Question 1

A minor is someone who:
A)is under the legal age of majority
B)is over the legal age of majority
C)is old enough to drive
D)is old enough to vote
E)does not earn any taxable income

Accepted Answer

A minor is someone who has not yet reached the legal age of majority, which varies by country and jurisdiction. In most places, it is under 18 years old. Therefore, choice A is the correct answer. Choices B, C, D, and E are incorrect because they do not meet the definition of a minor as someone who is not yet legally an adult.

Question 2

Army enlistment contracts and marriage contracts are examples of:
A)contracts that minors may not disaffirm
B)contracts that minors can always disaffirm
C)contracts that anyone can disaffirm
D)contracts that minors may not enter into
E)none of the other choices are correct

Accepted Answer

Both army enlistment contracts and marriage contracts are considered to be contracts that minors may not disaffirm, meaning that even though a minor is typically not bound by a contract they sign, they cannot use their age as a defense to avoid the obligations of these specific contracts.

Question 3

Smith,who lives in your apartment building,drives you crazy.You agree to give Ratzo $5,000 if he gets rid of Smith for you.After disposing of her,Ratzo returns for his money.You refuse to pay.Ratzo sues you;the court holds the contract is:
A)enforceable and completed;you must pay what is owed
B)enforceable,but $5,000 is an unconscionable price,so it revises the contract
C)unenforceable because it involves a public servant
D)unenforceable because it involves an illegal agreement
E)enforceable because evidence proved Ms.Smith was driving everyone crazy

Accepted Answer

The agreement to harm or dispose of another person is illegal and therefore unenforceable by law.

Question 4

Smith,who lives in your apartment building,drives you crazy.You agree to give Ratzo $5,000 if he gets rid of Smith for you.After disposing of her,Ratzo returns for his money.You refuse to pay.Ratzo sues you;the court holds the contract is:
A)enforceable and completed;you must pay what is owed
B)enforceable,but $5,000 is an unconscionable price,so it revises the contract
C)unenforceable because it involves a public servant
D)enforceable because evidence proved Ms.Smith was driving everyone crazy
E)none of the other choices

Accepted Answer

Contracts that involve committing a crime are void and cannot be enforced by law.

Question 5

Because of the war on terrorism,the U.S.government prohibited doing business with certain countries.Contracts that existed at the time the prohibition was announced were:
A)unilateral
B)unconscionable
C)exculpatory
D)quasi-contracts
E)none of the other choices

Accepted Answer

Contracts existing at the time a prohibition is announced due to reasons such as the war on terrorism do not fall under the categories of unilateral, unconscionable, exculpatory, or quasi-contracts. These terms describe specific types of contracts or clauses within contracts, none of which directly relate to the legality or enforceability of contracts under new government prohibitions.

Question 6

16-year-old Green bought a car that he later wanted to return for a full refund.If the dealer refuses a court is likely to hold that:
A)contracts do not permit refunds,so the sale was final
B)as a minor Green could disaffirm the contract,receive a refund and receive damages for fraud against a minor
C)as a minor Green cannot disaffirm the contract
D)as a minor he could disaffirm the contract;his parents would have to take responsibility for the contract
E)none of the other choices

Accepted Answer

The answer of 16-year-old Green bought a car that he...

Question 7

For a contract to be valid,its subject matter must be lawful.A contract is illegal and unenforceable if its subject matter:
A)violates nonvoidable rationales
B)violates "ethical meritoria"
C)violates state or federal statutory law
D)violates judicial conscience
E)all of the other choices

Accepted Answer

Only choice C mentions state or federal statutory law, which is the most common basis for determining whether a contract's subject matter is lawful. A contract that violates statutory law, such as a contract to commit a crime, is illegal and unenforceable. Choices A, B, and D are not recognized legal criteria for determining the lawfulness of a contract. Choice E simply includes all of the choices, without providing any helpful information.

Question 8

An exculpatory agreement:
A)is the offeree's initial expression of agreement before a contract is formalized in writing
B)releases one party from the consequences brought about by wrongful acts or negligence
C)is a form of counteroffer whereby the offeree accepts part and rejects part of a contract
D)is an agreement that has not been fully performed by either party
E)none of the other choices

Accepted Answer

An exculpatory agreement, also known as a waiver of liability or a release, releases one party from the consequences brought about by wrongful acts or negligence.

Question 9

A hires B to work for his logging operation,which is dangerous work.A has B sign a contract that says that B will not sue A in the event of injuries that happen on the job.This contract,which is probably illegal is:
A)promissory estoppel
B)an unconscionable contract
C)a non-voidable contract
D)detrimental reliance contract
E)none of the other choices

Accepted Answer

The answer of A hires B to work for his...

Question 10

A hires B to work for his logging operation,which is dangerous work.A has B sign a contract that says that B will not sue A in the event of injuries that happen on the job.This contract,which is probably illegal is:
A)an exculpatory agreement
B)an unconscionable contract
C)a non-voidable contract
D)detrimental reliance contract
E)none of the other choices;the contract is legal

Accepted Answer

The contract described is an exculpatory agreement, which is a type of contract that releases one party from liability for harm caused to the other party. However, such agreements are often deemed to be against public policy and therefore illegal. This is particularly true in situations where one party has a clear advantage over the other, such as in an employment relationship where the employer controls the work environment and sets the terms of employment.

Question 11

A contract that violates state or federal statutory law is:
A)illegal,but enforceable
B)subject to a variety of fines and extra regulations
C)legal,but unenforceable
D)legal and enforceable
E)none of the other choices are correct

Accepted Answer

Contracts that violate state or federal statutory law are generally considered illegal and unenforceable, which is not explicitly stated in any of the provided options. Therefore, the correct answer is that none of the other choices are correct.

Question 12

17-year-old Robert purchased a car from King that was later destroyed by fire.Robert sued to recover the price of the car.The court would hold that:
A)no contract existed;Robert relied on King to his detriment
B)no contract existed because Robert is too young to enter into a contract;his parents are parties to the contract
C)a contract existed,but Robert was a minor and so could disaffirm the contract and get a full refund
D)a contract existed,but the uneven bargaining positions of the parties allowed the court to render the contract void as in violation of public policy
E)none of the other choices

Accepted Answer

The answer of 17-year-old Robert purchased a car from King...

Question 13

A contract that violates state or federal statutory law is:
A)illegal,but enforceable
B)illegal and unenforceable
C)legal,but unenforceable
D)legal and enforceable
E)subject to a variety of fines and extra regulations

Accepted Answer

A contract that violates state or federal statutory law is considered illegal and unenforceable. This means that the contract cannot be upheld in court and will not be enforced.

Question 14

A minor is someone who:
A)does not earn any taxable income
B)is over the legal age of majority
C)is old enough to drive
D)is old enough to vote
E)none of the other choices are correct

Accepted Answer

None of the given choices accurately define what a minor is. A minor is a person who has not yet reached the age of majority, which varies by jurisdiction but is typically 18 years old.

Question 15

For a contract to be valid,its subject matter must be lawful.A contract is illegal and unenforceable if its subject matter:
A)violates the common law
B)is contrary to public policy
C)violates state or federal statutory law
D)none of the other choices
E)all of the specific choices are correct

Accepted Answer

All of the specific choices are correct. To be valid, a contract's subject matter must be lawful and not violate the common law or state/federal statutory law. Additionally, the subject matter cannot be contrary to public policy, which includes activities such as gambling, prostitution, or promoting illegal drugs. Contracts involving these types of activities are deemed illegal and unenforceable by courts.

Question 16

17-year-old Robert purchased a car from King that was then destroyed by fire.Robert sued to recover the price of the car.The court would hold that:
A)no contract existed;Robert relied on King to his detriment
B)no contract existed because Robert is too young to enter into a contract;his parents are parties to the contract
C)a contract existed,but Robert was a minor and so could disaffirm the contract and get a full refund
D)a contract existed,but the uneven bargaining positions of the parties allowed the court to render the contract void as in violation of public policy
E)a contract existed that Robert could disaffirm,but he could only collect a refund equal to the value of the car after the fire

Accepted Answer

The answer of 17-year-old Robert purchased a car from King...

Question 17

Because of the war on terrorism,the U.S.government prohibited doing business with certain countries.Contracts that existed at the time the prohibition was announced were:
A)unenforceable
B)unconscionable
C)exculpatory
D)quasi-contracts
E)unilateral

Accepted Answer

Contracts that existed at the time the prohibition was announced would be unenforceable because they would violate the government's prohibition. This means that the parties would not be able to legally fulfill the terms of the contract and would be in breach of its terms.

Question 18

Jennifer enters into a contract when she is sixteen.When she reaches the age of majority she may manifest her intent to be bound to the contract;that is,to ________ the contract.
A)adjudicate
B)exculpate
C)assert
D)covenant
E)none of the other choices

Accepted Answer

The correct term for manifesting intent to be bound to a contract upon reaching the age of majority is to "ratify" the contract, which is not among the provided options. None of the given choices accurately describe this action.

Question 19

Jennifer enters into a contract when she is sixteen.When she reaches the age of majority she may manifest her intent to be bound to the contract;that is,to ________ the contract.
A)adjudicate
B)exculpate
C)ratify
D)covenant
E)assert

Accepted Answer

When Jennifer reaches the age of majority, she has the option to ratify (or confirm) the contract she entered into at the age of sixteen. This means she is agreeing to be bound by the terms of the contract. Adjudication refers to a legal process of resolving a dispute, exculpate means to free from blame, covenant refers to a promise or agreement, and assert means to state or declare confidently. None of these options are the best choice in this scenario.

Question 20

Generally a minor cannot disaffirm which contract?
A)for an educational loan
B)for insurance
C)for a bank account
D)for enlisting in the Army
E)none of the other choices may be disaffirmed

Accepted Answer

The answer of Generally a minor cannot disaffirm which contract?
A)for...

Quiz 10: Contracts

A minor is someone who:

Army enlistment contracts and marriage contracts are examples of:

Smith,who lives in your apartment building,drives you crazy.You agree to give Ratzo $5,000 if he gets rid of Smith for you.After disposing of her,Ratzo returns for his money.You refuse to pay.Ratzo sues you;the court holds the contract is:

Smith,who lives in your apartment building,drives you crazy.You agree to give Ratzo $5,000 if he gets rid of Smith for you.After disposing of her,Ratzo returns for his money.You refuse to pay.Ratzo sues you;the court holds the contract is:

Because of the war on terrorism,the U.S.government prohibited doing business with certain countries.Contracts that existed at the time the prohibition was announced were:

16-year-old Green bought a car that he later wanted to return for a full refund.If the dealer refuses a court is likely to hold that:

For a contract to be valid,its subject matter must be lawful.A contract is illegal and unenforceable if its subject matter:

An exculpatory agreement:

A hires B to work for his logging operation,which is dangerous work.A has B sign a contract that says that B will not sue A in the event of injuries that happen on the job.This contract,which is probably illegal is:

A hires B to work for his logging operation,which is dangerous work.A has B sign a contract that says that B will not sue A in the event of injuries that happen on the job.This contract,which is probably illegal is:

A contract that violates state or federal statutory law is:

17-year-old Robert purchased a car from King that was later destroyed by fire.Robert sued to recover the price of the car.The court would hold that:

A contract that violates state or federal statutory law is:

A minor is someone who:

For a contract to be valid,its subject matter must be lawful.A contract is illegal and unenforceable if its subject matter:

17-year-old Robert purchased a car from King that was then destroyed by fire.Robert sued to recover the price of the car.The court would hold that:

Because of the war on terrorism,the U.S.government prohibited doing business with certain countries.Contracts that existed at the time the prohibition was announced were:

Jennifer enters into a contract when she is sixteen.When she reaches the age of majority she may manifest her intent to be bound to the contract;that is,to ________ the contract.

Jennifer enters into a contract when she is sixteen.When she reaches the age of majority she may manifest her intent to be bound to the contract;that is,to ________ the contract.

Generally a minor cannot disaffirm which contract?