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Exam 9: Introduction to Contracts

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Question 21

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Ron says to Mark, "If you design and landscape my front lawn by the time I return from Paris next month, I will pay you $5,000." Mark does not respond but has the landscaping done by the time Ron returns. This is an example of a unilateral contract.

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Question 22

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"I promise to pay you $100 if you will promise to fix my car next month." This is an offer for a unilateral contract.

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Question 23

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The court in the Weichert Co. Realtors v. Ryan case held that the performing party was entitled to recoup the reasonable value of the services rendered under:

During the twentieth century it became easier to enter into a contract as well as to get out of one.

Sarah offers to pay Allison $150 if Allison will paint her apartment while she is out of town on vacation for two weeks. Allison makes no promise but tells Sarah that she will think about it. While Sarah is out of town, Allison paints the apartment. This is best described as:

George has been declared incompetent by the court and is under the care of his sister. Unknown to his sister, George rents the 10,000-seat civic center for his birthday party. George's contract to rent the civic center is best described as:

The concept of consideration in contract law includes:

The Uniform Commercial Code applies only to sales of goods by manufacturing firms who ship goods to buyers interstate.

A contract is a binding agreement that the courts will enforce.

What is the doctrine of promissory estoppel, and when is it used?

If a person who has been declared incompetent by the courts enters into an agreement, that agreement is void, because it does not meet all the requirements of a binding contract.

A quasi contract is another name for an oral contract.

James offers to sell his fishing boat to Brenda for $3,000. Brenda says she will apply for a loan and will buy the boat within a week. A contract is formed:

General contract law governs all contracts outside the scope of the UCC.

Brian makes a material misrepresentation of fact regarding his horse to Rosalind while out riding one day. Later that day, Rosalind makes an offer to buy the horse which Brian accepts, without correcting his earlier misrepresentation of fact. In this case:

The doctrine of promissory estoppel:

The difference between an express contract and an implied in fact contract is the manner in which the parties manifest assent.

In order to be legally binding, a contract must be in writing.

Matt says to Lynn, "If you will mow my lawn, I will give you $20." Lynn replies, "O.K." Under these facts, each party is a promisor and each party is a promisee.

The Weichert Co. Realtors v. Ryan case found that the parties formed an express contract by mutually manifesting assent to the essential terms.