Question 1

As English judges were developing the common law of contracts in the twelfth and thirteenth centuries:
A) most promises were found to be enforceable.
B) promises were found not binding unless written and sealed.
C) the term "contract" became common.
D) changes in the law occurred rapidly.

Accepted Answer

English judges in the twelfth and thirteenth centuries held that promises were not binding unless they were in writing and sealed. This principle was known as the "action of covenant," and it required that the agreement be supported by consideration (something of value exchanged between the parties). The idea of a contract as a legally enforceable agreement did not become common until later. Changes in the law occurred slowly over time, as judges dealt with specific cases and gradually developed legal principles to guide future decisions.

Question 2

Mary goes into Honest Harry's Electronics and purchases a TV.Mary agrees to pay for the TV in 30 days on the store's "30 days same as cash" plan.This is an executory contract.

Accepted Answer

An executory contract is a contract where one or both parties have yet to fulfill their obligations. In this scenario, Mary has agreed to pay for the TV in 30 days, so her obligation to do so has not yet been fulfilled, making it an executory contract.

Question 3

Alex promises to pay $100 to anyone who finds his lost watch.Kate finds and returns the watch to Alex after hearing of the reward money.Alex and Kate have an enforceable unilateral contract.

Accepted Answer

A unilateral contract is formed when one party makes a promise in exchange for a specific act or performance by another party. In this case, Alex promised to pay $100 to anyone who finds his lost watch, and Kate found and returned the watch after hearing of the reward money. This means that Kate performed the act required under the unilateral contract, and Alex is obligated to pay the reward as promised. Therefore, they have an enforceable unilateral contract.

Question 4

Lucy and Rick sign a contract in which Lucy agrees to deliver 10 boxes of chocolates in exchange for Rick's promise to pay $5 per box.Lucy delivers the candy.Rick pays for the goods.This contract is fully executory.

Accepted Answer

This contract is not fully executory because both parties have already performed their obligations (Lucy delivered the chocolates and Rick paid for them).

Question 5

Upon the recommendation of a friend,Hope hires Joey to rewire her kitchen and he completes the work within the time agreed.Then Hope finds out that Joey is not a licensed electrician,and she refuses to pay him for the work.A court will enforce the agreement because otherwise Hope would be unjustly enriched.

Accepted Answer

Joey not being a licensed electrician raises questions about his competency and the safety of the work he performed. Hope's refusal to pay could be seen as reasonable precaution on her part, rather than an attempt to unjustly enrich herself. Moreover, Joey's lack of licensure may violate state or local codes. Therefore, a court may not enforce the agreement.

Question 6

When Myrtle comes home from work one evening,she finds that her yard has been mowed and trimmed.Later,a man comes to collect for the yard work done.Myrtle refuses to pay for the work since she has never seen the man before and did not hire him to do her yard work.Which of the following answers is most accurate?
A) This is an implied, unilateral contract and she must pay the price requested by the man.
B) This is an express, voidable contract that either party may avoid.
C) The court would order Myrtle to pay the reasonable value of the yard work because of the benefit conferred on her.
D) Myrtle would not have to pay for the yard work.

Accepted Answer

Myrtle did not request or agree to the yard work beforehand, so she is not obligated to pay for unsolicited services.

Question 7

Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie's house by noon on Saturday.If Teresa cleans the house by noon on Saturday and Valerie pays the $75,then this is an implied,bilateral,executory contract.

Accepted Answer

This is an example of an express, bilateral, executed contract. It is express because the terms are clearly stated and communicated between the parties, bilateral because it involves a promise for a promise (Valerie's promise to pay and Teresa's promise to clean), and executed because both parties have fulfilled their obligations (Teresa cleaned the house and Valerie paid the $75).

Question 8

Under a contract,Danielle is required to paint a room with paint chosen by the homeowners,the Flynns.After Danielle paints the room according to the contract requirements,her duties under the contract are discharged.

Accepted Answer

Once Danielle has painted the room according to the contract requirements, she has fulfilled her duties and the contract is discharged.

Question 9

One purpose of contract law is to make business matters more predictable.

Accepted Answer

Contract law provides a framework for parties to enter into and enforce agreements, which can help reduce uncertainty and promote stability in business dealings.

Question 10

Paid surrogacy contracts are viewed by the legislative majority in all states as immoral and illegal.

Accepted Answer

Paid surrogacy contracts are legal in some states and viewed as a viable option for individuals and couples struggling with infertility. However, there are still a few states where it is illegal or restricted. It ultimately depends on the laws and regulations of each individual state.

Question 11

Strawly Corp.runs an "adult bookstore" in Metro City,leasing the building from MegaCorp.Then,Metro City passes an ordinance prohibiting the sales of the types of merchandise found in "adult bookstores." Strawly is still bound to the contract.

Accepted Answer

The answer of Strawly Corp.runs an "adult bookstore" in Metro...

Question 12

Miles purchased a lawnmower with an attached warning that said,"The manufacturer is not responsible in the case of an injury caused by the lawnmower." If Miles is injured because of a defect in the mower and sues the lawnmower manufacturer,he will most likely:
A) lose, as he agreed to not hold the lawnmower manufacturer liable.
B) lose, as he assumed the risk.
C) win, as this warning would be unenforceable.
D) win, as all lawnmower manufacturers are strictly liable.

Accepted Answer

The warning on the lawnmower is an attempt by the manufacturer to limit their liability for injuries caused by the product. However, such a warning may not be enforceable if the defect in the lawnmower was due to the manufacturer's negligence or failure to meet safety standards. In such a case, Miles would likely be able to successfully sue the manufacturer for his injuries.

Question 13

Jerry offers to shovel the snow from Ben's driveway for $35.Ben replies "OK." This is an example of:
A) an implied, unilateral contract.
B) an express, unilateral contract.
C) an implied, bilateral contract.
D) an express, bilateral contract.

Accepted Answer

This is an example of an express, bilateral contract because both parties have expressed their agreement to the terms of the contract (Jerry will shovel snow from Ben's driveway for $35). It is bilateral because both parties have obligations: Jerry is obligated to shovel the snow and Ben is obligated to pay $35.

Question 14

All oral contracts are quasi-contracts until they are completely executed.

Accepted Answer

All oral contracts may not necessarily be quasi-contracts. Quasi-contracts arise in situations where one party has benefited at the expense of another party without a prior agreement, and the court may imply a contract to prevent unjust enrichment. However, if there is a valid and enforceable oral contract in place between the parties, it is not a quasi-contract.

Question 15

When promissory estoppel is used by the courts,it is because there is NOT an enforceable contract present.

Accepted Answer

Promissory estoppel is used as a substitute for a contract when there is no enforceable contract present. It is used to prevent one party from going back on their promise and to provide a remedy for the other party who relied on that promise to their detriment.

Question 16

Contracts for the sale of fabric,automobiles,computers,furniture,and paper clips would all be governed by Article 2 of the Uniform Commercial Code.

Accepted Answer

Article 2 of the Uniform Commercial Code specifically deals with the sale of goods, which includes all of the items listed in the question.

Question 17

A valid contract can legally be voided by either party.

Accepted Answer

A valid contract cannot be voided by either party. It can only be terminated through mutual agreement or by legal means such as breach of contract.

Question 18

Robert offers to buy a car from Jane for $400.Jane must accept this offer in order to form an enforceable contract.

Accepted Answer

For a contract to be enforceable, there must be an offer by one party and an acceptance of that offer by the other party.

Question 19

The common law governs contracts for:
A) services.
B) real estate.
C) employment.
D) All of the above.

Accepted Answer

The common law governs contracts for services, real estate, and employment, as well as many other types of contracts. The common law refers to legal principles and rules that have developed through judicial decisions. Therefore, contracts in all of these areas are subject to the common law.

Question 20

Some of the elements of a contract are agreement,consideration,legality,and capacity.

Accepted Answer

These four elements are essential to the formation of a valid contract. Agreement refers to the meeting of the minds on the terms of the contract, consideration refers to the exchange of something of value between the parties, legality refers to the requirement that the contract not violate any laws or public policy, and capacity refers to the parties being legally capable of entering into the contract.

Quiz 10: Introduction To Contracts

As English judges were developing the common law of contracts in the twelfth and thirteenth centuries: