BUL 4421 Final - FAU Gendler Verified Exam Questions and Answers
Latest update 2026/2027
Question:
CHAPTER 13: Introduction to Contracts
Answer:
CHAPTER 13:
Introduction to Contracts
Question:
Four Elements of a Contract: CLAC
Answer:
1. Contractual Capacity
Question:
2. Legal Object
3. Agreement (offer, acceptance)
4. Consideration
Contract
Answer:
A promise or set of legally enforceable promises for the breach of which the law gives a remedy or the
performance of which the law in some way recognizes a duty.
Question:
Agreement
Answer:
(Offer & Acceptance) Offer by Oferror to enter into a contract and acceptance of terms by offeree.
Question:
Consideration
Answer:
i. The bargained-for exchange or what each party gets in exchange for his or her promise under the
contract (The something for something)
Question:
Contractual capacity
Answer:
i. The legal ability to enter into a binding agreement
,Question:
Legal Object
Answer:
subject matter of the contract. Cannot be illegal or against public policy in order to be enforceable
Question:
Objective Theory of Contracts is the
Answer:
basis of contract law
Question:
Objective Theory of Contracts bases existence on
Answer:
Outward manifestations of intent
Question:
Objective Theory of Contracts bases interpretation on
Answer:
how a reasonable person would interpret it.
Question:
________ of parties is not usually relevant under objective theory of contracts
Answer:
subjective intent
Question:
t or f: subjective intent may be relevant under certain circumstances
Answer:
true
Question:
subjective intent may be relevant if
Answer:
a mutual misunderstanding b/t parties exists and they did not come to a true meetings of minds; no
contract exists
,Question:
if there appears a a mutual misunderstanding
Answer:
look at each party separately, interpret situation to determine whether parties really reached an
agreement
Question:
in order to determine whether partied intended to enter into a contract, courts look at
Answer:
their objective words and behavior and do not try to figure out what they may have secretly intending
Question:
classification of contract determines
Answer:
when offeree is legally bound to perform
Question:
Bilateral Contract =
Answer:
A promise + a promise.
-I'll pay you $1000 for you to paint my car.
-(My promise = $1000)
-(Your promise = Paint my car)
-Mutual exchange
Question:
Under bilateral contract, contract formed
Answer:
as soon as promise exchanged
Question:
Unilateral Contract
Answer:
a promise + a requested action
-Offerror wants something *done, not a promise* for something to be done.
-ex; find dog and ill pay reward
, Question:
under unilateral contract, contract formed
Answer:
once offerree begins performance; offeror must give reasonable amt of time to finish before voiding
contract
Question:
Express Contract
Answer:
The terms of the contract are all clearly set forth in either written or spoken words. ex; written
agreement by dentist to perform work
Question:
Implied Contract
Answer:
Terms arise from conduct of the parties. ex; dentist pulling tooth implies you will pay
Question:
3 conditions required for implied contracts (and recovery)
Answer:
1benefits conferred by plaintiff upon defendant 2- defendant has knowledge of benefit being bestowed
on them, and 3- defendant retains benefit under circs which it would be unjust to do so without
payment
Question:
Void Contract
Answer:
Not a contract at all; unenforceable
-Either illegal or has some serious defect.
Question:
Voidable Contract
Answer:
One or both of the parties has the ability to either withdraw from the contract or enforce it.
Question:
if choosing to terminate a voidable contract, both parties must
Answer:
return anything already exchanged under the agreement; restore to conditions before contract
Latest update 2026/2027
Question:
CHAPTER 13: Introduction to Contracts
Answer:
CHAPTER 13:
Introduction to Contracts
Question:
Four Elements of a Contract: CLAC
Answer:
1. Contractual Capacity
Question:
2. Legal Object
3. Agreement (offer, acceptance)
4. Consideration
Contract
Answer:
A promise or set of legally enforceable promises for the breach of which the law gives a remedy or the
performance of which the law in some way recognizes a duty.
Question:
Agreement
Answer:
(Offer & Acceptance) Offer by Oferror to enter into a contract and acceptance of terms by offeree.
Question:
Consideration
Answer:
i. The bargained-for exchange or what each party gets in exchange for his or her promise under the
contract (The something for something)
Question:
Contractual capacity
Answer:
i. The legal ability to enter into a binding agreement
,Question:
Legal Object
Answer:
subject matter of the contract. Cannot be illegal or against public policy in order to be enforceable
Question:
Objective Theory of Contracts is the
Answer:
basis of contract law
Question:
Objective Theory of Contracts bases existence on
Answer:
Outward manifestations of intent
Question:
Objective Theory of Contracts bases interpretation on
Answer:
how a reasonable person would interpret it.
Question:
________ of parties is not usually relevant under objective theory of contracts
Answer:
subjective intent
Question:
t or f: subjective intent may be relevant under certain circumstances
Answer:
true
Question:
subjective intent may be relevant if
Answer:
a mutual misunderstanding b/t parties exists and they did not come to a true meetings of minds; no
contract exists
,Question:
if there appears a a mutual misunderstanding
Answer:
look at each party separately, interpret situation to determine whether parties really reached an
agreement
Question:
in order to determine whether partied intended to enter into a contract, courts look at
Answer:
their objective words and behavior and do not try to figure out what they may have secretly intending
Question:
classification of contract determines
Answer:
when offeree is legally bound to perform
Question:
Bilateral Contract =
Answer:
A promise + a promise.
-I'll pay you $1000 for you to paint my car.
-(My promise = $1000)
-(Your promise = Paint my car)
-Mutual exchange
Question:
Under bilateral contract, contract formed
Answer:
as soon as promise exchanged
Question:
Unilateral Contract
Answer:
a promise + a requested action
-Offerror wants something *done, not a promise* for something to be done.
-ex; find dog and ill pay reward
, Question:
under unilateral contract, contract formed
Answer:
once offerree begins performance; offeror must give reasonable amt of time to finish before voiding
contract
Question:
Express Contract
Answer:
The terms of the contract are all clearly set forth in either written or spoken words. ex; written
agreement by dentist to perform work
Question:
Implied Contract
Answer:
Terms arise from conduct of the parties. ex; dentist pulling tooth implies you will pay
Question:
3 conditions required for implied contracts (and recovery)
Answer:
1benefits conferred by plaintiff upon defendant 2- defendant has knowledge of benefit being bestowed
on them, and 3- defendant retains benefit under circs which it would be unjust to do so without
payment
Question:
Void Contract
Answer:
Not a contract at all; unenforceable
-Either illegal or has some serious defect.
Question:
Voidable Contract
Answer:
One or both of the parties has the ability to either withdraw from the contract or enforce it.
Question:
if choosing to terminate a voidable contract, both parties must
Answer:
return anything already exchanged under the agreement; restore to conditions before contract
