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PART II: CONTRACTS.
Match the following:
a. A contract that binds an offeror to keep an offer open for a specified period of time.
b. Improper physical or mental coercion exercised upon a person so that he is forced to act against his free
will. c. Taking unfair advantage of a person by reason of a dominant position based on a relationship of
trust and
confidence.
d. A contract resulting from the exchange of a promise for an act or a
forbearance. e. A wrongful failure to properly perform contractual promises.
f. A contract that has not been fully performed.
g. A binding agreement that the courts will enforce.
h. A contract that has been fully performed by all of the
parties. i. A contract in which both parties exchange
promises.
j. Contingency not contained in the language of the contract but imposed by
law. k. Transfer of a contractual obligation to a third party.
l. A merchant’s irrevocable offer to sell or buy goods in a signed writing that gives assurance that it will not
be terminated for the time stated, up to three months.
m. A statement in the form of a promise that imposes no obligation on the person making the
statement. n. Affirmation of an entire contract; may be done upon reaching majority.
o. The inducement given to enter into a contract; whatever is given in exchange for something
else. p. A substituted contract involving a new third-party promisor or promisee.
q. An equitable remedy that compels the actual performance by the defaulting party of his
contractual obligations.
r. Voluntary transfer of contractual rights to a third party.
s. An obligation not based upon contract that is imposed to avoid
injustice. t. Withdrawal of an offer by the offeror.
u. Doctrine enforcing noncontractual promises in certain circumstances to avoid
injustice. v. A court order prohibiting a party from doing a specific act.
w. Approval based on whether a reasonable person would be satisfied.
x. An agreement to purchase all the materials of a particular kind that the purchaser needs from one
seller. y. An agreement to sell the entire production of a particular seller to one buyer.
1. contract
3. novation
4. assignment
5. promissory estoppel
ANSWER: u
6. quasi contract
7. executed contract
ANSWER: h
8. executory contract
9. bilateral contract
10. unilateral contract
11. delegation
POINTS: 1
12. option contract
13. firm offer
ANSWER: b
15. undue influence
POINTS: 1
16. constructive condition
17. ratification
18. consideration
19. output
contract
20. requirements contract
21. illusory
promise
22. revocation
23. objective satisfaction
24. specific performance
Code Section Matching:
a. A written contract may be explained or supplemented by course of dealing, usage of trade, course
of performance, or evidence of consistent additional terms unless the parties intended the writing to
be a complete and exclusive statement of their agreement.
b. "Good faith" means honesty in fact in the conduct or transaction concerned.
c. An offer to make a contract is construed as authorizing acceptance in any reasonable
manner. d. Variant acceptances; modification of “mirror image” rule.
e. Definition of a "merchant."
f. The common law of contracts applies where the Code has not specifically modified general contract
law. g. Unconscionable contracts.
h. The Article 2 statute of frauds.
i. Open terms; gap-filler provisions.
j. Firm offers.
k. Defines "sale."
26. 1-103
27. 1-201(19)
28. 2-104
29. 2-106
POINTS: 1
30. 2-201
31. 2-202
32. 2-204, 2-305, 2-308
33. 2-205
ANSWER: j
34. 2-206
35. 2-207
36. 2-302
ANSWER: g
