Question 11 pts

Contract elements include

a mutual assent

b consideration

c capacity

d legality

e all of the above

Group of answer choices

a

b

c

d

e

Flag question: Question 2Question 21 pts

Mutual assent is

a offer and acceptance

b consideration and capacity

c a and b

d none of the above

Group of answer choices

a

b

c

d

Flag question: Question 3Question 31 pts

If the parties to a contract have agreed to break the law the contract is

a voidable

b unenforceable

c unlawful

d all of the above

Group of answer choices

a

b

c

d

Flag question: Question 4Question 41 pts

The bargained -for exchange on a contract is the promise for the promise or the promise for the act or the act for the act and is called

a offer

b acceptance

c consideration

d capacity

Group of answer choices

a

b

c

d

Flag question: Question 5Question 51 pts

Some promises will be enforced as contracts where the offeree relied on a material promise and changed his position to his detriment.

Group of answer choices

True

False

Flag question: Question 6Question 61 pts

Jack offered to buy Jane's skateboard for $30. She responded, "$40." And Jack said, "OK."

Assuming each has capacity to enter into a contract, they have made a contract.

Group of answer choices

True

False

Flag question: Question 7Question 71 pts

When Jane responded, "$40" in the prior question, her response constituted both a rejection of Jack's offer and a counter-offer.

Group of answer choices

True

False

Flag question: Question 8Question 81 pts

Minors reaching 18 can ratify or disaffirm the contracts they have.

Group of answer choices

True

False

Flag question: Question 9Question 91 pts

A minor in the military cannot be held accountable for the contracts she makes.

Group of answer choices

True

False

Flag question: Question 10Question 101 pts

Remedies for the breach of a contract can be legal (money damages) or equitable (rescission, restitution, reformation, injunction or specific performance). A judge or jury can determine the amount of legal damages (money) but only a judge can fashion an equitable remedy.

Group of answer choices

True

False

Flag question: Question 11Question 111 pts

Fraud can be material misrepresentation, concealment, constructive fraud, negligent misrepresentation or any other scheme or artifice intended to deceive. Fraud in the formation of a contract, where one party is deceiving the other, is grounds for a court to void or refuse to enforce the contract.

Group of answer choices

True

False

Flag question: Question 12Question 121 pts

A building contractor finishes construction of a high rise but the plumbing is not the quality called for in the contract. A court would find that the contractor did not fully perform his duties under the contract, but substantially performed, making the plumbing a minor breach, His payment should be reduced by the difference between the value of the building with the plumbing installed compared to the value of the building if the plumbing called for in the contract had been installed.

Group of answer choices

True

False

Flag question: Question 13Question 131 pts

Contracting parties assume rights and duties they did not previously have.

Group of answer choices

True

False

Flag question: Question 14Question 141 pts

A contract is unenforceable and voidable by the court if it was formed throughmistake,fraud,suppression of a material fact,duress,undue influence, or ifthe contract itself is so one-sided as to be unconscionable and adhesive.

Group of answer choices

True

False

Flag question: Question 15Question 151 pts

Performance under a contract, to avoid breach, must be at the time stated in the contract or if no time is stated within a reasonable time depending on the circumstances.

Group of answer choices

True

False

Flag question: Question 16Question 161 pts

Full performances discharge the contract.

Group of answer choices

True

False