True or False:

1. A 16 year old buys a motorcycle. A week later they wreck it, and bring it back to the seller demanding their money back. The seller must return the money.

2. An express contract has 10 items or less.

3. An oral contract to sell a house is voidable

4. Bob says to his son, 18-year-old Joe Jr, "If you agree not to drink tequila, I'll give you $500," and Joe Jr agrees. This is a valid contract.

5. Bob says to his son, 18-year-old Joe Jr, "If you agree not to smoke cigarettes, I'll give you $500," and Joe Jr agrees. This is a valid contract.

6. Bob says to his son, 18-year-old Joe Jr, "If you agree not to smoke weed, I'll give you $500," and Joe Jr agrees. This is a valid contract.

7. Consideration could be a mere $1 bill.

8. I say to you, "I could sell you my car for $10" And you reply "For $10 I'll buy it." You just bought a car.

9. If you enter into a contract with a 15 year old, you can void it.

10. If you sign a formal contract you have to wear a tuxedo

11. In a contract you can agree not to do something.

12. It is possible to enter into a contract without saying a word

13. Joe says to Bob, "I won't beat you up if you give me $200!" and Bob agrees. This is a void contract

14. Joe says to Steve, "I'll give you $10,000 to kill Bob!" and Steve promises. This is a bilateral contract

15. Not all contracts need to be in writing to be enforcable.

16. The four elements of a valid contract are offer, acceptance, consideration and legal purpose.

17. You accidentally paint my house instead of the one next door. Seeing what's happening, I tell you to do a good job. Later, when the bill comes I don't have to pay it.

18. You hire someone to paint your room for $500. They finish and you pay them. This contract is executed.

19. You offer to sell me some land for $1,000. I write a letter on Monday that I don't want it, this letter arrives Wednesday afternoon. On Wednesday morning I change my mind and send a letter saying I accept the offer. I have bought the property

20. Your friend looks sad, so you say, "if you smile, I'll give you $5." And they smile- you owe them $5.