BLAW 341 FINAL EXAM QUESTIONS & ANSWERS
Holly and Stephen enter into a contract, and Holly drafts the terms of the contract. If this
contract is brought to court, how will the court interpret any vague or ambiguous terms in
the contract?
A) The court will interpret the vague terms giving Stephen the benefit of the doubt.
B) The court will interpret the vague terms giving Holly the benefit of the doubt.
C) The court will interpret the vague terms against both Holly and Stephen.
D) The court will deem the vague terms invalid. - (ANSWER)A) The court will interpret the
vague terms giving Stephen the benefit of the doubt.
When the parties to a goods contract fail to provide details about the required order of
performance, the law states that the _____.
A) the buyer must be penalized for failing to provide details about the order of
performance
B) the seller has the obligatory task of drawing up the required order performance
C) the seller must deliver the goods to the buyer without the buyer being legally obliged to
pay
D) the buyer's payment is a condition that must be satisfied before the seller has the duty
to deliver - (ANSWER)D) the buyer's payment is a condition that must be satisfied before
the seller has the duty to deliver
True or false: If a contract for the sale of goods does not provide for how the goods will be
delivered the UCC will fill in that gap and the contract will be enforceable. -
(ANSWER)True
In the context of excuses for nonperformance of a contract, the difference between a
waiver and a release is that a _____.
A) waiver occurs when a party announces the other party does not have to perform as
promised
B) release occurs when a party intentionally relinquishes a right to enforce the contract
C) waiver generally occurs after a contracting party fails to perform
Holly and Stephen enter into a contract, and Holly drafts the terms of the contract. If this
contract is brought to court, how will the court interpret any vague or ambiguous terms in
the contract?
A) The court will interpret the vague terms giving Stephen the benefit of the doubt.
B) The court will interpret the vague terms giving Holly the benefit of the doubt.
C) The court will interpret the vague terms against both Holly and Stephen.
D) The court will deem the vague terms invalid. - (ANSWER)A) The court will interpret the
vague terms giving Stephen the benefit of the doubt.
When the parties to a goods contract fail to provide details about the required order of
performance, the law states that the _____.
A) the buyer must be penalized for failing to provide details about the order of
performance
B) the seller has the obligatory task of drawing up the required order performance
C) the seller must deliver the goods to the buyer without the buyer being legally obliged to
pay
D) the buyer's payment is a condition that must be satisfied before the seller has the duty
to deliver - (ANSWER)D) the buyer's payment is a condition that must be satisfied before
the seller has the duty to deliver
True or false: If a contract for the sale of goods does not provide for how the goods will be
delivered the UCC will fill in that gap and the contract will be enforceable. -
(ANSWER)True
In the context of excuses for nonperformance of a contract, the difference between a
waiver and a release is that a _____.
A) waiver occurs when a party announces the other party does not have to perform as
promised
B) release occurs when a party intentionally relinquishes a right to enforce the contract
C) waiver generally occurs after a contracting party fails to perform
