. The terms are stated in words.
d. It consists of a promise in exchange for an act. - Answer c. The terms are stated in words.
If both parties exchange promises, the contract is:
a. bilateral.
b. void.
c. implied.
d. executed. - Answer a. bilateral.
When might a contract might be unenforceable?
a. If the purpose of the contract was to commit a tort.
b. If one party has not yet performed, but the other party has fully performed.
c. If the statute of limitations has passed.
d. If the parties could not reach an agreement. - Answer c. If the statute of limitations has
passed.
The doctrine of promissory estoppel:
a. is a doctrine enforcing contractual promises.
b. applies even if the promisor should not have expected the promisee to rely on the promise.
c. applies even if the promisee does not rely on the promise.
d. is a doctrine that relies on justice and not contractual rights. - Answer d. is a doctrine that
relies on justice and not contractual rights.
Another name for a quasi contract is:
a. promissory estoppels.
b. an implied in fact contract.
,c. an implied in law contract.
d. an unenforceable contract - Answer c. an implied in law contract.
Which of the following is required in order to recover in quasi contract?
a. An implied or express promise
b. A valid contract
c. Acceptance or retention of a benefit conferred on the defendant by the plaintiff
d. A voidable contract - Answer c. Acceptance or retention of a benefit conferred on the
defendant by the plaintiff
Contracts that are implied in law:
a. are obligations imposed by law on grounds of justice and equity.
b. are really contracts.
c. are also called implied in fact contracts
d. require the assent of the contracting parties. - Answer a. are obligations imposed by law
on grounds of justice and equity.
Molly signs a contract with a publishing company to edit text manuscripts. This contract is
governed by
a. the law of quasi contract.
b. federal statute.
c. state common law.
d. Article 2 of the UCC. - Answer c. state common law.
Sally offers to sell her Business Law textbook from last semester to Bob for $50.00. Bob accepts
Sally's offer and tells her he will pay her on Friday when he gets his paycheck. A contract is
formed:
a. when Bob accepts Sally's offer
b. when Sally offers to sell her book to Bob.
c. when Bob gets his paycheck.
d. when Bob pays Sally. - Answer a. when Bob accepts Sally's offer
, Aaron's boss offers to pay him $500 if he will pretend he is sick so that he does not have to
show up for jury duty, but will go to work instead. Aaron knows that this is against the law, but
he would rather be paid $500 from his boss than the $30 that the court will pay him for jury
duty. Aaron calls in sick and is excused from jury duty. This agreement between Aaron and his
boss is:
a. a bilateral contract.
b. not a contract.
c. a quasi contract
d. a unilateral contract. - Answer b. not a contract.
Sid makes a material representation of fact regarding his car to Barbara while out driving one
day. The next day, Barbara calls Sid and offers to buy his car. Sid accepts Barbara's offer without
correcting the misrepresentation of fact that he made the previous day. What is the effect of the
material representation on the agreement between Sid and Barbara?
a. Either Barbara or Sid may avoid the contract.
b. Barbara may avoid the contract.
c. Sid may avoid the contract.
d. There is no effect because it was made the day before the offer was made. - Answer b.
Barbara may avoid the contract.
Bill enters into a contract with Harry. The terms are that Bill will build an addition to Harry's
home, replace the roof on Harry's garage, and make repave Harry's driveway in exchange for
Bill's payment to Harry of several thousand dollars once all of the projects have been
completed. If the driveway repavement has not yet been completed, but the addition and the
roof have been completed, which term describes the type of contract in existence?
a. Voidable
b. Quasi-contract
c. Implied-in-fact
d. Executory - Answer d. Executory
Vince has lost his job and is having difficulty making ends meet. Last week, the bank
repossessed Vince's car. He is telling his neighbor Paul about his bad luck and Paul says he
wishes he could help Vince. Paul suggests that maybe Vince could have the old car sitting in
Paul's garage if Vince could get it to run. He ends the conversation by saying "Let me think about
it." The next day while Paul is at work, Vince goes into Paul's garage and begins working on the
old car. He gets it running and drives it out of Paul's garage and into Vince's driveway. When
Paul gets home from work, Vince shows Paul the car and asks him for the title to the car. Paul
15, 17, 18 Cengage Questions - Exam
3 Prep Questions with Accurate
Answers.
Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?
a. The sale of a building.
b. The sale of new furniture.
c. An agreement to have the sidewalk shoveled.
d. A sale of stock in ABC, Inc. - Answer b. The sale of new furniture.
Any property other than an interest in real property, is/are:
a. tangible property.
b. intangible property.
c. goods.
d. personal property. - Answer d. personal property.
Which of the following is NOT always necessary in order for a valid contract to be formed?
a. Mutual assent
b. Legality of purpose
c. A writing
d. Consideration - Answer c. A writing
In order to have a valid contract, in addition to the four basic requirements of a contract, which
of the following must also occur?
a. The consideration that one party is giving the other must be of the same value as the
consideration that is being received.
b. There must be the sale of goods from one party to another.
c. There must be an absence of invalidating conduct, such as duress.
d. Both parties must already have performed (done what they promised to do). - Answer c.
There must be an absence of invalidating conduct, such as duress.
,What is a requirement of an express contract?
a. It is written and signed.
b. It is based on the conduct of the parties.
c. The terms are stated in words.
d. It consists of a promise in exchange for an act. - Answer c. The terms are stated in words.
If both parties exchange promises, the contract is:
a. bilateral.
b. void.
c. implied.
d. executed. - Answer a. bilateral.
When might a contract might be unenforceable?
a. If the purpose of the contract was to commit a tort.
b. If one party has not yet performed, but the other party has fully performed.
c. If the statute of limitations has passed.
d. If the parties could not reach an agreement. - Answer c. If the statute of limitations has
passed.
The doctrine of promissory estoppel:
a. is a doctrine enforcing contractual promises.
b. applies even if the promisor should not have expected the promisee to rely on the promise.
c. applies even if the promisee does not rely on the promise.
d. is a doctrine that relies on justice and not contractual rights. - Answer d. is a doctrine that
relies on justice and not contractual rights.
Another name for a quasi contract is:
a. promissory estoppels.
b. an implied in fact contract.
,c. an implied in law contract.
d. an unenforceable contract - Answer c. an implied in law contract.
Which of the following is required in order to recover in quasi contract?
a. An implied or express promise
b. A valid contract
c. Acceptance or retention of a benefit conferred on the defendant by the plaintiff
d. A voidable contract - Answer c. Acceptance or retention of a benefit conferred on the
defendant by the plaintiff
Contracts that are implied in law:
a. are obligations imposed by law on grounds of justice and equity.
b. are really contracts.
c. are also called implied in fact contracts
d. require the assent of the contracting parties. - Answer a. are obligations imposed by law
on grounds of justice and equity.
Molly signs a contract with a publishing company to edit text manuscripts. This contract is
governed by
a. the law of quasi contract.
b. federal statute.
c. state common law.
d. Article 2 of the UCC. - Answer c. state common law.
Sally offers to sell her Business Law textbook from last semester to Bob for $50.00. Bob accepts
Sally's offer and tells her he will pay her on Friday when he gets his paycheck. A contract is
formed:
a. when Bob accepts Sally's offer
b. when Sally offers to sell her book to Bob.
c. when Bob gets his paycheck.
d. when Bob pays Sally. - Answer a. when Bob accepts Sally's offer
, Aaron's boss offers to pay him $500 if he will pretend he is sick so that he does not have to
show up for jury duty, but will go to work instead. Aaron knows that this is against the law, but
he would rather be paid $500 from his boss than the $30 that the court will pay him for jury
duty. Aaron calls in sick and is excused from jury duty. This agreement between Aaron and his
boss is:
a. a bilateral contract.
b. not a contract.
c. a quasi contract
d. a unilateral contract. - Answer b. not a contract.
Sid makes a material representation of fact regarding his car to Barbara while out driving one
day. The next day, Barbara calls Sid and offers to buy his car. Sid accepts Barbara's offer without
correcting the misrepresentation of fact that he made the previous day. What is the effect of the
material representation on the agreement between Sid and Barbara?
a. Either Barbara or Sid may avoid the contract.
b. Barbara may avoid the contract.
c. Sid may avoid the contract.
d. There is no effect because it was made the day before the offer was made. - Answer b.
Barbara may avoid the contract.
Bill enters into a contract with Harry. The terms are that Bill will build an addition to Harry's
home, replace the roof on Harry's garage, and make repave Harry's driveway in exchange for
Bill's payment to Harry of several thousand dollars once all of the projects have been
completed. If the driveway repavement has not yet been completed, but the addition and the
roof have been completed, which term describes the type of contract in existence?
a. Voidable
b. Quasi-contract
c. Implied-in-fact
d. Executory - Answer d. Executory
Vince has lost his job and is having difficulty making ends meet. Last week, the bank
repossessed Vince's car. He is telling his neighbor Paul about his bad luck and Paul says he
wishes he could help Vince. Paul suggests that maybe Vince could have the old car sitting in
Paul's garage if Vince could get it to run. He ends the conversation by saying "Let me think about
it." The next day while Paul is at work, Vince goes into Paul's garage and begins working on the
old car. He gets it running and drives it out of Paul's garage and into Vince's driveway. When
Paul gets home from work, Vince shows Paul the car and asks him for the title to the car. Paul
