qs Flashcards
Ethan believes that he and Fiorina agreed that he would find the best location for a well on her ranch and then dig the well. In a later dispute, whether a contract was formed can be determined by
a- the parties’ statements at the time of their alleged contract.
b-what Ethan claims was the parties’ intent.
c-what Fiorina claims was the parties’ intent.
d-what the parties agree they intended.
a- the parties’ statements at the time of their alleged contract.
Jonah tells Levi he will give him an Xbox if Levi does Jonah’s chores for a month. Levi promises to do the chores. Jonah and Levi have formed a
a. a bilateral contract.
b. a formal contract.
c. a unilateral contract.
d. no contract.
a. a bilateral contract.
Cellphones & Calltime, Inc., makes an offer to Delores to enter into a contract to work as a salesperson for a certain base salary plus commission for ninety days subject to a one-year renewal based on her performance. Delores accepts the offer. A valid contract requires
a. a price and a subject.
b. a duration and termination provision.
c. an offer and an acceptance.
d. specific quality standards.
c. an offer and an acceptance.
Fabien offers to sell his Graphic Signs, LLC, business to Hana for $100,000. Hana replies, “The price is too high. I will buy it for $75,000.” Hana has
a. accepted the offer.
b. made a counteroffer without rejecting the offer.
c. rejected the offer and made a counteroffer.
d. rejected the offer without making a counteroffer.
c. rejected the offer and made a counteroffer.
On Monday, O’Shea tells Patterson that she will pay Patterson $1,000 if O-Shea’s bill processing and office filing are completed by Friday. On Wednesday, when Patterson has finished more than half of the work, O’Shea says that she has changed his mind. Under the modern-day view, these parties had
a. an expired contract when O’Shea said that she changed her mind.
b. a bilateral contract when O’Shea offered to pay for the work.
c. a unilateral contract as soon as Patterson began to perform.
d. no contract.
c. a unilateral contract as soon as Patterson began to perform.
Lamar offers to pay Melanie $150 for a hot-air balloon ride for Nina. They agree to meet at dawn the next day to exchange the cash for the ride. At this point, these parties have
a. a bilateral contract.
b. a trilateral contract.
c. a unilateral contract.
d. no contract.
a. a bilateral contract.
Bruce, a minor, enters into a contract with Coralee to buy her car. Later, Bruce opts to avoid the deal. With respect to the contract, this releases
a. both parties.
b. neither party.
c. only Bruce.
d. only Coralee.
a. both parties.
Vita asks Walter, a cobbler and shoe salesperson, to repair a pair of work boots. There is no discussion of a price, and Vita and Walter do not sign any documents. After the repair, Walter hands Vita a bill. With respect to Vita’s obligation to pay the bill, this is
a. an express contract.
b. an implied contract.
c. a unilateral contract.
d. no contract.
b. an implied contract.
Signe offers to sell Thomas her textbook but conditions the sale on Thomas accepting the offer by March 1. Signe may revoke the offer
a. before Thomas accepts the offer.
b. before March 1, whether or not Thomas has accepted the offer.
c. only after Thomas accepts the offer.
d. only after March 1.
a. before Thomas accepts the offer.
Iggy tells Jade, “I might sell the snowboard that I bought this winter since I haven’t used it and the season is almost over.” This is
a. an acceptance of an offer.
b. a preliminary negotiation.
c. an offer.
d. a statement of future intent.
d. a statement of future intent.
Deluxe Awnings, Inc., offers Elbert a job as an installer. No time for acceptance is specified in the offer. The offer will terminate
a. after a reasonable period of time.
b. after a typical workweek (five business days).
c. after a usual month (thirty calendar days).
d. never.
a. after a reasonable period of time.
Sonya and Taylor enter into an oral contract that is required to be in writing to be enforceable. Such a contract is normally
a. voidable by a party who does not wish to follow through with it.
b. void.
c. valid.
d. voidable but only by consent of both parties
a. voidable by a party who does not wish to follow through with it. (maybe b?) (CHECK W PROF)
Under a contract with Bucolic Farms, Agro Excavation, Inc., begins digging an agricultural pond. In mid-project, Agro asks for $15,000 over the contract price, claiming an increase in the “cost of doing business.” Bucolic agrees but later refuses to pay. Their agreement is
a. unenforceable because Agro’s performance was a preexisting duty.
b. unenforceable because Bucolic’s promise was illusory.
c. enforceable.
d. unenforceable because its performance is unforeseeably difficult.
a. unenforceable because Agro’s performance was a preexisting duty.
Jolie signs a contract with Keaton, an unlicensed physician, to perform a medical procedure. This contract is enforceable by
a. Jolie.
b. Jolie’s medical insurance company.
c. Keaton.
d. no one.
d. no one.
Odina signs a covenant not to compete with her employer, Penultimate Sales Corporation. A court decides that the covenant is overly restrictive. Depending on the jurisdiction, the court will likely
a. enforce it as written so as not to undercut the freedom of contract.
b. enforce it but evaluate its effects over time.
c. reform its terms to prevent any undue burden.
d. refuse to enforce it unless Penultimate pays a fine to the court.
c. reform its terms to prevent any undue burden.
Genovese Contracting, Inc., agrees to build a warehouse for Hawthorne Wholesale Distributors. When Genovese runs into the types of difficulties that contractors ordinarily confront, Hawthorne agrees to pay extra compensation to overcome them. Regarding the agreement to pay more, a court would likely
a. enforce it.
b. rescind it.
c. order the parties to renegotiate it.
d. not enforce it.
d. not enforce it.
Henry promises not to open his Hank’s Lunchbox Café before 10:00 A.M. if Isis, who owns Isis’s Danish & Donuts next door, promises to close by 4:00 P.M. Henry’s consideration is
a. the destruction of a legal relationship.
b. the creation of a legal relationship.
c. a forbearance.
d. an exchange of money.
c. a forbearance.
Esmeralda promises to pay Fiorello $400 because “he does not have as much money as other people.” Esmeralda’s promise is not enforceable because
a. society does not want gifts cheapened by making them legally enforceable.
b. the redistribution of wealth on a one-to-one basis is not a valid social goal.
c. Esmeralda could have paid more.
d. Fiorello has not given consideration in return.
d. Fiorello has not given consideration in return.
Garth owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respectively. Helen agrees to buy “Garth’s ATV” for $750. Garth believes, in good faith, that he is selling the $500 ATV. Helen believes, in good faith, that she is buying the $1,000 ATV. In this situation
a. Garth is entitled to $750 for the $500 ATV.
b. Helen is entitled to the $1,000 ATV for $750.
c. Helen must buy both ATVs for $1,500.
d. there is no contract.
d. there is no contract.
Nora enters into a contract with Oceanic Transport, Inc., to insure and ship a painting from France to the United States for a certain price. But Oceanic makes a mistake in adding the costs, which results in a contract price that is $1,000 less than the true cost. Most likely, a court would
a. allow the parties to rescind the contract.
b. award damages to Nora for the mistake.
c. award damages to Oceanic for the mistake.
d. enforce the contract as is.
a. allow the parties to rescind the contract.
Byron agrees to sell to Charity, for $1,500, a remote parcel of land. They believe the land to be worthless, but beneath it is a gold mine. Byron can
a. not rescind the contract.
b. rescind the contract on the basis of fraud.
c. rescind the contract on the basis of mistake.
d. rescind the contract on the basis of undue influence.
a. not rescind the contract. (mistake of value)
Kari, a real estate agent, assures Linc that a certain parcel of commercial property fronts on the most highly trafficked street in Metro City. Linc buys the property and then discovers that the street has no more traffic than any other in its vicinity. Linc is most likely a victim of
a. opinion.
b. fraud.
c. mistake.
d. nothing.
b. fraud.
Mona is induced by her guardian Newt to sign a contract to invest her student loan funds in Overseas Bank through Newt’s investment firm. Unknown to Mona, Newt realizes ongoing commissions from the investment. Most likely, Mona may
a. not rescind the contract.
b. rescind the contract on the basis of undue influence.
c. rescind the contract on the basis of mistake.
d. rescind the contract on the basis of unconscionability.
b. rescind the contract on the basis of undue influence.
Drake enters into a contract with Eve, who claims to have access to a stock-trading algorithm that will multiply an investment many times over. When the results do not match this promise, Drake learns that Eve does not have access to any unique software and files a suit against her, alleging fraud. Proof of an injury is required to
a. recover damages.
b. rescind the contract.
c. undo Eve’s influence.
d. punish the defendant.
a. recover damages.
Illya owes Jenny $1,000. In a separate deal, Kasey owes Illya $1,000. Illya unconditionally assigns his rights in the deal with Kasey to Jenny. Illya’s right to the $1,000 is then
a. unchanged.
b. extinguished.
c. incidental.
d. assigned to a court.
b. extinguished.
Herb’s Hot Dog Vending, Inc., enters into a contract to pay Idris for a business survey and review of Herb’s competitors, which Idris delivers on August 1. Herb’s offer, on the same date, to pay Idris is is
a. a concurrent condition.
b. a novation.
c. tender.
d. mutual rescission.
c. tender.
Even-Bilt Construction contracts to build a warehouse for Discount E-Sales Company. Even-Bilt completely performs. Discount E-Sales is entitled to
a. damages.
b. nothing more.
c. to be excused from performance.
d. suspend performance.
b. nothing more.
Treadwell Tire Manufacturing Company employs Uri as an agent. To terminate Uri’s authority, Treadwell must notify
A) only third parties who are aware of the agency relationship.
B) the public generally.
C) Uri and any third parties who are aware of the agency relationship.
D) Uri only.
C) Uri and any third parties who are aware of the agency
Frida hires Gert, a real estate broker, to act as her agent to sell her house. The house burns tion down before being sold. The agency agreement is likely
a.still in force if Frida gives Gert additional consideration.
b. still in force if Gert does not tell prospective customers.
c.terminated by mutual consent of the parties
d. terminated by operation of law
d. terminated by operation of law
