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BLAW Exam 2 Questions and Correct Answers
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BLAW Exam 2 Questions and Correct Answers
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BLAW Exam 2T/F A breach of contract law suit is a civil action and not a criminal action. - Answer -True (civil law
includes torts and contracts)
T/F A contract must involve two or more parties. - Answer -True
T/F The components of a contract include consideration AND fairness. - Answer -False - Fairness is NOT
part of the contractual components / requirements.
T/F If O'Brien promises to give a car to his son on his son's birthday, then that promise is an enforceable
contractual commitment. - Answer -False - A promise to make a gift is not accompanied by
consideration and is thus not enforceable
T/F Contracts must be in writing to be enforceable. - Answer -False - An oral contract may be
enforceable unless the Statute of Frauds requires a writing.
T/F O'Brien promises Donald that he will pay Donald $500 if Donald paints O'Brien's garage. This is an
example of a unilateral contract. - Answer -True - a promise for an action is a unilateral contract, while a
promise for a promise is a bi-lateral contract.
, T/F O'Brien promises to pay Claire $350 for her bicycle. Claire delivers her bicycle and O'Brien pays Claire
$350. This is an executory contract. - Answer -False - Executory means that the contract has not been
fully performed. Here the contract is fully performed and is thus called an 'executed' contract.
T/F Agreement can be accomplished by an action rather than a statement that the offeree accepts. -
Answer -True - an offeree can accept by stating that she accepts, but . . . . she can also accept by an
action.
T/F Consideration may include forbearance. - Answer -True - As we saw in Hammer v. Sidway,
consideration can include forbearance.
T/F Consideration does NOT have to be fair. - Answer -TRUE
T/F An offeree can terminate an offer by revocation. - Answer -False - To terminate an offer, an offeree
rejects, an offeror revokes.
Tom offers to sell his business to Brady for $5.5 million. Brady responds 'no that is too much, but I will
pay $5.2 million. Brady's response . . . - Answer -is a counteroffer
If a student offered to pay O'Brien $50 to arrive at class on time and O'Brien accepted and then showed
up on time. . . . - Answer -the student would not have to pay O'Brien because of O'Brien's pre-existing
duty to do his job.
T/F A contract made by a minor is void. - Answer -False - A minor that enters into a contract creates a
voidable contract, not a void agreement. This means that the minor my typically disaffirm the contract
and recover her consideration (payment).
T/F A party who is intoxicated may, nevertheless, agree to perform a contract formed during the state of
intoxication. - Answer -True - a party who is intoxicated can disaffirm OR ratify and if she ratifies then
she performs the underlying agreement.
T/F Contracts to perform services where the worker is to be paid more than $500 are governed by the
statute of frauds. - Answer -False - Service contracts are not required to be in writing because they
exceed $500; that is the rule for the sale of goods.
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