14. A small monetary award (often $1) granted to a plaintiff when no actual damage was suffered. Often the lawsuit was filed for principal.

a. Punitive damages b. Nominal damages c. Compensatory damages d. Incidential damages

15. A contract made by a minor, intoxicated person, a person who is incompetent or under undue influence are __________________ by the minor, intoxicated person, a person who is incompetent or under undue influence unless the contract is for necessities.

a. Voidable b. Void c. Binding d. Enforcable

16. The acceptance, or affirmation of a legal obligation, like what a minor does to a contract after she turns 18 and does not disaffirm the contract. _________________

a. Ratify b. Deny c. Valid d. Sufficient

17.Taking an intentional unfair advantage of a weaker person in a contract, the weaker person may be able to void the contract claiming the contract was ____________________________.

a. Illegal b. Unconscionable c. Illusory d. Valid

19. When someone tells you that they are going to breach the contract (anticipatory breach) you must wait for them to actually breach the contract before you can sue them.

True False

20. A person who fraudulently misrepresents facts of a contract through a misstatement of fact, concealment or non disclosure, which are intentionally made AND justifiably relied on by the other party are voidable by the other party.

True False

21. In a contract when there is a discrepancy between a number written in words (one hundred dollars) or written in numbers ($1000.00), the court will likely allow Parol evidence (evidence outside the 4 corner's of the contract) to clarify the intent of the parties.

True False

22. Punitive Damages is a legal principle that a promise is enforceable by law, even if made without consideration, when a promisor has made a promise to a promisee who then relies on that promise to his subsequent detriment.

True False

23. An equitable remedy that seeks to order the breaching party to stop doing something such as building a fence on your property or a violation of a covenant not to compete is called Injunction.

True False

27. Specific Performance is an equitable remedy that calls for the performance of the act promised in the contract, usually pertaining to things such as sale of real estate, rare articles of personal property or things that the value is not readily determined.

True False

33. if you make a contract with a a minor, intoxicated person, a person who is incompetent or under undue influence, the contract can be enforced against you but not the a minor, intoxicated person, a person who is incompetent or under undue influence. (assume you are competent)

True False