The standard for determining the parties intent when entering into a contract is looks at a persons state of mind to determine what a person was thinking is which of the following:

a. What the person was actually thinking at the time (subjective standard)

b. What a reasonable person in a similar situation would believe the parties intent to be (reasonable person standard)

c. What the two parties agree they were thinking at the time (mutual agreement)

d. How similar cases were treated in the past to determine intent (past precedent)

2. True/False: Every contract must be in writing to be enforceable.

Trure: _____ False: _____

A third-party beneficiary receiving a benefit under a contract that is unintentional is generally called:

a. Unintended Beneficiary

b. Accidental Beneficiary

c. Correlated Beneficiary

d. Incidental Beneficiary

27. A condition that must be fulfilled before performance is required is called a:

a. Concurrent Condition

b. Express Condition

c. Implied Condition

d. Condition Subsequent

e. Condition Precedent

28. True/False: When a party fulfills his or her contract obligations in good faith with substantial performance (but has not fully-performed), the other party is NOT held to his or her obligation to perform because other party has not fully-performed.

True: _____ False: _____