Question 1

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 2

What are the two most common settings for legitimate non-compete agreements?

Accepted Answer

A)  real estate purchase and employment relationship
B)  sale of a business and real estate purchase
C)  real estate purchase and insurance purchase
D)  sale of a business and employment relationshipE) All of the above
F) A) and C)

Question 3

A contract may violate public policy even if the agreement does not violate a statute.

Accepted Answer

A) True 
 B)False

Question 4

The Uniform Commercial Code provides that, under certain circumstances, a merchant may be liable on a written contract, even though that merchant has NOT signed it.

Accepted Answer

A) True 
 B)False

Question 5

List the types of agreements that are within the Statute of Frauds and explain the consequences if the parties do not comply with the requirements of the Statute of Frauds.

Accepted Answer

Agreements requiring a writing within th...

Question 6

Roger parked his car at a garage that has a large sign at the entrance saying, "This garage is not liable for items stolen from a car." This type of notice is referred to as an exculpatory clause.

Accepted Answer

A) True 
 B)False

Question 7

Marty, a 16-year-old, contracts with Cream-of-the-Crop Cycles to buy an $8,000 motorcycle. Marty agrees to make monthly payments until the purchase price plus interest is paid in full. Which of the following is correct?

Accepted Answer

A)  The contract is voidable by Marty.
B)  The contract is void as soon as it is made.
C)  The contract is voidable by Cream-of-the-Crop Cycles.
D)  The contract is voidable by either Marty or Cream-of-the-Crop Cycles.E) A) and B)
F) A) and C)

Question 8

A party to a contract has a duty to investigate the other party's factual statements.

Accepted Answer

A) True 
 B)False

Question 9

Brahma entered into an oral agreement to sell 50 jet skis to Summer Sports. Brahma delivered 20 of the skis on May 1. On June 1, Summer Sports notified Brahma that it would not honor the agreement. Which statement is correct?

Accepted Answer

A)  The contract is void since it was oral.
B)  The contract is enforceable for 20 jet skis.
C)  The contract is enforceable for the 50 jet skis.
D)  The contract is obsolete.E) B) and C)
F) None of the above

Question 10

Peter, a minor, purchased a car from ACME Motors. Using a fake ID, he misrepresented his age to be 18. The contract is fully executed. Which of the following is correct?

Accepted Answer

A)  Peter cannot disaffirm the contract because a car is a necessary.
B)  Peter cannot disaffirm the contract because of his misrepresentation.
C)  Peter can disaffirm the contract, because a minor must be saved from his own poor judgment, including his lie.
D)  Either b or c may be applicable depending on the law of the jurisdiction in which the contract was formed.E) None of the above
F) A) and B)

Question 11

Bry, Inc. and Gangl Co. entered into an oral agreement for the sale of 3,000 sweaters. Both parties performed as required under the contract. Bry delivered the sweaters, and Gangl accepted and paid for them. Since the contract is fully executed, it makes no difference that it was an oral agreement.

Accepted Answer

A) True 
 B)False

Question 12

Under the Statute of Frauds, the writing must: be signed by the defendant; and must state with reasonable certainty the name of each party, the subject matter of the agreement, and all of the essential terms and promises.

Accepted Answer

A) True 
 B)False

Question 13

When one person agrees to pay the debt of another as a favor to that debtor, it is called

Accepted Answer

A)  promissory representation.
B)  a mutual promise.
C)  promissory estoppel.
D)  a collateral promise.E) All of the above
F) A) and C)

Question 14

The Tavern's secret recipe for its pizza sauce would be considered

Accepted Answer

A)  a trade secret, and an employment non-compete clause would be enforceable to protect it.
B)  a trade secret, but an employment non-compete clause would NOT be enforceable to protect it.
C)  just a secret recipe and not something the Tavern could protect in a non-compete clause.
D)  an exculpatory clause and not enforceable.E) B) and C)
F) A) and B)

Question 15

Which of the following would suffice for a signature on a writing under the Statute of Frauds?

Accepted Answer

A)  a stamped signature
B)  a handwritten signature
C)  a name keyed at the bottom of an e-mail
D)  Any of these would suffice. Judges define "signature" very broadly.E) C) and D)
F) B) and D)

Question 16

Sweet Plantation, Inc. made a written contract with Candy, Inc. whereby Sweet Plantation agreed to supply all of Candy's sugar requirements for the next year at $.25 per pound. A dispute arose as to how much sugar Sweet is to supply. The parol evidence rule will bar Sweet's introduction of evidence concerning the intent of the requirements of Candy.

Accepted Answer

A) True 
 B)False

Question 17

If a salesperson says, "This is a great car and it's really fun to drive," but the car turns out to be a lemon, the salesperson has committed fraud.

Accepted Answer

A) True 
 B)False

Question 18

An example of the type of relationship required to find undue influence would be

Accepted Answer

A)  a salesperson-purchaser relationship.
B)  a bartender-customer relationship.
C)  a doctor-patient relationship.
D)  a neighbor-neighbor relationship.E) All of the above
F) A) and D)

Question 19

Many states will not accept an e-signature on

Accepted Answer

A)  a will.
B)  a foreclosure notice.
C)  a court order.
D)  All of these are correct.E) All of the above
F) A) and B)

Question 20

In contract law, capacity is best defined as

Accepted Answer

A)  a benefit which must be bargained for between the parties.
B)  one person's compliance with the offer made by another.
C)  a promise in exchange for performance by another party.
D)  the legal ability of a party to enter into a contract.E) A) and C)
F) All of the above

Exam 11: Legality, Consent, and Writing

Correct Answer
verified

Under the Statute of Frauds, the writing must: be signed by the defendant; and must state with reasonable certainty the name of each party, the subject matter of the agreement, and all of the essential terms and promises.

Correct Answer
verified

Many states will not accept an e-signature on

Correct Answer
verified

If a salesperson says, "This is a great car and it's really fun to drive," but the car turns out to be a lemon, the salesperson has committed fraud.

Correct Answer
verified

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

Correct Answer
verified

Marty, a 16-year-old, contracts with Cream-of-the-Crop Cycles to buy an $8,000 motorcycle. Marty agrees to make monthly payments until the purchase price plus interest is paid in full. Which of the following is correct?

Correct Answer
verified

What are the two most common settings for legitimate non-compete agreements?

Correct Answer
verified

A contract may violate public policy even if the agreement does not violate a statute.

Correct Answer
verified

The Uniform Commercial Code provides that, under certain circumstances, a merchant may be liable on a written contract, even though that merchant has NOT signed it.

Correct Answer
verified

Bry, Inc. and Gangl Co. entered into an oral agreement for the sale of 3,000 sweaters. Both parties performed as required under the contract. Bry delivered the sweaters, and Gangl accepted and paid for them. Since the contract is fully executed, it makes no difference that it was an oral agreement.

Correct Answer
verified

List the types of agreements that are within the Statute of Frauds and explain the consequences if the parties do not comply with the requirements of the Statute of Frauds.

Correct Answer
verified
Agreements requiring a writing within th...
View Answer

In contract law, capacity is best defined as

Correct Answer
verified

An example of the type of relationship required to find undue influence would be

Correct Answer
verified

Brahma entered into an oral agreement to sell 50 jet skis to Summer Sports. Brahma delivered 20 of the skis on May 1. On June 1, Summer Sports notified Brahma that it would not honor the agreement. Which statement is correct?

Correct Answer
verified

Peter, a minor, purchased a car from ACME Motors. Using a fake ID, he misrepresented his age to be 18. The contract is fully executed. Which of the following is correct?

Correct Answer
verified

Roger parked his car at a garage that has a large sign at the entrance saying, "This garage is not liable for items stolen from a car." This type of notice is referred to as an exculpatory clause.

Correct Answer
verified

Which of the following would suffice for a signature on a writing under the Statute of Frauds?

Correct Answer
verified

The Tavern's secret recipe for its pizza sauce would be considered

Correct Answer
verified

A party to a contract has a duty to investigate the other party's factual statements.

Correct Answer
verified

When one person agrees to pay the debt of another as a favor to that debtor, it is called

Correct Answer
verified

Exam 11: Legality, Consent, and Writing

Correct AnswerverifiedShow Answer

Under the Statute of Frauds, the writing must: be signed by the defendant; and must state with reasonable certainty the name of each party, the subject matter of the agreement, and all of the essential terms and promises.

Correct AnswerverifiedShow Answer

Many states will not accept an e-signature on

Correct AnswerverifiedShow Answer

If a salesperson says, "This is a great car and it's really fun to drive," but the car turns out to be a lemon, the salesperson has committed fraud.

Correct AnswerverifiedShow Answer

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

Correct AnswerverifiedShow Answer

Marty, a 16-year-old, contracts with Cream-of-the-Crop Cycles to buy an $8,000 motorcycle. Marty agrees to make monthly payments until the purchase price plus interest is paid in full. Which of the following is correct?

Correct AnswerverifiedShow Answer

What are the two most common settings for legitimate non-compete agreements?

Correct AnswerverifiedShow Answer

A contract may violate public policy even if the agreement does not violate a statute.

Correct AnswerverifiedShow Answer

The Uniform Commercial Code provides that, under certain circumstances, a merchant may be liable on a written contract, even though that merchant has NOT signed it.

Correct AnswerverifiedShow Answer

Bry, Inc. and Gangl Co. entered into an oral agreement for the sale of 3,000 sweaters. Both parties performed as required under the contract. Bry delivered the sweaters, and Gangl accepted and paid for them. Since the contract is fully executed, it makes no difference that it was an oral agreement.

Correct AnswerverifiedShow Answer

List the types of agreements that are within the Statute of Frauds and explain the consequences if the parties do not comply with the requirements of the Statute of Frauds.

Correct AnswerverifiedAgreements requiring a writing within th...View AnswerShow Answer

In contract law, capacity is best defined as

Correct AnswerverifiedShow Answer

An example of the type of relationship required to find undue influence would be

Correct AnswerverifiedShow Answer

Brahma entered into an oral agreement to sell 50 jet skis to Summer Sports. Brahma delivered 20 of the skis on May 1. On June 1, Summer Sports notified Brahma that it would not honor the agreement. Which statement is correct?

Correct AnswerverifiedShow Answer

Peter, a minor, purchased a car from ACME Motors. Using a fake ID, he misrepresented his age to be 18. The contract is fully executed. Which of the following is correct?

Correct AnswerverifiedShow Answer

Roger parked his car at a garage that has a large sign at the entrance saying, "This garage is not liable for items stolen from a car." This type of notice is referred to as an exculpatory clause.

Correct AnswerverifiedShow Answer

Which of the following would suffice for a signature on a writing under the Statute of Frauds?

Correct AnswerverifiedShow Answer

The Tavern's secret recipe for its pizza sauce would be considered

Correct AnswerverifiedShow Answer

A party to a contract has a duty to investigate the other party's factual statements.

Correct AnswerverifiedShow Answer

When one person agrees to pay the debt of another as a favor to that debtor, it is called

Correct AnswerverifiedShow Answer

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verified
Agreements requiring a writing within th...
View Answer

Correct Answer
verified

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Correct Answer
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Correct Answer
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Correct Answer
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