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1.
(p. 306)
The term "consideration" in relation to contracts involves parties acting in an ethical
manner.
2.
(p. 310)
The Restatement (Second) of the Law of Contracts is not actually the law itself.
3.
(p. 311)
Whether a contract is bilateral or unilateral depends upon what response the offeror
expects from the offeree.
4.
(p. 312)
Today, courts hold that once an offeree begins performance on a unilateral contract, the
offeror must hold the offer open for a reasonable time to allow the offeree to complete the
performance.
5.
(p. 314)
Quasi-contracts are actual contracts.
6.
(p. 314)
If a quasi-contract is imposed, the amount of damages for a breach is based upon the fair
market value of any service provided to the defendant.
7.
(p. 314)
In order to recover under quasi-contract, there is no requirement that enrichment be
unjust.
8.
(p. 316)
If a contract is valid, then it is enforceable.
9.
(p. 317)
Any contract that is not a formal contract is an informal contract, also called a simple
contract.
10.
(p. 306)
In the employer/employee context, the purpose of a covenant not to compete is to
restrict what an employee may do after leaving a company.
11.
(p. 308)
Congress passed the Uniform Electronic Transactions Act (UETA).
12.
(p. 308)
A person who is intoxicated when signing a contract may not avoid the contract based on
being intoxicated because being intoxicated is a voluntary condition.
13.
(p. 317)
Which of the following is true regarding the type of marriage contract discussed in the
text called the
muta'a
?
14.
(p. 315)
Which of the following was the result on appeal in
Reisenfeld
& Co. v. The Network Group
Inc.; Builders Square Inc.; Kmart Corp.
, the case in the text involving whether the plaintiff could
recover from BSI in the situation in which BSI contracted with Network Group to lease property,
and Network Group contracted with the plaintiff agreeing to pay a certain commission for his
work but then defaulted on the contract?
15.
(p. 321)
Which of the following was the result in the Case Opener in which Hallmark claimed that
an arbitration ruling against a former employee should be upheld?
16.
(p. 306)
A[n] ___________ is a promise or set of promises for the breach of which the law gives a
remedy or the performance of which the law in some way recognizes a duty.
17.
(p. 306)
Which of the following consists of an offer by one party and an acceptance of the terms
by another party?
18.
(p. 306)
The person who makes an offer is called a[n] ___________.
19.
(p. 306)
The person who agrees to the terms of an offer made by the other party is called the
_________.
20.
(p. 306)
Which of the following is a definition for consideration?
21.
(p. 308)
Which of the following represents the legal ability to enter into a binding agreement?
22.
(p. 308)
Which of the following references the requirement that a contract not be either illegal or
against public policy?
23.
(p. 308)
Which of the following may represent a lack of genuine assent?
24.
(p. 309)
An attorney who says that a contract lacks "the proper form" is typically referencing
which of the following?
25.
(p. 309)
Contract law is said to be based on a[n] ___________ theory, meaning that the existence
and interpretation of the contract is based on the outward manifestations of intent by the
parties.
26.
(p. 309)
As a general rule, the ________ intent of the parties is not relevant when determining
whether a contract exists; rather, what is relevant is how they represented their intent through
their actions and words.
27.
(p. 309)
If a[n] _____________ misunderstanding between the parties exists, and as a result of that
misunderstanding the parties do not really come to a meeting of the minds, there is no contract.
