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BLAW EXAM 2 FRY LSU questions well answered
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BLAW EXAM 2 FRY LSU questions well answered
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Voorbeeld 3 van de 22 pagina's
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BLAW EXAM 2 FRY LSUThe Uniform Commercial Code would be applied in which of the following situations? - correct answer
✔✔A contract to buy living room furniture
Lee has been declared incompetent by the court and is under the care of his sister. Without his sister's
knowledge, Lee rents the 30,000-seat civic center for his birthday party. Lee's contract to rent the civic
center is best described as a: - correct answer ✔✔void contract
A contract in which both parties exchange promises is a: - correct answer ✔✔bilateral contract
Caroline signs a contract to work as a sales rep for Incellmed Corporation for a period of two years. This
contract is governed by: - correct answer ✔✔state common law
Contract law - correct answer ✔✔today usually recognizes contractual obligations whenever the parties
manifest an intent to be bound
Any property other than an interest in real property is: - correct answer ✔✔personal property
Contracts are governed primarily by: - correct answer ✔✔state common law
Promissory estoppel is a contractual doctrine that includes the following considerations: - correct answer
✔✔-The courts use the doctrine of promissory estoppel to enforce non-contractual promises
-Under this doctrine the promisor reasonably expects that the promisee, in reliance on the promise, will
be induced by the nature of the promise to take action or refrain from taking action and the promisee
does so.
Article 2 of the Uniform Commercial Code deals with what type of property? - correct answer
✔✔Personal
,Steven intentionally makes a material misrepresentation of fact regarding his motorcycle to Thelma who
agrees to buy the motorcycle based upon the misrepresentation. This contract is: - correct answer
✔✔voidable
Brian makes a material misrepresentation of fact regarding his horse to Rosalind while out riding one
day. Later that day, Rosalind makes an offer to buy the horse. Brain accepts without correcting his earlier
misrepresentation of fact: - correct answer ✔✔Rosalind may avoid the contract
Tate enters into a contract with Smith under the terms of which Smith is to pay Tate $7,000 and Tate is to
build a garage, repair a boat, and build a doghouse. If the doghouse has not yet been built, which term
describes the type of contract in existence? - correct answer ✔✔Executory contract
Which of the following is correct with regard to a contract? - correct answer ✔✔A person who deposits
money in a bank account has entered into a contract with the bank
According to the UCC, an enforceable agreement involving the transfer of title of goods from a seller to a
buyer for a price is called a(n): - correct answer ✔✔sale
Which of the following contracts is covered by Article 2 of the Uniform Commercial Code? - correct
answer ✔✔the sale of a new car
Contract law is significant in that it is basic to other fields of law such as: - correct answer ✔✔-sales of
personal property.
-commercial paper.
-secured transactions.
Contracts that are implied in law: - correct answer ✔✔-are obligations imposed by law on grounds of
justice and equity.
-are intended to prevent unjust enrichment.
-do not rest upon the assent of the contracting parties.
A person who makes a promise is a(n): - correct answer ✔✔promisor
, Express contracts and implied contracts are: - correct answer ✔✔-both genuine contracts.
-equally enforceable.
A(n) ____ contract is one in which the parties have manifested their agreement by oral or written
language, or both. - correct answer ✔✔express
Which of the following is NOT always necessary in order for a valid contract to be formed? - correct
answer ✔✔a writing
Sarah offers to pay Allison $150 if Allison will paint her apartment while she is out of town on vacation
for two weeks. Allison makes no promise but tells Sarah that she will think about it. While Sarah is out of
town, Allison paints the apartment. This is best described as a(n): - correct answer ✔✔unilateral contract
According to the Restatement, manifesting an intention to act or an intention to refrain from acting in a
specified manner is considered to be: - correct answer ✔✔a promise
One of the changes in contract law between the nineteenth century and the twentieth century is that in
more recent times: - correct answer ✔✔intended third-party beneficiaries may sue in their own right.
Which of the following is not generally required in order to have a valid contract? - correct answer
✔✔Fairness of the bargain
An obligation imposed by law where there has been no agreement or expression of assent by word or
act on the part of either party involved is a(n): - correct answer ✔✔quasi contract
Abe is involved in an automobile accident and is injured. While he is unconscious, the police call an
ambulance which takes him to a hospital. Abe is treated at the hospital and released a day later. The
hospital sends him a bill for $2,400, which Abe refuses to pay, claiming it is too high and he never
consented to the treatment because he was unconscious. - correct answer ✔✔This is a quasi-contractual
agreement
Ken promises not to foreclose on a mortgage that he holds on an office complex that Christopher owns.
In reliance on this promise, Christopher expends $200,000 to remodel the complex. Which of the
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