Contract law is significant in that it is basic to other fields of law such as:

	a.	sales of personal property.
	b.	commercial paper.
	c.	secured transactions.
	d.	All of these.

The court in the Weichert Co. Realtors v. Ryan case held that the performing party was entitled to recoup the reasonable value of the services rendered under:

	a.	Article 2 of the UCC.
	b.	quantum meruit.
	c.	promissory estoppel.
	d.	an express contract.

An obligation imposed by law where there has been no agreement or expression of assent by word or act on the part of either party involved is a(n):

	a.	express contract.
	b.	implied in fact contract.
	c.	quasi contract.
	d.	void contract.

Stan sends for a law school catalog from Ivory Towers University. According to the catalog, the law school applications are evaluated on the basis of undergraduate grades, standardized test scores, and references. Stan, who is a straight-A student, has high test scores and excellent references, applies and pays the $100 application fee. His application is rejected. Later he finds out that others with low grades and test scores were accepted based on their family connections and donations made to the University. If Stan followed all of the guidelines in the college catalog and paid the required application fee, then according to the court in Steinberg v. Chicago Medical School:

	a.	there is a valid contract; the school bound itself to honor the obligations set forth in the college catalog.
	b.	there is not a contract.
	c.	there is a voidable contract.
	d.	there is a quasi contract.