C713 - Business Law - Unit 5 Learning Checks, Quizzes and
Sample Questions
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objections Module 7 key terms Law midterms Chapte
8 terms 6 terms 7 terms 33 terms
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What is one of the main purposes of contract law? C
A. To discourage misuse of the environment
B. To discourage harms against society
C. To ensure that promises made among private parties
are enforceable
D. To ensure that one party does not threaten another
To determine a party's intent in a contract case, a court B
will apply which theory of contracts?
A. The subjective theory of contracts
B. The consideration theory of contracts
C. The objective theory of contracts
D. The alternate-party theory of contracts
Doris owns 200 acres of land and told her daughter, Julie, B
that she could build a house on the property. Julie used
the proceeds of a personal injury settlement to finance
the house. Julie then asked Doris for a deed to the
property so that she could obtain a mortgage, but Doris
refused. Will Julie prevail in her suit against Doris?
A. Yes, because Julie is entitled as Doris's daughter
B. Yes, because Julie actually relied on Doris's promise
C. No, because Doris has a right to change her mind
D. No, because Doris did not foresee that Julie would
actually use her settlement money to finance the house.
, What element of a contract refers to the parties involved D
as being "adults of sound mind"?
A. Consent
B. Legality
C. Consideration
D. Capacity
What does it mean if a party to a contract has been C
discharged?
A. It means the person has "transferred" by assigning his
or her duties to another party.
B. It means the person has "delegated" and chosen to
give up his or her contract rights.
C. It means the person has "finished" and has no more
duties under the contract.
D. It means the person has been "let go" and has
terminated the contract.
Omar substantially performed his obligations under a C
service contract.
What is Omar entitled to receive?
A. The full contract price
B. Substantially nothing
C. The full contract price minus the value of the defects
D. The fair market value of his performance
What does it mean to "undo" a contract and put the D
parties where they were before they made the
agreement?
A. Remediation
B. Restitution
C. Reliance
D. Rescission
Maggie contracts with Andrew, a minor, to sell her car. B
When Andrew turned 17 he disaffirmed the contract and
state that he no longer wants the car.
Is the contract voidable by Andrew?
A. No, because once in a contract it is not voidable
B. Yes, because Andrew was a minor when he disaffirmed
C. No, because this will be unfair to Maggie
D. Yes, because Andrew changed his mind
Sample Questions
Save
Students also studied
objections Module 7 key terms Law midterms Chapte
8 terms 6 terms 7 terms 33 terms
hakam_hamed Preview Emily_Wagner888 Preview quizlette8663783 Preview Day
What is one of the main purposes of contract law? C
A. To discourage misuse of the environment
B. To discourage harms against society
C. To ensure that promises made among private parties
are enforceable
D. To ensure that one party does not threaten another
To determine a party's intent in a contract case, a court B
will apply which theory of contracts?
A. The subjective theory of contracts
B. The consideration theory of contracts
C. The objective theory of contracts
D. The alternate-party theory of contracts
Doris owns 200 acres of land and told her daughter, Julie, B
that she could build a house on the property. Julie used
the proceeds of a personal injury settlement to finance
the house. Julie then asked Doris for a deed to the
property so that she could obtain a mortgage, but Doris
refused. Will Julie prevail in her suit against Doris?
A. Yes, because Julie is entitled as Doris's daughter
B. Yes, because Julie actually relied on Doris's promise
C. No, because Doris has a right to change her mind
D. No, because Doris did not foresee that Julie would
actually use her settlement money to finance the house.
, What element of a contract refers to the parties involved D
as being "adults of sound mind"?
A. Consent
B. Legality
C. Consideration
D. Capacity
What does it mean if a party to a contract has been C
discharged?
A. It means the person has "transferred" by assigning his
or her duties to another party.
B. It means the person has "delegated" and chosen to
give up his or her contract rights.
C. It means the person has "finished" and has no more
duties under the contract.
D. It means the person has been "let go" and has
terminated the contract.
Omar substantially performed his obligations under a C
service contract.
What is Omar entitled to receive?
A. The full contract price
B. Substantially nothing
C. The full contract price minus the value of the defects
D. The fair market value of his performance
What does it mean to "undo" a contract and put the D
parties where they were before they made the
agreement?
A. Remediation
B. Restitution
C. Reliance
D. Rescission
Maggie contracts with Andrew, a minor, to sell her car. B
When Andrew turned 17 he disaffirmed the contract and
state that he no longer wants the car.
Is the contract voidable by Andrew?
A. No, because once in a contract it is not voidable
B. Yes, because Andrew was a minor when he disaffirmed
C. No, because this will be unfair to Maggie
D. Yes, because Andrew changed his mind
