Exam (elaborations)
Blaw Exam 2 Practice Questions with Accurate Answers
- Course
- Institution
Blaw Exam 2 Practice Questions with Accurate Answers
[Show more]
Seller
Follow
Victorious23
Reviews received
Content preview
Blaw Exam 2 Practice Questions withAccurate Answers
Which of the following is NOT one of the required elements of a contract?
A. Agreement
B. Consideration
C. Capacity
D. Fairness
E. Legality - - D
- The Uniform Commercial Code is a body of statutory law that deals in part
with certain forms of contracts. Which of
the following contracts would fall under the UCC (specifically, Article TWO of
the UCC)?
A. Two year employment contract
B. Contract for sale of computer
C. Contract to mow a homeowner's lawn for the summer season
D. Health insurance policy
E. Contract to paint a house - - B
- Tom entered into a contract with Trusty Construction Company whereby
Trusty was going to build an addition to
Tom's office building. The contract called for a fixed price of $20,000, with
construction to begin on September 1 and
to finish on September 30. It is now September 15 and Trusty is about
halfway done with the job. As of September 15
this contract can best be classified as:
A. Bilateral and executory
B. Bilateral and executed
C. Unilateral and executory
D. Unilateral and executed
E. Quasi contract - - A
- Allen is considering making an offer to Baker to purchase Baker's house.
Allen and Baker had been discussing the
matter for several weeks, and finally Allen decided to make an offer to Baker.
He typed up the offer on his office
computer, printed it off, and put it on his desk expecting to give it to Baker
later that day. He then left for lunch.
Baker's office happened to be in the same building, and while Allen was at
lunch Baker wandered into Allen's office
, (which had been left open), saw the offer, and wrote "I accept, Baker" at the
bottom of the document. During lunch
Allen changed his mind and decided not to buy the house after all. Baker
insists that he already accepted Allen's offer,
and therefore a contract exists between the two parties. Is there a contract
in this case?
A. Yes, as the offer was communicated as soon as Baker read the document
B. No, as there was no legal intent
C. No, as the offer was not re - - D
- On Monday, September 20, Elaine, the owner of a business that sells office
equipment, received a written offer from a
customer (Charles) whereby Charles (a doctor) offered to purchase a copy
machine from Elaine. The letter stated that
Charles would be willing to pay $500 for the copier. The letter also stated
that the offer would be held open only until
Friday, September 24 at noon. Which of the following is correct?
A. There is no offer in this case since Charles did not include a check for
$500 at the time the offer was made.
B. There is no offer in this case since Charles did not personally (face to face)
deliver the offer to Elaine.
C. There is a legal offer in this case, and Charles is obligated to hold the offer
open for the indicated time
D. There is a legal offer in this case, but Charles can revoke by simply
deciding that he no longer wants the copier
E. There is a legal offer in this case, but Charles can - - E
- Frank sent a letter to Gary (who lived in another state). The letter
contained a legal offer for a service contract. Gary
received the letter on Wednesday, September 22. On Thursday, September
23 Gary decided that he wanted to accept
the offer. On Friday, September 24 Gary mailed a letter (properly addressed
and stamped) to Frank accepting the offer.
The letter was received by Frank on Monday, September 27. Under the
general common law a contract was formed on:
A. September 22
B. September 23
C. September 24
D. September 27
E. No contract was formed since Gary did not have the right to accept by
using the mails. - - C
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now