Page |1
Legl 2700 Roessing COMPLETE (2025)
EXAM TEST WITH LATEST UPDATED
(QUESTIONS AND ANSWERS) Questions
and Correct Answers/ Latest Update /
Already Graded
Promise
Ans: A commitment or willingness to be bound to a contract
obligation
Uniform Commercial Code (UCC)
Ans: The most successful attempt to have states adopt a
uniform law
Purpose is to simplify, clarify, and modernize the laws
governing commercial transactions
Goods
Ans: Tangible (touchable), movable personal property
Bilateral Contract
Ans: Promise in exchange for a promise
Involves promisor and promisee
All rights reserved © 2025/ 2026 |
, Page |2
Usually made to a specific person
Acceptance, then performance later
Binding even when promise hasn't been fulfilled yet
Ex) work order to paint house
Unilateral Contract
Ans: Promise in exchange for an action
Made to the whole world
Acceptance and performance happen at the same time
Not binding until action has been done
Ex) lost dog poster and reward
Express Contracts
Ans: A contract in which parties show their agreement in words
Implied-in-fact Contracts
Ans: A legally enforceable agreement inferred from the
circumstances and conduct of the parties
Implied-in-law Contract
Ans: A quasi-contract; not a true contract
All rights reserved © 2025/ 2026 |
, Page |3
Legal fiction that the courts use to prevent unjust enrichment
and wrongdoing
Courts permit the person who conferred a benefit to recover
the reasonable value of that benefit
Nonetheless, the elements of a true contract are not present
Quasi-contract
Ans: An implied-in-law contract; not a true contract
Legal fiction that the courts use to prevent unjust enrichment
and wrongdoing
Courts permit the person who conferred a benefit to recover
the reasonable value of that benefit
Nonetheless, the elements of a true contract are not present
Enforceable Contract
Ans: A contract that can be enforced in court
Unenforceable Contract
Ans: A contract that cannot be enforced in court
Valid Contract
All rights reserved © 2025/ 2026 |
Legl 2700 Roessing COMPLETE (2025)
EXAM TEST WITH LATEST UPDATED
(QUESTIONS AND ANSWERS) Questions
and Correct Answers/ Latest Update /
Already Graded
Promise
Ans: A commitment or willingness to be bound to a contract
obligation
Uniform Commercial Code (UCC)
Ans: The most successful attempt to have states adopt a
uniform law
Purpose is to simplify, clarify, and modernize the laws
governing commercial transactions
Goods
Ans: Tangible (touchable), movable personal property
Bilateral Contract
Ans: Promise in exchange for a promise
Involves promisor and promisee
All rights reserved © 2025/ 2026 |
, Page |2
Usually made to a specific person
Acceptance, then performance later
Binding even when promise hasn't been fulfilled yet
Ex) work order to paint house
Unilateral Contract
Ans: Promise in exchange for an action
Made to the whole world
Acceptance and performance happen at the same time
Not binding until action has been done
Ex) lost dog poster and reward
Express Contracts
Ans: A contract in which parties show their agreement in words
Implied-in-fact Contracts
Ans: A legally enforceable agreement inferred from the
circumstances and conduct of the parties
Implied-in-law Contract
Ans: A quasi-contract; not a true contract
All rights reserved © 2025/ 2026 |
, Page |3
Legal fiction that the courts use to prevent unjust enrichment
and wrongdoing
Courts permit the person who conferred a benefit to recover
the reasonable value of that benefit
Nonetheless, the elements of a true contract are not present
Quasi-contract
Ans: An implied-in-law contract; not a true contract
Legal fiction that the courts use to prevent unjust enrichment
and wrongdoing
Courts permit the person who conferred a benefit to recover
the reasonable value of that benefit
Nonetheless, the elements of a true contract are not present
Enforceable Contract
Ans: A contract that can be enforced in court
Unenforceable Contract
Ans: A contract that cannot be enforced in court
Valid Contract
All rights reserved © 2025/ 2026 |
