True or false

____________1. Past consideration will support a new contract.

____________2. Chris tells his girlfriend Julie he will stop drinking and driving if Julie pays him one hundred dollars per month. She agrees. There is a consideration to allow enforcement of this contract.

____________3. Under the mailbox rule, acceptance is effective upon receipt of the acceptance.

____________4. An executed contract is one that has been fully performed on both sides.

____________5. A contract may exist without consideration.

____________6. Contracts for the necessities of life are exempt from then infancy doctrine.

____________7. Contracts made while an individual was not legally sane can be disaffirmed.

____________8. A material fact is one that is not very significant to the subject matter of the contract.

____________9. An ambiguity happens when a word or term in a contract has only one meaning.

____________10. Predictions or opinions about the future do not qualify as misrepresentations of fact.

____________11. Parol evidence may be allowed to explain an ambiguity.

____________12. If there is a typographical error in a contract, the court may allow parol evidence to prove this, and may reform then contract.

___________13. An assignee usually takes more rights than the assignor originally had.

___________14.The personal satisfaction test is subjective and dependent on the whim of the person making the determination.