Bob Brooks Questions and Correct Answers
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A contract which is created by the parties stating their intentions in words is a(an):
a. Executory Contract
b. Implied Contract
c. Expressed Contract
d. Executed Contract
C. expressed contract
A contract in which the consideration is a promise given in exchange for a promise is:
a. Unilateral
b. Bilateral
c. Void
d. Unenforceable
B.Bilateral
When the parties to a contract are thinking of the same thing and there has been an offer and
acceptance:
a. The contract must be in writing to be valid.
b. A meeting of the minds has taken place.
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c. The contract has been executed.
d. Each party is obligated to perform.
B. a meeting of the minds has taken place
A contract in which neither party could sue would be:
a. Void
b. Voidable
c. Unenforceable
d. Implied
C. Unenforceable
An expressed contract can be:
a. Oral
b. Written
c. Bilateral
d. An expressed contracts can be all of those mentioned above.
D. An expressed contacts can be all of those mentioned above
A contract involving an exchange of promises between the parties is a(an):
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a. Unilateral contract
b. Binary contract
c. Bilateral contract
d. Novatory agreement
B. Bilateral Contract
A listng agreement would be a(an):
a. Counteroffer
b. Bilateral contract
c. Unilateral contract
d. Implied contract
C. Unilateral contract
A contract which has no legal force or effect is:
a. Unenforceable
b. Voidable
c. Valid
d. Void
D. Void
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An oral contract for the sale of real estate would NOT be enforceable because:
a. It would be too hard to decide who is telling the truth
b. It would be impossible to prove
c. Federal law does not allow it
d. It does not conform to the Statute of Frauds
D. It does not conform to the Statue of Frauds
A valid contract which CANNOT be enforced by legal action is:
a. Voidable
b. Unenforceable
c. A novation
d. Under duress
B. unenforceable
Which of the following statements is CORRECT?
a. The object of a contract must be legal.
b. All contracts must be in writing.
c. Contracts signed by minors are never enforceable.
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