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BLAW EXAM 2 FRY LSU
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BLAW EXAM 2 FRY LSUThe Uniform Commercial Code would be applied in which of the following
situations? - - A contract to buy living room furniture
- Lee has been declared incompetent by the court and is under the care of
his sister. Without his sister's knowledge, Lee rents the 30,000-seat civic
center for his birthday party. Lee's contract to rent the civic center is best
described as a: - - void contract
- A contract in which both parties exchange promises is a: - - bilateral
contract
- Caroline signs a contract to work as a sales rep for Incellmed Corporation
for a period of two years. This contract is governed by: - - state common law
- Contract law - - today usually recognizes contractual obligations whenever
the parties manifest an intent to be bound
- Any property other than an interest in real property is: - - personal
property
- Contracts are governed primarily by: - - state common law
- Promissory estoppel is a contractual doctrine that includes the following
considerations: - - -The courts use the doctrine of promissory estoppel to
enforce non-contractual promises
-Under this doctrine the promisor reasonably expects that the promisee, in
reliance on the promise, will be induced by the nature of the promise to take
action or refrain from taking action and the promisee does so.
- Article 2 of the Uniform Commercial Code deals with what type of
property? - - Personal
- Steven intentionally makes a material misrepresentation of fact regarding
his motorcycle to Thelma who agrees to buy the motorcycle based upon the
misrepresentation. This contract is: - - voidable
- Brian makes a material misrepresentation of fact regarding his horse to
Rosalind while out riding one day. Later that day, Rosalind makes an offer to
buy the horse. Brain accepts without correcting his earlier misrepresentation
of fact: - - Rosalind may avoid the contract
- Tate enters into a contract with Smith under the terms of which Smith is to
pay Tate $7,000 and Tate is to build a garage, repair a boat, and build a
,doghouse. If the doghouse has not yet been built, which term describes the
type of contract in existence? - - Executory contract
- Which of the following is correct with regard to a contract? - - A person
who deposits money in a bank account has entered into a contract with the
bank
- According to the UCC, an enforceable agreement involving the transfer of
title of goods from a seller to a buyer for a price is called a(n): - - sale
- Which of the following contracts is covered by Article 2 of the Uniform
Commercial Code? - - the sale of a new car
- Contract law is significant in that it is basic to other fields of law such as: -
- -sales of personal property.
-commercial paper.
-secured transactions.
- Contracts that are implied in law: - - -are obligations imposed by law on
grounds of justice and equity.
-are intended to prevent unjust enrichment.
-do not rest upon the assent of the contracting parties.
- A person who makes a promise is a(n): - - promisor
- Express contracts and implied contracts are: - - -both genuine contracts.
-equally enforceable.
- A(n) ____ contract is one in which the parties have manifested their
agreement by oral or written language, or both. - - express
- Which of the following is NOT always necessary in order for a valid contract
to be formed? - - a writing
- Sarah offers to pay Allison $150 if Allison will paint her apartment while
she is out of town on vacation for two weeks. Allison makes no promise but
tells Sarah that she will think about it. While Sarah is out of town, Allison
paints the apartment. This is best described as a(n): - - unilateral contract
- According to the Restatement, manifesting an intention to act or an
intention to refrain from acting in a specified manner is considered to be: - -
a promise
- One of the changes in contract law between the nineteenth century and
the twentieth century is that in more recent times: - - intended third-party
beneficiaries may sue in their own right.
, - Which of the following is not generally required in order to have a valid
contract? - - Fairness of the bargain
- An obligation imposed by law where there has been no agreement or
expression of assent by word or act on the part of either party involved is
a(n): - - quasi contract
- Abe is involved in an automobile accident and is injured. While he is
unconscious, the police call an ambulance which takes him to a hospital. Abe
is treated at the hospital and released a day later. The hospital sends him a
bill for $2,400, which Abe refuses to pay, claiming it is too high and he never
consented to the treatment because he was unconscious. - - This is a quasi-
contractual agreement
- Ken promises not to foreclose on a mortgage that he holds on an office
complex that Christopher owns. In reliance on this promise, Christopher
expends $200,000 to remodel the complex. Which of the following is correct
with regard to Ken's promise? - - -Ken's promise not to foreclose is
unsupported by consideration.
-Ken's promise is non-contractual.
-Ken's promise will be enforced against him based upon the doctrine of
promissory estoppel.
- A valid contract may be unenforceable for which reason(s)? - - -Failure to
satisfy the Statute of Frauds
-Running of the Statute of Limitations
- Anna by mistake delivers to Bob a plain, unaddressed envelope containing
$50 intended for Cora - - Bob's obligation to return the money is quasi
contractual.
- Sales of personal property are governed by Article ____ of the Uniform
Commercial Code (UCC) - - 2
- A promise against public policy: - - has no legal remedy available for
breach
- Which of the following is an informal contract? - - A written contract for the
sale of a 5-acre tract of land.
- Promissory estoppel is found in Section ____ of the Restatement (Second)
of Contracts. - - 90
- An agreement of a seller to supply a buyer with all of the buyer's
requirements for certain goods is known as: - - a requirements contract.
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