BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
Mostly Accurate Tested Relevant Coverage Areas:
1. Contract Formation & Definition: Elements of a valid contract, objective
theory, bilateral vs. unilateral contracts, formal vs. informal, express vs.
implied, and quasi-contracts . 1 4 5
,2. Agreement: Offer & Acceptance: Requirements of an offer, termination of
offers, the mailbox rule, counteroffers, and the effect of rejection vs.
revocation . 1 13
3. Consideration: Legally sufficient value, bargained-for exchange, adequacy,
past consideration, illusory promises, and promissory estoppel . 1 10
4. Contractual Capacity: Minors (disaffirmance, ratification, necessaries),
intoxication, and mental incompetence . 10
5. Legality & Public Policy: Contracts contrary to statute (usury, gambling,
licensing), contracts in restraint of trade, exculpatory clauses, and
unconscionability . 1 7
6. Defenses to Enforceability: Voluntary consent (mistake, fraud, duress,
undue influence), Statute of Frauds writing requirements, and the parol
evidence rule . 1 4
7. Third Party Rights: Assignments, delegations, intended vs. incidental
beneficiaries, and the rules governing these transfers . 1 7
, 8. Performance & Discharge: Conditions of performance, substantial
performance, material breach, anticipatory repudiation, and time for
performance . 1 4
9. Remedies for Breach: Compensatory damages, consequential damages,
liquidated damages, specific performance, rescission, and restitution . 1 7
10. International & E-Contracts: Choice of language/law/forum clauses, force
majeure, and the Uniform Electronic Transactions Act (UETA) . 3 7
BLAW 341 Exam 2- Maull
1. According to the objective theory of contracts, a party's intention to enter
into a legally binding agreement is determined by which of the following
standards?
☐ A. The party's hidden, subjective intent that is never communicated to
the other side
☑ B. Outward, objective facts as interpreted by a reasonable person in the
same situation
, ☐ C. The offeror's unilateral belief about whether a contract should be
formed
☐ D. The offeree's personal opinion regarding the fairness of the contract
terms
Rationale: The objective theory of contracts states that intent is judged by
outward, objective facts (what was said, how the party acted, and the
circumstances) rather than the party's secret, subjective intentions . 4 5
2. Which of the following scenarios best describes a unilateral contract that is
formed only upon the completion of a specific performance?
☐ A. A promise to pay $200 for a used iPhone in exchange for a promise to
deliver it next week
☑ B. An offer to pay $1,000 if a person drives a car from New York to Los
Angeles
☐ C. A written agreement to lease an apartment for a period of twelve
months
BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
BLAW 341 Exam 2- Maull
Mostly Accurate Tested Relevant Coverage Areas:
1. Contract Formation & Definition: Elements of a valid contract, objective
theory, bilateral vs. unilateral contracts, formal vs. informal, express vs.
implied, and quasi-contracts . 1 4 5
,2. Agreement: Offer & Acceptance: Requirements of an offer, termination of
offers, the mailbox rule, counteroffers, and the effect of rejection vs.
revocation . 1 13
3. Consideration: Legally sufficient value, bargained-for exchange, adequacy,
past consideration, illusory promises, and promissory estoppel . 1 10
4. Contractual Capacity: Minors (disaffirmance, ratification, necessaries),
intoxication, and mental incompetence . 10
5. Legality & Public Policy: Contracts contrary to statute (usury, gambling,
licensing), contracts in restraint of trade, exculpatory clauses, and
unconscionability . 1 7
6. Defenses to Enforceability: Voluntary consent (mistake, fraud, duress,
undue influence), Statute of Frauds writing requirements, and the parol
evidence rule . 1 4
7. Third Party Rights: Assignments, delegations, intended vs. incidental
beneficiaries, and the rules governing these transfers . 1 7
, 8. Performance & Discharge: Conditions of performance, substantial
performance, material breach, anticipatory repudiation, and time for
performance . 1 4
9. Remedies for Breach: Compensatory damages, consequential damages,
liquidated damages, specific performance, rescission, and restitution . 1 7
10. International & E-Contracts: Choice of language/law/forum clauses, force
majeure, and the Uniform Electronic Transactions Act (UETA) . 3 7
BLAW 341 Exam 2- Maull
1. According to the objective theory of contracts, a party's intention to enter
into a legally binding agreement is determined by which of the following
standards?
☐ A. The party's hidden, subjective intent that is never communicated to
the other side
☑ B. Outward, objective facts as interpreted by a reasonable person in the
same situation
, ☐ C. The offeror's unilateral belief about whether a contract should be
formed
☐ D. The offeree's personal opinion regarding the fairness of the contract
terms
Rationale: The objective theory of contracts states that intent is judged by
outward, objective facts (what was said, how the party acted, and the
circumstances) rather than the party's secret, subjective intentions . 4 5
2. Which of the following scenarios best describes a unilateral contract that is
formed only upon the completion of a specific performance?
☐ A. A promise to pay $200 for a used iPhone in exchange for a promise to
deliver it next week
☑ B. An offer to pay $1,000 if a person drives a car from New York to Los
Angeles
☐ C. A written agreement to lease an apartment for a period of twelve
months
