AND ALL ACCURATE ANSWERS 2026
UPDATED.
Which of the following is true regarding the UCC?
a. The UCC has been adopted by all states except Louisiana, which has adopted only part of the
code.
b. The most obvious purpose of the UCC is to cover commercial transactions between buyers
and sellers that take place within a particular state.
c. The main purpose of the UCC is to enable private parties to enter in to non-commercial
transaction not subject to tariffs and other governmental restrictions.
d. Although it originated in the US, the UCC has been adopted by the vast majority of
industrialized and post-industrialized countries. - Answer a. The UCC has been adopted by all
states except Louisiana, which has adopted only part of the code.
Patricia runs an advertisement in the local newspaper offering a $500 reward for the return of
her lost Snowshoe cat, Dexter. Patricia has made a promise to pay the person who performs the
act of returning Dexter. This is a(n)___________ contract.
a. implied
b. unilateral
c. bilateral
d. quasi - Answer b. unilateral
All promises are contracts. (T or F) - Answer False
According to the UCC, the "reasonableness" standard:
a. is a practical standard used to gauge what people really do in the marketplace.
b. refers to the factual or status incapacity of one or more contracting parties.
c. requires that jurors use their subjective opinions to determine whether a contract for the sale
of goods exists, and whether justice dictates that it can be enforced.
d. is a theoretical concept based on the "reasonable person" standard of tort law. - Answer a.
is a practical standard used to gauge what people really do in the marketplace.
Article 2 of the UCC applies to all contracts for the:
a. provision of services
b. sale of goods
c. negotiation of commercial paper
,d. sale of real property - Answer b. sale of goods
Contracts for the sale of real estate must be in writing to be enforceable (T or F) - Answer
True
A contract is express when the parties directly state its terms at the time the contract is formed.
(T or F) - Answer True
Which of the following is true regarding Article 2 of the UCC?
a. it does not apply to contracts for the sale of goods
b. It applies to bonds, information, and other intangibles.
c. It applies to contracts for the sale of real estate or stocks.
d. It does not apply to contracts for the provision of services. - Answer d. It does not apply to
contracts for the provision of services.
Bill downloaded an antivirus software from the Internet. According to the UCC, the software is
__________.
a. a good
b. a service
c. tangible personal property
d. intangible real property - Answer b. a service
Contracts are called either unilateral or bilateral, depending on whether one or both parties
have fulfilled their contractual obligations. (T or F) - Answer False
When two parties have directly, but orally, stated all the terms of a contract at the time it was
formed, they have:
a. made an express contract
b. not made an enforceable contract
c. made an implied contract
d. executed a contract - Answer a. made an express contract.
Which of the following is true regarding current judicial interpretations of contract law?
a. Courts today have entirely shifted their emphasis from protecting consumers and workers to
protecting business and promoting industrialization.
b. Courts today tend to view with great suspicion attempts by manufacturers to limit their
responsibility for product defects.
,c. Modern courts are not willing to consider defenses based on inequality of bargaining power
between the parties.
d. Modern courts do not have the legal authority to control private-party contracts. - Answer
b. Courts today tend to view with great suspicion attempts by manufacturers to limit their
responsibility for product defects.
When compared to traditional contract law, the UCC:
a. is more likely to find that the parties have a contract.
b. gives more evidentiary weight to the technical requirements of a contract such as offer,
acceptance, and consideration.
c. is less concerned with recognizing the reasonable expectations of contracting parties.
d. applies an inflexible standard to the recognition of a contract's existence and its enforcement.
- Answer a. is more likely to find that the parties have a contract.
The doctrine of promissory estoppel:
a. makes a contract enforceable
b. protects reliance, not bargains
c. protects bargains, not reliance
d. does not make a promise enforceable - Answer b. protects reliance, not bargains
Which of the following is true regarding a quasi contract?
a. A person is held liable under quasi contract for benefits he or she reasonably believed were
given as a gift.
b. A person is not held liable under quasi contract for benefits he or she received unknowingly.
c. A quasi contract is a legal fiction created by the court to avoid enrichment of the dominant
party.
d. A quasi contract does not involve contract-like duties imposed by the court. - Answer b. A
person is not held liable under quasi contract for benefits he or she received unknowingly.
Article 2 of the UCC applies to all contracts for the sale of goods (T or F) - Answer True
A voidable contract is enforceable against both parties unless a party with the right to cancel
the contract has done so. (T or F) - Answer True
The UCC differs from the CISG in that the:
a. CISG applies to consumer transactions only, while the UCC governs both consumer and
commercial transactions.
, b. CISG governs both consumer and commercial transactions, while the UCC applies to
consumer transactions only.
c. UCC holds merchants to higher standards in certain circumstances, while the CISG does not
make a distinction between merchants and nonmerchants.
d. UCC does not require contracts to be in writing, while the CISG requires contracts for the sale
of goods valued at $250 or more to be in writing. - Answer c. UCC holds merchants to higher
standards in certain circumstances, while the CISG does not make a distinction between
merchants and nonmerchants.
A contract is executory if it has not been fully performed (T or F) - Answer True
Which of the following is intended to avoid unjust enrichment?
a. express contract
b. bilateral contract
c. void contract
d. quasi contract - Answer d. quasi contract
If the offer does not state a time for acceptance, it is valid for a "reasonable time," which
depends on the circumstances surrounding the offer. - Answer True
Brian offers to sell Jerry his house for a designated price, but a hurricane destroys the house
before Jerry accepts the offer. Which of the following is true regarding the offer and Jerry's legal
rights in this case?
a. The offer terminated when the hurricane destroyed the house, as it happened without the
fault of either party.
b. If the offer is not revoked within a week after the incident took place, the offer remains open
and Jerry can accept Brian's offer and sue to recover compensatory damages.
c. Jerry is legally entitled to purchase a comparable home from another seller and recover the
discrepancy in price (assuming the substitute house is more expensive than Brian's offer price)
from Brian.
d. To terminate the offer, Brian must file a written termination statement with the court of
appropriate jurisdiction. - Answer a. The offer terminated when the hurricane destroyed the
house, as it happened without the fault of either party.
An option is a separate contract for the limited purpose of holding an offer open. (T or F) -
Answer True
Advertisements for rewards for the return of lost property, for information, or for the capture of
criminals are generally held to be offers for unilateral contracts. (T or F) - Answer True