GBL 323 quizzes Practice Tests and All
Correct Answers.
An offer to fulfill the terms of a contract by completing an act required by the contract or by -
Answer tender of performance
Chandler orally promised his daughter a silver bracelet as a gift. Chandler _______ legally bound
- Answer is not; because a promise to make a gift is unenforceable.
Yockel agreed to work for Schnabel for eighteen months. This agreement would be enforceable
if - Answer in a face-to-face conversation
through an exchange of emails
All of the following are legal reasons for exercising the right to rescind a contract except -
Answer unilateral mistake.
A person who enters into a written contract while intoxicated - Answer still is bound by the
written contract.
Amy Farrah Fowler, an antiques dealer, wrote a letter to Gary on May 9 offering to sell Gary the
grandfather clock that Gary had seen at Fowler's antiques show. The letter stated that the
acceptance had to be received by May 15. Gary mailed a letter of acceptance on May 15 that
reached Fowler on May 16. A valid contract was made - Answer at no time
If no fixed time is stated for an offer to remain open, the offer - Answer ends after a
reasonable time.
An example of an agreement that ordinarily would be classified as illegal is one that - Answer
involves usury.
A bilateral contract involves a(n) - Answer promise for a promise.
Paul borrowed $100 from Billy and promised in writing to pay the debt on March 1st. On the
due date, Paul could not pay the full amount but offered Billy $50 in cash and a watch worth
$25. Billy accepted. Was the debt discharged? - Answer Yes. A debt is canceled if the creditor
accepts as full payment a part payment in money plus
Revocation of an offer takes place when - Answer the offeree has been properly notified.
,Howard had a written contract with Sheldon to purchase some cattle. Unknown to either party,
the cattle had died. The contract was discharged by - Answer impossibility
The usual manner of discharging a contract is by - Answer full performance
An agreement that is grossly unfair or harsh may be declared void by a court as being - Answer
unconscionable
objectivity impossibility includes - Answer strikes
riots
a change in law
Which of the following agreements ordinarily would be considered illegal? - Answer a
contract to pay a government official kickbacks for doing you favors
fraud in contracts means - Answer concealment or misrepresentation of a material fact
BillyBob, a gardner, had gotten a 60- x 30-inch executive desk by one of his former customers.
BillyBob put a notice in Craigslist that he would sell the desk. Marlow went to BillyBob's to look
at the desk. Marlow recognized that this was a very expensive and valuable desk. Marlow told
BillyBob that he wanted to buy the desk and would pay $2299. In order to be a valid and
enforceable contract, the parties - Answer must agree to the terms
Penny sold an old ring to Weeks for $1 at a garage sale. Later Penny learned that the ring was
worth $50 If Penny sues, she legally is entitled to recover - Answer nothing
Agreements of people who suffer from periods of temporary insanity but who have not been
declared legally insane by a court can be disaffirmed by - Answer the temporarily insane
person in a period of normalcy
If two parties fully perform an oral contract that should have been in writing, - Answer the
statute of frauds no longer applies.
Another name for a contract implied in law is a(n) - Answer quasi contract
Sheldon agreed to build a storage shed at the back of Howard's property. Before work began,
the city passed an ordinance forbidding the construction of this kind of building in the
neighborhood. As a result of this ordinance, - Answer the contract was discharged
, Charging interest in excess of the legal rate is considered - Answer usury
A contract that can be enforced unless a party legally entitled to avoid the contract does so is
called a - Answer voidable contract
Allen repaired Hansen's house while Hansen was sick. When she found out about the repairs,
Hansen promised to pay Allen $500. Hansen's promise is not enforceable in a court of law
because it was - Answer for past consideration
BillyBob, a gardner, had gotten a 60- x 30-inch executive desk by one of his former customers.
BillyBob put a notice in Craigslist that he would sell the desk. Marlow went to BillyBob's to look
at the desk. Marlow recognized that this was a very expensive and valuable desk. Marlow told
BillyBob that he wanted to buy the desk and would pay $2299. Marlow's action was a(n) -
Answer offer
After Buck found Chandler's wallet, Chandler orally promised to pay Buck $100. Chandler _____
legally bound to pay because the consideration for her promise was______. - Answer is not;
past
When a clause in a non-compete contract is too restrictive, most courts generally - Answer
throw it out but enforce the remainder of the agreement.
Bart agreed to sell Lisa his motorcycle for $1500. Lisa paid Bart $1500, and Bart promised
delivery the next day. This is an example of a(n) - Answer executory contact
Walter White purchased a used car from Mr. Freing on the basis of Mr. Freing's statement that
the car was "a real bargain and a tremendous buy." Shortly afterward, Walter White found that
the car did not give the performance that she had expected. Can Walter White legally return the
car on the grounds of Mr. Freing's statement? - Answer No; when the seller makes
statements of opinion concerning the article for sale, the validity of the contract is not affected.
Mack was struck by a car driven by Gaines, who orally promised Mack $1,500 if she would not
bring suit for injuries. Mack agreed. Mack - Answer has a right to $1,500 because she
refrained from doing what she had a legal right to do.
Chandler offered to sell his used car to Bing for $2,000. Bing declined. The offer has been
terminated by - Answer rejection
Leonard accepted Howard's oral offer to sell a small parcel of real property. This agreement is -
Answer legal but unenforceable by either party
Correct Answers.
An offer to fulfill the terms of a contract by completing an act required by the contract or by -
Answer tender of performance
Chandler orally promised his daughter a silver bracelet as a gift. Chandler _______ legally bound
- Answer is not; because a promise to make a gift is unenforceable.
Yockel agreed to work for Schnabel for eighteen months. This agreement would be enforceable
if - Answer in a face-to-face conversation
through an exchange of emails
All of the following are legal reasons for exercising the right to rescind a contract except -
Answer unilateral mistake.
A person who enters into a written contract while intoxicated - Answer still is bound by the
written contract.
Amy Farrah Fowler, an antiques dealer, wrote a letter to Gary on May 9 offering to sell Gary the
grandfather clock that Gary had seen at Fowler's antiques show. The letter stated that the
acceptance had to be received by May 15. Gary mailed a letter of acceptance on May 15 that
reached Fowler on May 16. A valid contract was made - Answer at no time
If no fixed time is stated for an offer to remain open, the offer - Answer ends after a
reasonable time.
An example of an agreement that ordinarily would be classified as illegal is one that - Answer
involves usury.
A bilateral contract involves a(n) - Answer promise for a promise.
Paul borrowed $100 from Billy and promised in writing to pay the debt on March 1st. On the
due date, Paul could not pay the full amount but offered Billy $50 in cash and a watch worth
$25. Billy accepted. Was the debt discharged? - Answer Yes. A debt is canceled if the creditor
accepts as full payment a part payment in money plus
Revocation of an offer takes place when - Answer the offeree has been properly notified.
,Howard had a written contract with Sheldon to purchase some cattle. Unknown to either party,
the cattle had died. The contract was discharged by - Answer impossibility
The usual manner of discharging a contract is by - Answer full performance
An agreement that is grossly unfair or harsh may be declared void by a court as being - Answer
unconscionable
objectivity impossibility includes - Answer strikes
riots
a change in law
Which of the following agreements ordinarily would be considered illegal? - Answer a
contract to pay a government official kickbacks for doing you favors
fraud in contracts means - Answer concealment or misrepresentation of a material fact
BillyBob, a gardner, had gotten a 60- x 30-inch executive desk by one of his former customers.
BillyBob put a notice in Craigslist that he would sell the desk. Marlow went to BillyBob's to look
at the desk. Marlow recognized that this was a very expensive and valuable desk. Marlow told
BillyBob that he wanted to buy the desk and would pay $2299. In order to be a valid and
enforceable contract, the parties - Answer must agree to the terms
Penny sold an old ring to Weeks for $1 at a garage sale. Later Penny learned that the ring was
worth $50 If Penny sues, she legally is entitled to recover - Answer nothing
Agreements of people who suffer from periods of temporary insanity but who have not been
declared legally insane by a court can be disaffirmed by - Answer the temporarily insane
person in a period of normalcy
If two parties fully perform an oral contract that should have been in writing, - Answer the
statute of frauds no longer applies.
Another name for a contract implied in law is a(n) - Answer quasi contract
Sheldon agreed to build a storage shed at the back of Howard's property. Before work began,
the city passed an ordinance forbidding the construction of this kind of building in the
neighborhood. As a result of this ordinance, - Answer the contract was discharged
, Charging interest in excess of the legal rate is considered - Answer usury
A contract that can be enforced unless a party legally entitled to avoid the contract does so is
called a - Answer voidable contract
Allen repaired Hansen's house while Hansen was sick. When she found out about the repairs,
Hansen promised to pay Allen $500. Hansen's promise is not enforceable in a court of law
because it was - Answer for past consideration
BillyBob, a gardner, had gotten a 60- x 30-inch executive desk by one of his former customers.
BillyBob put a notice in Craigslist that he would sell the desk. Marlow went to BillyBob's to look
at the desk. Marlow recognized that this was a very expensive and valuable desk. Marlow told
BillyBob that he wanted to buy the desk and would pay $2299. Marlow's action was a(n) -
Answer offer
After Buck found Chandler's wallet, Chandler orally promised to pay Buck $100. Chandler _____
legally bound to pay because the consideration for her promise was______. - Answer is not;
past
When a clause in a non-compete contract is too restrictive, most courts generally - Answer
throw it out but enforce the remainder of the agreement.
Bart agreed to sell Lisa his motorcycle for $1500. Lisa paid Bart $1500, and Bart promised
delivery the next day. This is an example of a(n) - Answer executory contact
Walter White purchased a used car from Mr. Freing on the basis of Mr. Freing's statement that
the car was "a real bargain and a tremendous buy." Shortly afterward, Walter White found that
the car did not give the performance that she had expected. Can Walter White legally return the
car on the grounds of Mr. Freing's statement? - Answer No; when the seller makes
statements of opinion concerning the article for sale, the validity of the contract is not affected.
Mack was struck by a car driven by Gaines, who orally promised Mack $1,500 if she would not
bring suit for injuries. Mack agreed. Mack - Answer has a right to $1,500 because she
refrained from doing what she had a legal right to do.
Chandler offered to sell his used car to Bing for $2,000. Bing declined. The offer has been
terminated by - Answer rejection
Leonard accepted Howard's oral offer to sell a small parcel of real property. This agreement is -
Answer legal but unenforceable by either party
