BUL 3310 Actual EXAM with 100% Correct Solutions to Questions
1 view 0 purchase
Course
BUL 3310
Institution
BUL 3310
When classifying contracts according to their state of performance, a contract that has
been fully performed on both sides is a(n):
a. executed contract.
b. valid contract.
c. void contract.
d. executory contract. - Answer a. executed contract
BUL 3310 Actual EXAM with 100% Correct
Solutions to Questions
When classifying contracts according to their state of performance, a contract that has
been fully performed on both sides is a(n):
a. executed contract.
b. valid contract.
c. void contract.
d. executory contract. - Answer a. executed contract
Larry and Leah have a disagreement as to whether they have formed a contract, and a
lawsuit is filed. What will the court look to in determining whether a contract was
formed?
a. Both Larry's and Leah's beliefs
b. Leah's intent
c. Larry's intent
d. The reasonable person standard - Answer d. The reasonable person standard
Tracy owns a 2012 Toyota Camry that has been driven 24,000 miles and, to her
knowledge, has no mechanical problems. She offers to sell the car to her friend Tami for
$12,000. Tami accepts Tracy's offer. Tracy and Tami have:
a. an agreement.
b. an understanding.
c. no agreement.
,d. an agreement to agree. - Answer a. an agreement.
Jessica offers to pay Kevin $50 for his used business law textbook. Kevin agrees to sell it
for that amount. They agree to meet one week later to exchange the money for the
book. Kevin and Jessica have formed:
a. an implied contract.
b. no contract.
c. an express contract.
d. a quasi contract. - Answer c. an express contract.
Pam's car was hit while it was parked. Pam calls A-1 Towing, tells the dispatcher about
the problem, and gives her location. Pam never discusses a price and leaves before the
tow truck arrives, so she does not talk with the driver nor sign any documents. Pam:
a. owes the company for towing her car under an implied contract.
b. owes the company for towing her car under an express contract.
c. does not owe the company for towing her car, because she did not know that she
would have to pay.
d. does not owe the company for towing her car, because she did not have a chance to
reject its services. - Answer a. owes the company for towing her car under an implied
contract.
Whitney pulls her car into her favorite gasoline filling station and tells the attendant to
fill her tank. The attendant asks Whitney what octane level she wants, and she tells him,
,"regular." The attendant properly fills her tank. At this point, the contract between the
station and Whitney is:
a. void.
b. unenforceable.
c. executed.
d. executory. - Answer d. executory.
Cindy offers to pay Johnny's way through college if he will give her one of his kidneys in
return. Johnny is a perfect donor match and accepts Cindy's offer, signing a contract.
Their contract is:
a. executed.
b. voidable.
c. void.
d. formal. - Answer c. void.
MobileFon enters into a cell phone contract with Allison, who is a freshman in high
school. This contract is likely:
a. voidable.
b. unenforceable.
c. void.
d. valid. - Answer a. voidable.
Li and Carlo have a disagreement as to whether they have formed a contract, and a
lawsuit is filed. Carlo argues that he never accepted the terms of the offer made by Li.
, According to Carlo's position, what element is lacking that would support the contention
that no contract was formed?
a. Agreement
b. Capacity
c. Consideration
d. Legality - Answer a. Agreement
A-One Supermarket has agreed to use NatureMarket farms as its sole provider for
melons for a three-month period. At the end of one month into the contract,
NatureMarket has delivered eight shipments of melons, for which A-One has paid in full
upon receipt. At this point, the contract is:
a. void.
b. executed.
c. unenforceable.
d. executory. - Answer d. executory.
Steve is going away for three months and wants to rent his apartment to Jeff while he is
away. They agree on terms and shake hands on the deal. Their township has a
regulation stating that all housing rental agreements must be in writing. As a result,
their contract is:
a. executed.
b. void.
c. unenforceable.
d. voidable. - Answer c. unenforceable.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
