Question 1

Informal contracts include all contracts other than formal contracts.

Accepted Answer

A) True 
 B)False

Question 2

A promise is a declaration that something will or will not happen in the future.

Accepted Answer

A) True 
 B)False

Question 3

Informal contracts are usually based on their sub-stance rather than their form.

Accepted Answer

A) True 
 B)False

Question 4

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​

Accepted Answer

A)   ​an express contract. 
B)   ​an implied contract. 
C)   ​a quasi contract. 
D)   ​no  contract.

Question 5

In contract law,intent is determined by the objective theory of contracts.

Accepted Answer

A) True 
 B)False

Question 6

In an express contract,the terms are fully and explicitly stated in words.

Accepted Answer

A) True 
 B)False

Question 7

Omar asserts that a deal he entered into with Patty to sponsor and host a motivational conference for independent sales representatives is an unenforceable contract.Defenses to the enforcement of a contract include​

Accepted Answer

A)   ​a desire not to perform. 
B)   ​insufficient capital. 
C)   ​preliminary indications of unsatisfactory results. 
D)   ​the lack of a party's voluntary consent.

Question 8

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​

Accepted Answer

A)   ​a bilateral contract. 
B)   ​a unilateral contract. 
C)   ​a void contract. 
D)   ​an unenforceable contract.

Question 9

Contract law assures the parties to private agreements that the promises they make will be enforceable.

Accepted Answer

A) True 
 B)False

Question 10

A quasi contract is a fictional contract.

Accepted Answer

A) True 
 B)False

Question 11

Jonathon promises to pay child support and alimony to his ex-wife every month after their divorce.Jonathon has​

Accepted Answer

A)   ​only a moral obligation to do keep his promise. 
B)   ​only a legal obligation to keep his promise. 
C)   ​both a legal and a moral obligation to keep his promise. 
D)   ​no obligation to keep his promise.

Question 12

A bilateral contract comes into existence at the moment promises are exchanged.

Accepted Answer

A) True 
 B)False

Exam 9: Introduction to Contracts

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

Correct Answer
verified

Contract law assures the parties to private agreements that the promises they make will be enforceable.

Correct Answer
verified

Informal contracts include all contracts other than formal contracts.

Correct Answer
verified

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

Correct Answer
verified

A promise is a declaration that something will or will not happen in the future.

Correct Answer
verified

Jonathon promises to pay child support and alimony to his ex-wife every month after their divorce.Jonathon has

Correct Answer
verified

A quasi contract is a fictional contract.

Correct Answer
verified

Omar asserts that a deal he entered into with Patty to sponsor and host a motivational conference for independent sales representatives is an unenforceable contract.Defenses to the enforcement of a contract include

Correct Answer
verified

A bilateral contract comes into existence at the moment promises are exchanged.

Correct Answer
verified

In an express contract,the terms are fully and explicitly stated in words.

Correct Answer
verified

Informal contracts are usually based on their sub-stance rather than their form.

Correct Answer
verified

In contract law,intent is determined by the objective theory of contracts.

Correct Answer
verified

Exam 9: Introduction to Contracts

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​

Correct AnswerverifiedShow Answer

Contract law assures the parties to private agreements that the promises they make will be enforceable.

Correct AnswerverifiedShow Answer

Informal contracts include all contracts other than formal contracts.

Correct AnswerverifiedShow Answer

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​

Correct AnswerverifiedShow Answer

A promise is a declaration that something will or will not happen in the future.

Correct AnswerverifiedShow Answer

Jonathon promises to pay child support and alimony to his ex-wife every month after their divorce.Jonathon has​

Correct AnswerverifiedShow Answer

A quasi contract is a fictional contract.

Correct AnswerverifiedShow Answer

Omar asserts that a deal he entered into with Patty to sponsor and host a motivational conference for independent sales representatives is an unenforceable contract.Defenses to the enforcement of a contract include​

Correct AnswerverifiedShow Answer

A bilateral contract comes into existence at the moment promises are exchanged.

Correct AnswerverifiedShow Answer

In an express contract,the terms are fully and explicitly stated in words.

Correct AnswerverifiedShow Answer

Informal contracts are usually based on their sub-stance rather than their form.

Correct AnswerverifiedShow Answer

In contract law,intent is determined by the objective theory of contracts.

Correct AnswerverifiedShow Answer

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Jonathon promises to pay child support and alimony to his ex-wife every month after their divorce.Jonathon has

Correct Answer
verified

Correct Answer
verified

Omar asserts that a deal he entered into with Patty to sponsor and host a motivational conference for independent sales representatives is an unenforceable contract.Defenses to the enforcement of a contract include

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified