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BUL 5810 Exam 3 Questions & 100% Correct Answers
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Most contracts are governed primarily by State ___________ ______, including contracts involving employment, services, insurance, real property (land and anything attached to it), patents, and copyrights. ~~> common law Article 2 of the UCC governs the: ~~> sale of goods "Sale" is...

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  • September 12, 2024
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • most contracts are governed primarily by state
  • bul 5810 exam 3 questions 100 correct answers

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1 | P a g e | © copyright 2024/2025 | Grade A+




BUL 5810 Exam 3 Questions & 100%
Correct Answers
Most contracts are governed primarily by State ___________ ______, including

contracts involving employment, services, insurance, real property (land and

anything attached to it), patents, and copyrights.

✓ ~~> common law




Article 2 of the UCC governs the:

✓ ~~> sale of goods




"Sale" is defined as:

✓ ~~> the transfer of title from seller to buyer.




Goods are defined as:

✓ ~~> tangible personal property (personal property is all property

other than an interest in land)




International Contracts involve additional issues beyond those in domestic

contracts, such as:

✓ ~~> differences in language, legal systems, and currency.




Master01 | September, 2024/2025 | Latest update

, 2 | P a g e | © copyright 2024/2025 | Grade A+



T or F: The United Nations Convention on Contracts for the International Sales

of Goods (CISG) governs all contracts for international sales of goods

between parties located in different nations that have ratified the CISG.

✓ ~~> True




What is a contract?

✓ ~~> A binding agreement that the courts will enforce.




Failure to perform a contractual obligation properly is known as a:

✓ ~~> breach




The parties to a contract must manifest by words or conduct that they have

agreed to enter into a contract; this is known as:

✓ ~~> Mutual Assent




Each party to a contract must intentionally exchange a legal benefit or incur

a legal detriment as an inducement to the other party to make a return

exchange; this is according to the principle of:

✓ ~~> consideration.




Master01 | September, 2024/2025 | Latest update

, 3 | P a g e | © copyright 2024/2025 | Grade A+



T or F: The purpose of a contract may be criminal, tortious, or otherwise

against public policy.

✓ ~~> False




The parties to a contract must have contractual ________________.

✓ ~~> capacity




An express contract is:

✓ ~~> an agreement that is stated in words, either orally or in writing.




An implied (in fact) contract is:

✓ ~~> a contract in which the agreement of the parties is inferred from

their conduct.




A contract in which both parties exchange promises is called a:

✓ ~~> bilateral contract




A contract in which only one party makes a promise, and that promise is

exchanged for an act or a forbearance to act, is called a:

✓ ~~> unilateral contract




Master01 | September, 2024/2025 | Latest update

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