Bul 3320 Exam 2 Review Verified Study Questions And Answers

BUL 3320 EXAM 2 REVIEW VERIFIED
STUDY QUESTIONS AND ANSWERS
bilateral - ANSWER-A contract is ____________ if the offeror's promise is
answered with the offeree's promise of acceptance.

bilateral contract - ANSWER-if there is any ambiguity to the language of the
offeror's promise, it is presumed to be a ___________ .

True - ANSWER-no act of performance is necessary to create a bilateral
contract. True or False?

bilateral contract. It was created the moment that the painter promised to
paint the store. Painter can be sued if the store isn't painted by the deadline,
and the customer can also be sued if the painter isn't paid. - ANSWER-"If you
promise to paint my store by July 1st, I will pay you $3000. Painter says, "I
promise to do so." what is this an example of?

unilateral contract - ANSWER-a contract is ___________ if the offeror's offer
can be accepted only by the performance of an act by an offeree. There is no
contract until the offeree performs the requested act.

unilateral contract - ANSWER-An offer to create a __________ cannot be
accepted by a promise to perform. It is a "promise for an act."

quasi-contract - ANSWER-an equitable doctine whereby a court may award
monetary damages to a plaintiff for providing work or services to a
defendant even though no actual contract existed.

quasi-contract - ANSWER-This doctrine is intended to prevent unjust
enrichment and unjust retirement.

quasi-contract - ANSWER-A ____________ ___________ is imposed where (1) one
person confers a benefit on another, who retains the benefit, and (2) it would
be unjust to not require that person to pay for the benefit recovered.

True - ANSWER-Implied-in-Law Contract is also called Quasi-Contract. True or
False?

Yes. Under the doctrine of quasi-contract, victim is responsible for any
charges that are not covered by her insurance coverage. - ANSWER-Victim of
a car accident is knocked unconscious and rushed to the hospital, and
doctors perform the necessary actions to save the victims life. The victim

, wakes up from a coma only to see bills from the hospital. Are these charges
reasonable?

bilateral contract - ANSWER-a promise for a promise

unilateral contract - ANSWER-a promise for an act

express contract - ANSWER-a contract expressed in oral or written words

implied-in-fact contract - ANSWER-a contract inferred from the conduct of the
parties

implied-in-law contract (quasi-contract) - ANSWER-a contract implied by law
to prevent unjust enrichment

formal contract - ANSWER-a contract that requires a special form or method
of creation

informal contract - ANSWER-a contract that requires no special form or
method of creation

executed contract - ANSWER-a completed contract that has been fully
performed on both sides

executory contract - ANSWER-a contract that has not been performed on
both sides

executory contracts - ANSWER-contracts that have been fully performed by
one side but not by the other are classified as .....

actual contract - ANSWER-a ____________ contract may be either expressed or
implied-in-fact.

express contract - ANSWER-most personal and business contracts; stated in
oral or written form........

express contract - ANSWER-a written agreement to buy an automobile from a
dealership is a __________ contract because it is in written words

express contract - ANSWER-an oral agreement to purchase a neighbor's
bicycle is a ___________ contract because it is in oral words.

1. the plaintiff provided property or services to the defendant.

2. the plaintiff expected to be paid by the defendant for the property or
services and did not provide for the property or services gratuitously.