Question $15$ pts

Contracts are legally enforceable promises that, if breached, result in compensable damages.

Group of answer choices

True

False

Flag question: Question $2$

Question $25$ pts

Parties may enter into a contract for any agreement providing the subject matter of the agreement is legal and the agreement will be enforceable.

Group of answer choices

True

False

Flag question: Question $3$

Question $35$ pts

Choose all of the elements of a contract:

Group of answer choices

consideration

offer

acceptance

Be in writing

Flag question: Question $4$

Question $45$ pts

Under the common law the acceptance must be a mirror image $($no changes$)$ of the offer.

Group of answer choices

True

False

Flag question: Question $5$

Question $55$ pts

An acceptance under the UCC may not always have identical terms as the offer.

Group of answer choices

True

False

Flag question: Question $6$

Question $65$ pts

Chose all of the following types of contracts that must be in writing and signed by the defendant to be enforceable:

Group of answer choices

Sale of Goods over $$500\mathrm{.}00$

interest in land

Contracts that can not be performed by the terms of the contract within one year of the date of the agreement.

promise to pay debt of another

Flag question: Question $7$

Question $75$ pts

A person under age $18,$ can enter into a contract if they have the means to complete the contract.

Group of answer choices

True

False

Flag question: Question $8$

Question $85$ pts

All adults of sound mind have the capacity to enter into a contract.

Group of answer choices

True

False

Flag question: Question $9$

Question $95$ pts

In a service contract, such as building a house, any deviation from the contract will relieve the homeowner from having to pay the builder.

Group of answer choices

True

False

Flag question: Question $10$

Question $105$ pts

One remedy for a breach of contract is money damages.

Group of answer choices

True

False

Flag question: Question $11$

Question $115$ pts

Mistake is never a defense to a contract.

Group of answer choices

True

False

Flag question: Question $12$

Question $125$ pts

An offer may be revoked by the offeror at anytime.

Group of answer choices

True

False

Flag question: Question $13$

Question $135$ pts

A counter offer $($change in terms$)$ acts as a rejection of the offer and may be seen as a counter offer $($new offer$).$

Group of answer choices

True

False

Flag question: Question $14$

Question $145$ pts

If I agree to purchase drugs from you and I do not pay, that would be a breach of contract and you could sue me in court.

Group of answer choices

True

False

Flag question: Question $15$

Question $155$ pts

If a baker notifies you that he will not deliver the bread for your restaurant. You must try to find bread even if it costs more money, or your damages may be reduced or denied in a lawsuit.

Group of answer choices

True

False

Flag question: Question $16$

Question $165$ pts

Specific performance is a remedy available in a personal service contract. $($You could make a singer perform because you have a contract, or make an employee work for the term of the contract.$)$

Group of answer choices

True

False

Flag question: Question $17$

Question $175$ pts

UCC $2-204$: even if terms of are undetermined, a contract may still exist.

Open Terms: $$Indefiniteness$$ is OK as long as the parties intended to make a contract and there is a reasonable basis for a court to grant a remedy.

Group of answer choices

True

False

Flag question: Question $18$

Question $185$ pts

Under the UCC, shipment of nonconforming goods is both an acceptance and a breach unless goods sent as an $$accommodation$$ to buyer.

Group of answer choices

True

False

Flag question: Question $19$

Question $195$ pts

Under the UCC, risk of loss is always with the seller until the goods are received by the buyer.

Group of answer choices

True

False

Flag question: Question $20$

Question $205$ pts

If you had a contract for your wedding cake and the baker breached the contract and failed to deliver the cake, you can sue for emotional distress damages.

Group of answer choices

True

False