Section II$.$ SHORT RESPONSES $($Max$.15$ Points$)$

This section consists of four short answer questions each worth a maximum of four $(4)$ points, unless otherwise indicated. Total points for this Section equal fifteen.

A$.$ Identify four $(4)$ required elements of a legally valid, enforceable Contract.

B$.$ Identify three types of agreements that the Statute of Frauds requires a signed writing for.

C$.$ Identify two circumstances in which an agreement might be "voidable."

D$.$ Identify three types of equitable remedies that are available under contract law that may be ordered when money damages are inadequate. $(3$ points$)$

Section III. MULTIPLE CHOICE. $($Max$.20$ Points$)$

This section contains $10$ multiple choice questions. Choose the response for each question that is most accurate and write its corresponding letter in the space provided. Each correct response in this section is worth two $(2)$ points.

$1.$

Which of the following IS a legally binding offer?

A$.$ Bill tells his adult softball team that he will pay $$50$ to the first player to cut his lawn.

B$.$ A store mails its customers a circular that advises of this week's sale items.

C$.$ Walmart advertises that the first $50$ customers to arrive at its new store for its Grand Opening will be entitled to purchase one of only fifty $50"$ big screen TVs for $$50.$

D$.$ All of the above are considered to be legally binding offers.

E$.$ Only A & C above are legally binding offers.