FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 9: Nature and Classification

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 21

Multiple Choice

Review LaterAdd Note

Review Later

Demi promises to buy a house from Caleb, who promises to vacate the property on June 1. If these promises are in writing, they are most likely

A) enforceable.
B) unenforceable.
C) void.
D) voidable.

E) A) and D)
F) None of the above

Correct Answer

verified

Show Answer

Question 22

True/False

Review LaterAdd Note

Review Later

The term consideration refers to the voluntary consent of all of the parties to a contract.

A) True
B) False

Correct Answer

verified

Show Answer

Question 23

True/False

Review LaterAdd Note

An executed contract is one that has been fully performed by both parties.

An express contract does not need to be in writing.

Tania promises to buy Saki's handheld video game-player for $40. Saki is

Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65. Ginger agrees. These parties have

A lottery is an example of an offer for an unilateral contract.

Some promises create moral, but not legal, obligations.

Cody signs and returns a letter from Dora, referring to her sale of the Bar-D Ranch and its price. When Cody attempts to complete the deal, Dora refuses, claiming that they have no contract. Cody claims they do. What standard determines whether these parties have a contract?

Cory believes that he and Dian agreed that he would act as her personal sports trainer for seven workout sessions. In a later dispute, the existence of any contract can be judged by

A quasi contract is not a true contract.

Peter offers to pay Quik Delivery (QD) $50 if it picks up and delivers to him a package of business documents from Rico within thirty minutes. QD can accept the offer only by meeting the deadline. If QD performs as directed, these parties will have

A contract can be executed on one side and executory on the other.

An offer to form a bilateral contract is accepted only by promising to perform the contract performance.

Lana applies for a firefighter's job with Metro City, which responds with a letter setting an appointment for a medical exam. The letter also states that it is "an employment offer conditioned on the applicant passing the exam." This letter is

Wilson buys a lottery ticket at his local gas station. Wilson has accepted an offer for a

Kathryn signs a lease agreement for an apartment. Kathryn has entered into a(n)

If a voidable contract is avoided, the parties to it are released from it.

If a contractual promise is not fulfilled, the person who made it may be required to perform the promised act.

Livewire Company and McCoy's Candy, Inc., sign a document that states Livewire agrees to design a Web page for McCoy's, which agrees to pay for the service. This is