BUSINESS LAW TEST 2: CHAPTERS 11, 12, 13, 14, 15,
AND 16 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. In what situations would a court be likely to award a
quasi-contract? Choose 2 answer choices.
a. When the unjust enrichment is a relatively insignificant
amount of money
b. When the party provided the services for unwilling
recipients
c. If the defendant was unjustly enriched and played a
part in deceiving the plaintiff
d. If the defendant did not know the plaintiff would
expect to be paid for the services
Answer:
a. When the unjust enrichment is a relatively insignificant amount of money
c. If the defendant was unjustly enriched and played a part in deceiving the
plaintiff
Question:
2. What must a plaintiff show to be awarded a quasi-
contract in a lawsuit?
a. The defendant agreed to compensate the plaintiff for
the benefit received.
b. The defendant was unjustly enriched.
c. The defendant expected to be paid.
d. The plaintiff received some benefit.
Answer:
b. The defendant was unjustly enriched.
Question:
3. In a unilateral contract:
a. substantially undertaking performance prevents the
offeror from revoking the offer.
b. the parties exchange a promise for a promise.
c. acceptance may occur through a promise or an act.
d. the offeror may revoke the offer at any time before
performance has been completed.
Answer:
a. substantially undertaking performance prevents the offeror from revoking the
offer.
,Question:
4. Which of the following creates a bilateral contract?
a. a competition with prizes
b. a sale of goods with payment at delivery
c. lottery tickets
d. reward posters
Answer:
b. a sale of goods with payment at delivery
Question:
5. Don and Kim have entered into a contract for the
purchase of a car. Don has paid money for the car, but
Kim has not yet delivered it. This is an:
a. implied contract.
b. executed contract.
c. illusory contract.
d. executory contract.
Answer:
d. executory contract.
Question:
6. Carol and Al enter into a contract for the sale of a
painting. Carol pays Al the asking price and Al delivers to
Carol the painting. This contract is an:
a. executed contract.
b. executory contract.
c. illusory contract.
d. implied contract.
Answer:
a. executed contract.
Question:
7. What is the term for the legal ability to enter into a
binding contract?
a, legal capability
b. contractual capacity
c. emancipation
d. mental competence
Answer:
b. contractual capacity
,Question:
8. What is the term for a contract agreement in which an
offeror promises to pay after the occurrence of a
specified act, and the offeree is not required to respond
in words?
a. bilateral contract
b. unilateral contract
c. executed contract
d. open contract
Answer:
b. unilateral contract
Question:
9. What factors make an agreement enforceable under the
principle of quasi-contract? Choose 2 answers.
a. The enriching party is negligent.
b. One party is being enriched at the expense of the
other.
c. The courts determine that an enforceable contract
exists.
d. The enriched party knows about the benefit and keeps
it.
Answer:
b. One party is being enriched at the expense of the other.
d. The enriched party knows about the benefit and keeps it.
Question:
10. Sal has ordered 100 pounds of shrimp for his restaurant
from Sam every Friday for 5 years and has always paid
that week's market price. One Friday, Sal decides to take
a vacation but doesn't tell Sam. Sam claims they have a
contract, even though it was never written down. What
kind of contract do they have?
a. Implied
b. quasi
c. Parol
d. express
Answer:
a. Implied
, Question:
11. Quon and Bert have signed a contract for Bert to mow
Quon's grass every week in June, July, and August for a
price of $40 per week. They have agreed to all the
necessary terms, but Bert has not yet mowed because it
is still May. What type of contract do they have?
a. void
b. unilateral
c. executory
d. executed
Answer:
c. executory
Question:
12. What elements are required for courts to apply the
doctrine of promissory estoppel? Choose 3 answers.
a. The promise must be definite and relied upon.
b. Enforcement of the promise is necessary to avoid
injustice to the promisee.
c. There was a detrimental result from reliance on the
promise.
d. There must have been consideration given with the
promise.
Answer:
a. The promise must be definite and relied upon.
b. Enforcement of the promise is necessary to avoid injustice to the promisee.
c. There was a detrimental result from reliance on the promise.
Question:
13. When party A and B form a contract and both parties
fully perform, the contract is considered:
a. executory.
b. executed.
c. invalid.
d. valid.
Answer:
b. executed.
AND 16 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. In what situations would a court be likely to award a
quasi-contract? Choose 2 answer choices.
a. When the unjust enrichment is a relatively insignificant
amount of money
b. When the party provided the services for unwilling
recipients
c. If the defendant was unjustly enriched and played a
part in deceiving the plaintiff
d. If the defendant did not know the plaintiff would
expect to be paid for the services
Answer:
a. When the unjust enrichment is a relatively insignificant amount of money
c. If the defendant was unjustly enriched and played a part in deceiving the
plaintiff
Question:
2. What must a plaintiff show to be awarded a quasi-
contract in a lawsuit?
a. The defendant agreed to compensate the plaintiff for
the benefit received.
b. The defendant was unjustly enriched.
c. The defendant expected to be paid.
d. The plaintiff received some benefit.
Answer:
b. The defendant was unjustly enriched.
Question:
3. In a unilateral contract:
a. substantially undertaking performance prevents the
offeror from revoking the offer.
b. the parties exchange a promise for a promise.
c. acceptance may occur through a promise or an act.
d. the offeror may revoke the offer at any time before
performance has been completed.
Answer:
a. substantially undertaking performance prevents the offeror from revoking the
offer.
,Question:
4. Which of the following creates a bilateral contract?
a. a competition with prizes
b. a sale of goods with payment at delivery
c. lottery tickets
d. reward posters
Answer:
b. a sale of goods with payment at delivery
Question:
5. Don and Kim have entered into a contract for the
purchase of a car. Don has paid money for the car, but
Kim has not yet delivered it. This is an:
a. implied contract.
b. executed contract.
c. illusory contract.
d. executory contract.
Answer:
d. executory contract.
Question:
6. Carol and Al enter into a contract for the sale of a
painting. Carol pays Al the asking price and Al delivers to
Carol the painting. This contract is an:
a. executed contract.
b. executory contract.
c. illusory contract.
d. implied contract.
Answer:
a. executed contract.
Question:
7. What is the term for the legal ability to enter into a
binding contract?
a, legal capability
b. contractual capacity
c. emancipation
d. mental competence
Answer:
b. contractual capacity
,Question:
8. What is the term for a contract agreement in which an
offeror promises to pay after the occurrence of a
specified act, and the offeree is not required to respond
in words?
a. bilateral contract
b. unilateral contract
c. executed contract
d. open contract
Answer:
b. unilateral contract
Question:
9. What factors make an agreement enforceable under the
principle of quasi-contract? Choose 2 answers.
a. The enriching party is negligent.
b. One party is being enriched at the expense of the
other.
c. The courts determine that an enforceable contract
exists.
d. The enriched party knows about the benefit and keeps
it.
Answer:
b. One party is being enriched at the expense of the other.
d. The enriched party knows about the benefit and keeps it.
Question:
10. Sal has ordered 100 pounds of shrimp for his restaurant
from Sam every Friday for 5 years and has always paid
that week's market price. One Friday, Sal decides to take
a vacation but doesn't tell Sam. Sam claims they have a
contract, even though it was never written down. What
kind of contract do they have?
a. Implied
b. quasi
c. Parol
d. express
Answer:
a. Implied
, Question:
11. Quon and Bert have signed a contract for Bert to mow
Quon's grass every week in June, July, and August for a
price of $40 per week. They have agreed to all the
necessary terms, but Bert has not yet mowed because it
is still May. What type of contract do they have?
a. void
b. unilateral
c. executory
d. executed
Answer:
c. executory
Question:
12. What elements are required for courts to apply the
doctrine of promissory estoppel? Choose 3 answers.
a. The promise must be definite and relied upon.
b. Enforcement of the promise is necessary to avoid
injustice to the promisee.
c. There was a detrimental result from reliance on the
promise.
d. There must have been consideration given with the
promise.
Answer:
a. The promise must be definite and relied upon.
b. Enforcement of the promise is necessary to avoid injustice to the promisee.
c. There was a detrimental result from reliance on the promise.
Question:
13. When party A and B form a contract and both parties
fully perform, the contract is considered:
a. executory.
b. executed.
c. invalid.
d. valid.
Answer:
b. executed.
