BUL 5810 Exam 3 Questions and
Answers 100% Pass
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. - ✔✔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. - ✔✔d. personal property.
Which of the following is NOT always necessary in order for a valid contract to be
formed?
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,a. Mutual assent
b. Legality of purpose
c. A writing
d. Consideration - ✔✔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). - ✔✔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. - ✔✔c. The terms are stated in words.
If both parties exchange promises, the contract is:
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,a. bilateral.
b. void.
c. implied.
d. executed - ✔✔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. - ✔✔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. - ✔✔d. is a doctrine that
relies on justice and not contractual rights.
Another name for a quasi contract is:
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, a. promissory estoppels.
b. an implied in fact contract.
c. an implied in law contract.
d. an unenforceable contract. - ✔✔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 - ✔✔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. - ✔✔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
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Answers 100% Pass
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. - ✔✔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. - ✔✔d. personal property.
Which of the following is NOT always necessary in order for a valid contract to be
formed?
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,a. Mutual assent
b. Legality of purpose
c. A writing
d. Consideration - ✔✔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). - ✔✔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. - ✔✔c. The terms are stated in words.
If both parties exchange promises, the contract is:
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,a. bilateral.
b. void.
c. implied.
d. executed - ✔✔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. - ✔✔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. - ✔✔d. is a doctrine that
relies on justice and not contractual rights.
Another name for a quasi contract is:
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, a. promissory estoppels.
b. an implied in fact contract.
c. an implied in law contract.
d. an unenforceable contract. - ✔✔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 - ✔✔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. - ✔✔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
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