5)

A contract is fully integrated if:

It is fully performed

It is in writing

It is in writing and is the final and complete agreement of the parties

It is in writing and is fully liquidateded.

6)

Contractual obligations can be assigned without the consent of the other party unless:

The contract says it cannot be assigned without consent.

Assigning the obligation would fundamentally change the obligations of the parties

the contract is personal in nature and depends on the skills of one of the parties.

All of the above.

7)

If Baxter assigns the same contract rights to more than one person then under the California rule the one who gets to take advantage of the assignment is:

The first person to give notice of the assignment

the first person to receive the assignment

the benefits of the assignment will be equally shared

all parties will forfeit any claim to the assignment

8)

Where a contract calls for illegal activity the Court will:

Impose the appropriate criminal penalty

Ignore the contract and leave the parties as they are

Order each party to forfeit to the Stae any consideration they received

Order payment under the contract so that the parties to the illegal contract share any losses equally

9)

California requires all real estate agents to pass and obtain a license. Mona does not have a license but sells a piece of property for Harry to Carol. Harry refuses to pay Mona her commission for selling the house. Mona sues Harry. What results?

Mona cannot collect her commission because she is unlicensed

Mona can collect her commission because the house already sold.

Mona cannot collect her commission unless she can show physical injury resulting from Harry's refusal to pay.

All of the above

10)

Contracts involving fraud or misrepresentation are:

Enforceable only if they are in writing

Void

Voidable by the other party

Valid

11)

Where one party takes advantage of a personal or fiduciary relationship in entering a contract, the contract may be voided based on:

Duress

Unconsconability

Undue Influence

Unilateral mistake

12)

An agreement that is lacking consideration:

Is void as against public policy

Is not enforceable and so impossible to perform

13)

Without consideration the non-breaching party to a contract can seek punitive damages from the other party for breach.

True

False

14)

Which of the following is something of legal value and so is consideration for a contract:

A promise to perform a service in the future

Payment of cash

Actual performance of a service

All of the above

15)

Gifts can always be taken back by the giver since there is no consideration to support the gift.

True

False

16)

A promise to make a gift

is just as enforceable as any other promise

is not enforceable unless there has been some promissory estoppel

may be enforced if the receipient is a child

Is enforceable only if it is in made in contemplation of death

17)

Which of the following constitutes legal consideration:

A promise to make a gift

A promise to pay for services

A promise prompted by a moral obligation

A promise based on a preexisting duty

18)

An agreement to settle an earlier contract where performance is in dispute is called a(n)

novation

illusory promise

accord and satisfaction

exercise of an option to cancel

19)

An exculpatory clause releasing a white water rafting company from liability for all injuries it causes:

Usually valid for ordinary negligence but not for intentional acts

Usually valid

Usually against public policy

illusory promise

20)

In California covenants not to compete in employment contracts are legal and enforceable as long as they are reasonable in their duration and geographic scope.

True

False

21)

Usury laws are concerned with

Taxes

Interest charged on personal loans

working conditions

environmental protection

22)

"Incorporation by reference" in a contract means that

Atleast one party to the contract is a corporation

The writtencontract has incorporated all aspects of the parties' agreement

No terms other than those written in the contract can be admtted as evidence in court

The written contract includes all or part of another document as part of the contract's terms.

23)

A "fully integrated agreement" is one where

At least one party to the contract is a corporation

The written contract has incorporated all aspects of the parties' agreement

No terms other than those written in the contract can be admtted in court.

The written contract includes all or part of another docment as part of the contract's terms.

24)

The parole evidence rule is:

At least one party to the contract is a corporation

The written contract has incorporated all aspects of the parties' agreement

No terms other than those in the written contract can be admitted as evidence in court

The written contract includes all or part of another document as part of the contract's terms.

25)

Tim uses a fake ID to make the seller of a guitar think he is an adult when he is only 16. After usining the guitar for a while Tim decides he wants his money back since he is still a minor. The seller refuses to return the money because Tim used a fake ID. In most states the seller will still have to return the money because:

Tim committed fraud by using a fake ID

Tim did not have the capcity to enter into a contract to purchase the guitar

The seller did have the capacity to enter into the contract

Tim exercised undue influence over the seller.

26)

I am not going to give Ralph's the money until they give me the milk but they won't give me the milk until I give them the money but I won't give them the money until they give me the milk but they will not give me the milk until I give them the money but I will not give them the money until they give me the milk ............. Is an example of what:

Condition precedent

Condition subsequent

Concurrent condition

A quasi contract

27)

Bob owns two motorcycle trailers worth $1,000 and $500 respectively. Janis agrees to buy "Bob's trailer" for $750. Bob believes in good faith that she is purchasing the $500 trailer for that price but Janis thinks she is buying the $1,000 trailer for the price. In this situation:

Bob is entitled to $750 for the $500 trailer because he is the seller

Jans is entitled to the $1,000 triler for $750 because she is the buyer.

Janis must buy both trailers for $1,500

Thereis no contract

28)

Bart is convicted of arson for burning down his warehouse to collect on the insurance. On an application for insurance on a new building, in answer to a question about prior convictions, Bar does not disclose his arson conviction. This makes the insurance contract

binding because the statement is immaterial to the decision of the insurance compan to offer insurance coverage

binding due to the failure of the insurance company to discover Bart's conviction

29)

In selling software to A-One Corporation, Blythe tells A-One's purchasing agent that the software is "almost human". This is an example of:

puffery

duress

fraud

undue influence

voidble on the part of the insurance company because the false statement is material to the decision to issue a policy

30)

Paul makes an honest but erroneous statement that misrepresents a material fact in negotiating a contract with Quinn. When Quinn learns the truth, Quinn can void the contract because of Quinn's

nonfraudulent misrepresentation

unilateral mistake

fraud

pre-existing duty

Voidable at the option of Bart because the question is immterial to the decision to issue coverage

31)

Alan, who is Beth's guardian, convince her to buy a certain parcel of land from Chris at a greatly inflated price. Beth can likely get out of the contract because of Alan's

duress

fraud

puffery

undue influence

32)

Gary threatens physical harm to force Hugh to sell his business to Gary for a below market price. This is an

Fraud

Puffery

Undue Influence

33)

Raymond contracted to purchase a turbo-charged diesel pick-up truck from Ben. After the contract was signed both parties realized that the truck was not turbo charged. Can Raymond cancel the contract? Which of the following is the most accurate answer?

Yes because both parties were mistaken about the truck being turbo charged

Yes because both parties were mistaken about the truck provided the fact that the truck was turbo-charged material fact

No because Raymond should have conducted n inspection of the vehicle to determine whether it was turbo-charged

No because whether or not the diesel engine was turbo-charged could not be a material fact

34)

Pete offered Liz a job at his new law firm. In anticipation Liz quit her job at Mega Firm, bought a new computer and legal software. Shortly before her anticipated start date with Pete's law firm, Pete informed Liz that he had change his mind and no longer was offering her a job. If Liz sues, she may recover from Pete under t concept of:

Unust enrichment

Promissory estoppel

Unilateral contract

Express contract