LEGL 2700 UGA Epstein Test 2 Prep
Questions and Answers Graded A+
All contracts must be in writing to be enforceable (T/F) - Correct answer-False
The elements of a contract are... (5 of them) - Correct answer-Offer, Acceptance,
Consideration, Legality, and Capacity
All contract law is based on common law (T/F) - Correct answer-False
Under common law, the "mirror image rule" says an acceptance must be valid
(T/F) - Correct answer-True
The "mailbox" rule applies to: - Correct answer-Acceptances
There are only three ways to terminate an offer. They are rejection, death of
offeror, and destruction of subject matter... (T/F) - Correct answer-False
Lying about a material fact to try and trick someone into a deal is known as: -
Correct answer-Fraud
The legal requirement that certain contracts must be in writing is known as the: -
Correct answer-Statute of Frauds
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, Illegal contracts are:
A. cool
B. treated the same as contracts with minors
C. Voidable
D. Void
E. Valid - Correct answer-D. Void
People who lack capacity must still pay for __________ even though most of their
contracts are voidable.
A. Valuables
B. Luxuries
C. Necessaries
D. Needs
E. Yum Yums - Correct answer-C. Necessaries
An offeror has the right to revoke an offer at any time prior to valid acceptance. If
an offeror and offeree agree to keep an offer open for a period of time, and there is
consideration given, then the offer remains open until the agreed-upon date. This is
a(n) _______ contract.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Questions and Answers Graded A+
All contracts must be in writing to be enforceable (T/F) - Correct answer-False
The elements of a contract are... (5 of them) - Correct answer-Offer, Acceptance,
Consideration, Legality, and Capacity
All contract law is based on common law (T/F) - Correct answer-False
Under common law, the "mirror image rule" says an acceptance must be valid
(T/F) - Correct answer-True
The "mailbox" rule applies to: - Correct answer-Acceptances
There are only three ways to terminate an offer. They are rejection, death of
offeror, and destruction of subject matter... (T/F) - Correct answer-False
Lying about a material fact to try and trick someone into a deal is known as: -
Correct answer-Fraud
The legal requirement that certain contracts must be in writing is known as the: -
Correct answer-Statute of Frauds
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Illegal contracts are:
A. cool
B. treated the same as contracts with minors
C. Voidable
D. Void
E. Valid - Correct answer-D. Void
People who lack capacity must still pay for __________ even though most of their
contracts are voidable.
A. Valuables
B. Luxuries
C. Necessaries
D. Needs
E. Yum Yums - Correct answer-C. Necessaries
An offeror has the right to revoke an offer at any time prior to valid acceptance. If
an offeror and offeree agree to keep an offer open for a period of time, and there is
consideration given, then the offer remains open until the agreed-upon date. This is
a(n) _______ contract.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
