BUL 4421 Final - FAU Gendler with
correct answers 100% 2026
CHAPTER 13: Introduction to Contracts - Correct Answers CHAPTER 13: Introduction to
Contracts
Four Elements of a Contract: CLAC - Correct Answers 1. Contractual Capacity
2. Legal Object
3. Agreement (offer, acceptance)
4. Consideration
Contract - Correct Answers -A promise or set of legally enforceable promises for the breach of
which the law gives a remedy or the performance of which the law in some way recognizes a
duty.
Agreement - Correct Answers (Offer & Acceptance)
Offer by Oferror to enter into a contract and acceptance of terms by offeree.
Consideration - Correct Answers i. The bargained-for exchange or what each party gets in
exchange for his or her promise under the contract
(The something for something)
Contractual capacity - Correct Answers i. The legal ability to enter into a binding agreement
Legal Object - Correct Answers subject matter of the contract. Cannot be illegal or against public
policy in order to be enforceable
,Objective Theory of Contracts is the - Correct Answers basis of contract law
Objective Theory of Contracts bases existence on - Correct Answers Outward manifestations of
intent
Objective Theory of Contracts bases interpretation on - Correct Answers how a reasonable
person would interpret it.
________ of parties is not usually relevant under objective theory of contracts - Correct
Answers subjective intent
t or f: subjective intent may be relevant under certain circumstances - Correct Answers true
subjective intent may be relevant if - Correct Answers a mutual misunderstanding b/t parties
exists and they did not come to a true meetings of minds; no contract exists
if there appears a a mutual misunderstanding - Correct Answers look at each party separately,
interpret situation to determine whether parties really reached an agreement
in order to determine whether partied intended to enter into a contract, courts look at - Correct
Answers their objective words and behavior and do not try to figure out what they may have
secretly intending
classification of contract determines - Correct Answers when offeree is legally bound to perform
Bilateral Contract = - Correct Answers A promise + a promise.
-I'll pay you $1000 for you to paint my car.
, -(My promise = $1000)
-(Your promise = Paint my car)
-Mutual exchange
Under bilateral contract, contract formed - Correct Answers as soon as promise exchanged
Unilateral Contract - Correct Answers -a promise + a requested action
-Offerror wants something *done, not a promise* for something to be done.
-ex; find dog and ill pay reward
under unilateral contract, contract formed - Correct Answers once offerree begins performance;
offeror must give reasonable amt of time to finish before voiding contract
Express Contract - Correct Answers The terms of the contract are all clearly set forth in either
written or spoken words.
ex; written agreement by dentist to perform work
Implied Contract - Correct Answers Terms arise from conduct of the parties.
ex; dentist pulling tooth implies you will pay
3 conditions required for implied contracts (and recovery) - Correct Answers 1- benefits
conferred by plaintiff upon defendant
2- defendant has knowledge of benefit being bestowed on them, and
3- defendant retains benefit under circs which it would be unjust to do so without payment
Void Contract - Correct Answers -Not a contract at all; unenforceable
-Either illegal or has some serious defect.
correct answers 100% 2026
CHAPTER 13: Introduction to Contracts - Correct Answers CHAPTER 13: Introduction to
Contracts
Four Elements of a Contract: CLAC - Correct Answers 1. Contractual Capacity
2. Legal Object
3. Agreement (offer, acceptance)
4. Consideration
Contract - Correct Answers -A promise or set of legally enforceable promises for the breach of
which the law gives a remedy or the performance of which the law in some way recognizes a
duty.
Agreement - Correct Answers (Offer & Acceptance)
Offer by Oferror to enter into a contract and acceptance of terms by offeree.
Consideration - Correct Answers i. The bargained-for exchange or what each party gets in
exchange for his or her promise under the contract
(The something for something)
Contractual capacity - Correct Answers i. The legal ability to enter into a binding agreement
Legal Object - Correct Answers subject matter of the contract. Cannot be illegal or against public
policy in order to be enforceable
,Objective Theory of Contracts is the - Correct Answers basis of contract law
Objective Theory of Contracts bases existence on - Correct Answers Outward manifestations of
intent
Objective Theory of Contracts bases interpretation on - Correct Answers how a reasonable
person would interpret it.
________ of parties is not usually relevant under objective theory of contracts - Correct
Answers subjective intent
t or f: subjective intent may be relevant under certain circumstances - Correct Answers true
subjective intent may be relevant if - Correct Answers a mutual misunderstanding b/t parties
exists and they did not come to a true meetings of minds; no contract exists
if there appears a a mutual misunderstanding - Correct Answers look at each party separately,
interpret situation to determine whether parties really reached an agreement
in order to determine whether partied intended to enter into a contract, courts look at - Correct
Answers their objective words and behavior and do not try to figure out what they may have
secretly intending
classification of contract determines - Correct Answers when offeree is legally bound to perform
Bilateral Contract = - Correct Answers A promise + a promise.
-I'll pay you $1000 for you to paint my car.
, -(My promise = $1000)
-(Your promise = Paint my car)
-Mutual exchange
Under bilateral contract, contract formed - Correct Answers as soon as promise exchanged
Unilateral Contract - Correct Answers -a promise + a requested action
-Offerror wants something *done, not a promise* for something to be done.
-ex; find dog and ill pay reward
under unilateral contract, contract formed - Correct Answers once offerree begins performance;
offeror must give reasonable amt of time to finish before voiding contract
Express Contract - Correct Answers The terms of the contract are all clearly set forth in either
written or spoken words.
ex; written agreement by dentist to perform work
Implied Contract - Correct Answers Terms arise from conduct of the parties.
ex; dentist pulling tooth implies you will pay
3 conditions required for implied contracts (and recovery) - Correct Answers 1- benefits
conferred by plaintiff upon defendant
2- defendant has knowledge of benefit being bestowed on them, and
3- defendant retains benefit under circs which it would be unjust to do so without payment
Void Contract - Correct Answers -Not a contract at all; unenforceable
-Either illegal or has some serious defect.
