BUL 5810 ACTUAL TEST FULL QUESTIONS
AND CORRECT ANSWERS EXAMPREP
STUDY SHEET
●● Any property other than an interest in real property, is/are: (CH 9)
Answer: d. personal property.
●● Which of the following is NOT always necessary in order for a valid
contract to be formed? (CH 9)
Answer: 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? (CH
9)
Answer: c. There must be an absence of invalidating conduct, such as
duress.
●● What is a requirement of an express contract? (CH 9)
Answer: c. The terms are stated in words.
●● If both parties exchange promises, the contract is: (CH 9)
Answer: a. bilateral.
,●● When might a contract might be unenforceable? (CH 9)
Answer: c. If the statute of limitations has passed.
●● The doctrine of promissory estoppel: (CH 9)
Answer: d. is a doctrine that relies on justice and not contractual rights.
●● Another name for a quasi contract is: (CH 9)
Answer: c. an implied in law contract.
●● Which of the following is required in order to recover in quasi
contract? Which of the following is required in order to recover in quasi
contract? (CH 9)
Answer: c. Acceptance or retention of a benefit conferred on the
defendant by the plaintiff
●● Contracts that are implied in law: (CH 9)
Answer: a. are obligations imposed by law on grounds of justice and
equity.
●● Ignoring issues of the Statute of Frauds, is there a contract for the
sale of Vinny's Celica? (CH 9)
Answer: Yes, between Vinny and Oscar for $5,000 cash, since that was
the first offer accepted.
,●● Molly signs a contract with a publishing company to edit text
manuscripts. This contract is governed by (CH 9)
Answer: a. state common law.
●● Sally offers to sell her Business Law textbook from last semester to
Bob for $50.00. Bob accepts Sally's offer and tells her he will pay her on
Friday when he gets his paycheck. A contract is formed: (CH 9)
Answer: d. when Bob accepts Sally's offer
●● Aaron's boss offers to pay him $500 if he will pretend he is sick so
that he does not have to show up for jury duty, but will go to work
instead. Aaron knows that this is against the law, but he would rather be
paid $500 from his boss than the $30 that the court will pay him for jury
duty. Aaron calls in sick and is excused from jury duty. This agreement
between Aaron and his boss is: (CH 9)
Answer: b. not a contract.
●● Sid makes a material representation of fact regarding his car to
Barbara while out driving one day. The next day, Barbara calls Sid and
offers to buy his car. Sid accepts Barbara's offer without correcting the
misrepresentation of fact that he made the previous day. What is the
effect of the material representation on the agreement between Sid and
Barbara? (CH 9)
Answer: a. Barbara may avoid the contract.
, ●● Bill enters into a contract with Harry. The terms are that Bill will
build an addition to Harry's home, replace the roof on Harry's garage,
and make repave Harry's driveway in exchange for Bill's payment to
Harry of several thousand dollars once all of the projects have been
completed. If the driveway repavement has not yet been completed, but
the addition and the roof have been completed, which term describes the
type of contract in existence? (CH 9)
Answer: a. Executory
●● Vince has lost his job and is having difficulty making ends meet.
Last week, the bank repossessed Vince's car. He is telling his neighbor
Paul about his bad luck and Paul says he wishes he could help Vince.
Paul suggests that maybe Vince could have the old car sitting in Paul's
garage if Vince could get it to run. He ends the conversation by saying
"Let me think about it." The next day while Paul is at work, Vince goes
into Paul's garage and begins working on the old car. He gets it running
and drives it out of Paul's garage and into Vince's driveway. When Paul
gets home from work, Vince shows Paul the car and asks him for the
title to the car. Paul tells Vince he had not made up his mind about
whether or not he would give Vince the car. Vince: (CH 9)
Answer: d. has no claim to the car because Paul did not make a promise.
●● Daniel is a self-made millionaire, but he has been medically
committed to a mental health facility. A court also ordered Daniel's
sister, Michelle, to preside over Daniel's business affairs. Once inside the
mental health facility, Daniel befriends his nurse, Amanda. One day,
Amanda tells Daniel about her invention to help identify stray dogs and
cats. Daniel was so impressed by Amanda's invention that he offers to
AND CORRECT ANSWERS EXAMPREP
STUDY SHEET
●● Any property other than an interest in real property, is/are: (CH 9)
Answer: d. personal property.
●● Which of the following is NOT always necessary in order for a valid
contract to be formed? (CH 9)
Answer: 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? (CH
9)
Answer: c. There must be an absence of invalidating conduct, such as
duress.
●● What is a requirement of an express contract? (CH 9)
Answer: c. The terms are stated in words.
●● If both parties exchange promises, the contract is: (CH 9)
Answer: a. bilateral.
,●● When might a contract might be unenforceable? (CH 9)
Answer: c. If the statute of limitations has passed.
●● The doctrine of promissory estoppel: (CH 9)
Answer: d. is a doctrine that relies on justice and not contractual rights.
●● Another name for a quasi contract is: (CH 9)
Answer: c. an implied in law contract.
●● Which of the following is required in order to recover in quasi
contract? Which of the following is required in order to recover in quasi
contract? (CH 9)
Answer: c. Acceptance or retention of a benefit conferred on the
defendant by the plaintiff
●● Contracts that are implied in law: (CH 9)
Answer: a. are obligations imposed by law on grounds of justice and
equity.
●● Ignoring issues of the Statute of Frauds, is there a contract for the
sale of Vinny's Celica? (CH 9)
Answer: Yes, between Vinny and Oscar for $5,000 cash, since that was
the first offer accepted.
,●● Molly signs a contract with a publishing company to edit text
manuscripts. This contract is governed by (CH 9)
Answer: a. state common law.
●● Sally offers to sell her Business Law textbook from last semester to
Bob for $50.00. Bob accepts Sally's offer and tells her he will pay her on
Friday when he gets his paycheck. A contract is formed: (CH 9)
Answer: d. when Bob accepts Sally's offer
●● Aaron's boss offers to pay him $500 if he will pretend he is sick so
that he does not have to show up for jury duty, but will go to work
instead. Aaron knows that this is against the law, but he would rather be
paid $500 from his boss than the $30 that the court will pay him for jury
duty. Aaron calls in sick and is excused from jury duty. This agreement
between Aaron and his boss is: (CH 9)
Answer: b. not a contract.
●● Sid makes a material representation of fact regarding his car to
Barbara while out driving one day. The next day, Barbara calls Sid and
offers to buy his car. Sid accepts Barbara's offer without correcting the
misrepresentation of fact that he made the previous day. What is the
effect of the material representation on the agreement between Sid and
Barbara? (CH 9)
Answer: a. Barbara may avoid the contract.
, ●● Bill enters into a contract with Harry. The terms are that Bill will
build an addition to Harry's home, replace the roof on Harry's garage,
and make repave Harry's driveway in exchange for Bill's payment to
Harry of several thousand dollars once all of the projects have been
completed. If the driveway repavement has not yet been completed, but
the addition and the roof have been completed, which term describes the
type of contract in existence? (CH 9)
Answer: a. Executory
●● Vince has lost his job and is having difficulty making ends meet.
Last week, the bank repossessed Vince's car. He is telling his neighbor
Paul about his bad luck and Paul says he wishes he could help Vince.
Paul suggests that maybe Vince could have the old car sitting in Paul's
garage if Vince could get it to run. He ends the conversation by saying
"Let me think about it." The next day while Paul is at work, Vince goes
into Paul's garage and begins working on the old car. He gets it running
and drives it out of Paul's garage and into Vince's driveway. When Paul
gets home from work, Vince shows Paul the car and asks him for the
title to the car. Paul tells Vince he had not made up his mind about
whether or not he would give Vince the car. Vince: (CH 9)
Answer: d. has no claim to the car because Paul did not make a promise.
●● Daniel is a self-made millionaire, but he has been medically
committed to a mental health facility. A court also ordered Daniel's
sister, Michelle, to preside over Daniel's business affairs. Once inside the
mental health facility, Daniel befriends his nurse, Amanda. One day,
Amanda tells Daniel about her invention to help identify stray dogs and
cats. Daniel was so impressed by Amanda's invention that he offers to
