ACTUAL EXAM WITH COMPLETE QUESTIONS AND
CORRECT VERIFIED ANSWERS PLUS RATIONALES
ALREADY GRADED A+ {BRAND NEW}
1. A valid contract requires all of the following EXCEPT:
A. Offer
B. Acceptance
C. Consideration
D. Written memorial
Answer: D
Rationale: A contract does not generally need to be in writing unless required by the
Statute of Frauds.
2. Under the Alaska UCC, a contract for the sale of goods over $500 must be:
A. Oral
B. Signed by both parties
C. In writing and signed by the party to be charged
D. Not enforceable
Answer: C
Rationale: UCC §2-201 requires a writing signed by the party against whom enforcement is
sought.
3. Which doctrine allows enforcement of a promise despite lack of consideration?
A. Mutual assent
B. Promissory estoppel
C. Parol evidence
D. Novation
Answer: B
Rationale: Promissory estoppel enforces promises where reliance is reasonable and
foreseeable.
,4. A minor’s contract is:
A. Void
B. Voidable by the minor
C. Voidable by the adult
D. Fully enforceable
Answer: B
Rationale: Contracts with minors are voidable at the minor’s option.
5. Under Alaska law, covenants not to compete are:
A. Always void
B. Strictly enforced
C. Enforceable if reasonable
D. Enforceable only in writing
Answer: C
Rationale: Alaska enforces non-competes only if reasonable in scope, duration, and
geography.
6. Anticipatory repudiation occurs when:
A. Performance is late
B. Performance is imperfect
C. A party unequivocally refuses to perform
D. The contract expires
Answer: C
Rationale: Clear refusal before performance is due constitutes anticipatory repudiation.
7. Under the parol evidence rule, extrinsic evidence is admissible to:
A. Contradict a final written agreement
B. Modify integrated terms
C. Explain ambiguity
D. Replace consideration
Answer: C
Rationale: Parol evidence may clarify ambiguous terms.
8. A unilateral contract is formed when:
A. A promise is made
B. Performance begins
C. Performance is completed
D. Consideration is negotiated
Answer: C
Rationale: Acceptance occurs only upon full performance.
, 9. Liquidated damages are enforceable if they are:
A. Punitive
B. Nominal
C. Reasonable
D. Arbitrary
Answer: C
Rationale: Liquidated damages must be a reasonable estimate of actual harm.
10. Which remedy seeks to place the plaintiff in the position as if the contract had been
performed?
A. Restitution
B. Reliance
C. Expectation
D. Specific performance
Answer: C
Rationale: Expectation damages protect the benefit of the bargain.
11. A material breach allows the non-breaching party to:
A. Ignore the contract
B. Continue performance only
C. Suspend performance
D. Modify the contract unilaterally
Answer: C
Rationale: A material breach excuses further performance.
12. Alaska courts generally favor which method of contract interpretation?
A. Strict textualism
B. Plain meaning only
C. Contextual approach
D. Jury discretion
Answer: C
Rationale: Alaska uses a contextual approach considering surrounding circumstances.
13. Negligence requires all EXCEPT:
A. Duty
B. Breach
C. Causation
D. Intent