Question 1

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

Accepted Answer

All oral contracts are binding contracts and not quasi-contracts. Quasi-contracts are obligations created by law in the absence of an agreement, while contracts are formed by mutual assent between the parties. Once an oral contract is entered into and performed, it becomes a valid and enforceable contract.

Question 2

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?

Accepted Answer

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

Question 3

A valid contract can legally be voided by either party.

Accepted Answer

A valid contract cannot be voided by either party without grounds for termination stated in the contract or without legal justification, such as fraud or duress. Voiding a valid contract without justification can result in legal consequences.

Question 4

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 5

Jerry offers to shovel the snow from Ben's driveway for $35.Ben replies "OK." This is an example of

Accepted Answer

This is an express, bilateral contract because both parties have made an agreement (Ben agreeing to let Jerry shovel his driveway and Jerry agreeing to do so for $35) and there is an exchange of promises and consideration (shoveling the snow for $35).

Question 6

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

The contract is fully executed because both parties have fulfilled their obligations: Lucy delivered the chocolates and Rick paid for them.

Question 7

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 8

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

Accepted Answer

Even though there is a warning on the lawnmower, if there is a defect in the product that causes injury, the warning will not necessarily protect the manufacturer from liability. Such a warning might make it harder for Miles to win his case, but it is unlikely to undermine his claim entirely in the event of an injury. The warning does not absolve the manufacturer entirely of their responsibility to provide a safe product.

Question 9

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

Alex made a promise to pay $100 to anyone who finds his lost watch, which is an offer for a unilateral contract. Kate found the watch and returned it, which constitutes acceptance by performance. Therefore, an enforceable unilateral contract exists between Alex and Kate.

Question 10

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 not yet fulfilled their obligations. In this case, Mary has agreed to pay for the TV in 30 days, so her obligation to pay is still executory. The contract is not yet fully executed until Mary pays in full.

Question 11

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

Accepted Answer

Acceptance, consideration, legality, and capacity are indeed elements of a contract. Acceptance occurs when one party agrees to the terms proposed by another party. Consideration is the exchange of something of value between the parties. Legality means that the contract must not violate any laws or public policy. Capacity refers to the ability of the parties to enter into a binding agreement, such as being of legal age and sound mind.

Question 12

The element of a contract that states the parties must be adults of sound mind is consent.

Accepted Answer

The element that states the parties must be adults of sound mind is capacity, not consent. Consent refers to the agreement of both parties to enter into the contract.

Question 13

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

Accepted Answer

In the twelfth and thirteenth centuries, English judges developed the common law of contracts and established that promises were not binding unless they were written and sealed. This was known as the doctrine of consideration, which required a quid pro quo exchange between the parties in order to make a promise legally enforceable. It was not until later that the term "contract" became common and changes in the law occurred more rapidly.

Question 14

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

Accepted Answer

Paid surrogacy contracts are legal and recognized in several states in the United States, while they are either prohibited or have limited regulations in some others. The morality aspect of the issue is subjective and varies depending on cultural, religious, and ethical beliefs.

Question 15

What element of a contract refers to both parties receiving some measurable benefit?

Accepted Answer

Consideration is the element of a contract where both parties receive some measurable benefit. It is a fundamental principle of contract law, where both parties have to give something of value to each other (money, goods, services, etc.) for the contract to be legally binding. Capacity refers to the legal ability of a person to enter into a contract, consent refers to the agreement of both parties to the terms of the contract, and legality refers to the requirement that the contract's purpose and terms must be legal and not against public policy. However, only consideration refers specifically to both parties receiving some measurable benefit.

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 pertains to the sale of goods, which includes items such as fabric, automobiles, computers, furniture, and paper clips. Therefore, contracts for the sale of these items would be governed by Article 2 of the UCC.

Question 17

In a unilateral contract,one party makes a promise that the other party can accept only by actually doing something.

Accepted Answer

In a unilateral contract, one party (the offeror) makes a promise to another party (the offeree) that the offeree can accept only by actually performing a specific act or completing a specific task. The offeror is bound to fulfill their promise once the offeree completes the required action or task, creating a legally enforceable contract between the two parties.

Question 18

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 obligations under the contract and is therefore discharged from any further duties.

Question 19

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

Accepted Answer

Promissory estoppel is a legal doctrine that allows a party to enforce a promise, even if there is no enforceable contract present. This is typically used in situations where one party has relied on the promise of another and suffered damages as a result. Therefore, if promissory estoppel is being used, it indicates that there is not an enforceable contract present.

Question 20

One purpose of contract law is to determine which agreements are worthy of legal enforcement.

Accepted Answer

The purpose of contract law is to determine which agreements are legally enforceable and to provide remedies for breach of contract.

Quiz 11: Introduction to Contracts