Blaw Exam 2 Practice Questions and Answers 100% correct
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Blaw Exam 2 Practice Questions and Answers 100% correct
Which of the following is NOT one of the required elements of a contract?
A. Agreement
B. Consideration
C. Capacity
D. Fairness
E. Legality
D
The Uniform Commercial Code is a body of statutory law that deals in part with certai...
Blaw Exam 2 Practice Questions and
Answers 100% correct
Which of the following is NOT one of the required elements of a contract?
A. Agreement
B. Consideration
C. Capacity
D. Fairness
E. Legality - answer D
The Uniform Commercial Code is a body of statutory law that deals in part with certain
forms of contracts. Which of
the following contracts would fall under the UCC (specifically, Article TWO of the UCC)?
A. Two year employment contract
B. Contract for sale of computer
C. Contract to mow a homeowner's lawn for the summer season
D. Health insurance policy
E. Contract to paint a house - answer B
Tom entered into a contract with Trusty Construction Company whereby Trusty was
going to build an addition to
Tom's office building. The contract called for a fixed price of $20,000, with construction
to begin on September 1 and
to finish on September 30. It is now September 15 and Trusty is about halfway done
with the job. As of September 15
this contract can best be classified as:
A. Bilateral and executory
B. Bilateral and executed
C. Unilateral and executory
D. Unilateral and executed
E. Quasi contract - answer A
Allen is considering making an offer to Baker to purchase Baker's house. Allen and
Baker had been discussing the
matter for several weeks, and finally Allen decided to make an offer to Baker. He typed
up the offer on his office
computer, printed it off, and put it on his desk expecting to give it to Baker later that day.
He then left for lunch.
Baker's office happened to be in the same building, and while Allen was at lunch Baker
wandered into Allen's office
, (which had been left open), saw the offer, and wrote "I accept, Baker" at the bottom of
the document. During lunch
Allen changed his mind and decided not to buy the house after all. Baker insists that he
already accepted Allen's offer,
and therefore a contract exists between the two parties. Is there a contract in this case?
A. Yes, as the offer was communicated as soon as Baker read the document
B. No, as there was no legal intent
C. No, as the offer was not re - answer D
On Monday, September 20, Elaine, the owner of a business that sells office equipment,
received a written offer from a
customer (Charles) whereby Charles (a doctor) offered to purchase a copy machine
from Elaine. The letter stated that
Charles would be willing to pay $500 for the copier. The letter also stated that the offer
would be held open only until
Friday, September 24 at noon. Which of the following is correct?
A. There is no offer in this case since Charles did not include a check for $500 at the
time the offer was made.
B. There is no offer in this case since Charles did not personally (face to face) deliver
the offer to Elaine.
C. There is a legal offer in this case, and Charles is obligated to hold the offer open for
the indicated time
D. There is a legal offer in this case, but Charles can revoke by simply deciding that he
no longer wants the copier
E. There is a legal offer in this case, but Charles can - answer E
Frank sent a letter to Gary (who lived in another state). The letter contained a legal offer
for a service contract. Gary
received the letter on Wednesday, September 22. On Thursday, September 23 Gary
decided that he wanted to accept
the offer. On Friday, September 24 Gary mailed a letter (properly addressed and
stamped) to Frank accepting the offer.
The letter was received by Frank on Monday, September 27. Under the general
common law a contract was formed on:
A. September 22
B. September 23
C. September 24
D. September 27
E. No contract was formed since Gary did not have the right to accept by using the
mails. - answer C
Which of the following is / are required elements of "consideration" under general
common law?
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