CONTRACT LAW EXAM QUESTIONS
WITH VERIFIED ANSWERS. A+ GRADE
2025/2026.
Contracts - ANS A promise(s) recognized by law with remedies for breach
Formation - ANS Process of creating a contract, including express and implied methods
oral - ANS what type of express formation is their word against yours?
implied formation - ANS not written but implied agreement in a contract formation
oral or written - ANS express formation can be __or ___?
law-quasi-contract - ANS Court created contract
Parties themselves did not create contract, rather by the courts
Sources of Contract Law - ANS Common law and Uniform Commercial Code (UCC) Article 2
common law - ANS type of contract law that Applies to all contracts
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Article two of the uniform commercial code (UCC) contracts for the sale of goods -
ANS Applies for certain types of contracts
Backbone of business law
Only deals w personal property, not real property
broken into articles (were focusing on article 2)
Written to protect merchants
If you're selling tangible personal property by contract is who is protected by the UCC
The transactions no matter where u are nationally, the sale of goods will be treated the same
Valid Contract - ANS Contains all essential elements: offer, acceptance, legal capacity,
subject matter, consideration
valid/void/voidable - ANS what are the classifications of contracts?
valid contract - ANS type of contract where All 5 elements present in contract
Offer
Acceptance
legal capacity of contracting parties
legal subject matter
Consideration - ANS what are the 5 elements present in contract
Void Contract - ANS Lacks one or more essential elements, rendering it non-existent
Voidable Contract - ANS Can be voided at the option of one party, such as contracts with
minors
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
WITH VERIFIED ANSWERS. A+ GRADE
2025/2026.
Contracts - ANS A promise(s) recognized by law with remedies for breach
Formation - ANS Process of creating a contract, including express and implied methods
oral - ANS what type of express formation is their word against yours?
implied formation - ANS not written but implied agreement in a contract formation
oral or written - ANS express formation can be __or ___?
law-quasi-contract - ANS Court created contract
Parties themselves did not create contract, rather by the courts
Sources of Contract Law - ANS Common law and Uniform Commercial Code (UCC) Article 2
common law - ANS type of contract law that Applies to all contracts
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Article two of the uniform commercial code (UCC) contracts for the sale of goods -
ANS Applies for certain types of contracts
Backbone of business law
Only deals w personal property, not real property
broken into articles (were focusing on article 2)
Written to protect merchants
If you're selling tangible personal property by contract is who is protected by the UCC
The transactions no matter where u are nationally, the sale of goods will be treated the same
Valid Contract - ANS Contains all essential elements: offer, acceptance, legal capacity,
subject matter, consideration
valid/void/voidable - ANS what are the classifications of contracts?
valid contract - ANS type of contract where All 5 elements present in contract
Offer
Acceptance
legal capacity of contracting parties
legal subject matter
Consideration - ANS what are the 5 elements present in contract
Void Contract - ANS Lacks one or more essential elements, rendering it non-existent
Voidable Contract - ANS Can be voided at the option of one party, such as contracts with
minors
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
