exam2 Flashcards
Typically, parties reach mutual assent to contract using a combination of invitations to negotiate and counteroffers.
false
If a hybrid contract is predominantly for services and the sale of goods is merely incidental, the contract is governed by ________
common law
Which of the following factors will a court most likely examine to determine which source of law governs a hybrid contract for goods and services?
The value of goods versus the value of services
Which of the following is true regarding contracts with minors?
If a minor enters a contract, it is voidable at the minor’s option.
A contract is _____blank when all of the necessary elements for a valid contract have been met but one party asserts a legal defense to performance.
unenforceable
An express contract is one in which the agreement is reached by the parties’ actions rather than their words.
false
A nominal amount of money, even as little as one dollar, is sufficient consideration to form a valid contract. This is true even if the other party’s consideration is much more valuable.
true
A contract is _____blank when the law gives one or more parties the right to cancel an otherwise valid contract under the circumstances.
voidable
Contracts are enforceable agreements between parties.
true
Marianna offered to pay Stefan $175 each week to clean her house for the next six months. Stefan responded that he was available to clean Marianna’s house for the next six months for $200 perweek. Stefan’s statement is an acceptance of Marianna’s offer.
false
