1) A free-market system cannot operate effectively and fairly without a reliable foundation in __________. a. contract law b. government regulation c. equality of consideration d. equity

2) Which of the following is correct regarding the applicability of the Uniform Commercial Code (UCC) if a contract involves both goods and services? a. Since a portion of the contract involves services, the Uniform Commercial Code (UCC) will automatically not apply. b. In determining whether the UCC applies, the court will evaluate whether the dominant purpose of the contract is to provide a service or to sell a good. c. In determining whether the UCC applies, the court will apply the supermajority rule, and if over 2/3rds of the contracts purpose involves the provision of goods, the court will apply the UCC. d. The UCC will apply, since Article 2 of the UCC applies to contracts for the sale of goods, and Article 2A applies to contracts for the provision of services.

3) Agreements that are so thoroughly one-sided that fairness precludes enforcing them are known as __________ contracts. a. void b. unconscionable c. voidable d. quasi- 4) Chai is the owner of Were IT Solutions, Inc. (Were IT), an information technology firm. Were IT needs the services of a temporary security officer, and Chai asks a security agency to send someone. The agency sends one of its reserve security officers to guard Were ITs commercial building. Which of the following types of contracts does Chai (on behalf of Were IT) enter into with the security agency? a. A voidable contract b. An implied-in-fact contract c. A quasi-contract d. A void contract