UHD BA 3301 Final Review || All Questions Answered Correctly.
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Course
UHD BA 3301
Institution
UHD BA 3301
A legal defense renders a contract unenforceable, even though it has the necessary elements of a valid contract. T/F correct answers True
Ally, a minor, purchases a car from a used-car dealer. The law allows minors the right to cancel a contract until the time the minor turns 18. The contract be...
UHD BA 3301 Final Review || All Questions Answered
Correctly.
A legal defense renders a contract unenforceable, even though it has the necessary elements of a
valid contract. T/F correct answers True
Ally, a minor, purchases a car from a used-car dealer. The law allows minors the right to cancel a
contract until the time the minor turns 18. The contract between Ally and the dealer is
a voidable contract.
a void contract.
a valid contract.
an unenforceable contract. correct answers a voidable contract.
A handyman goes to the wrong house by mistake and cleans the gutters while the homeowners
are at work. The homeowners will have to pay for the service under the quasi-contract theory of
unjust enrichment. T/F correct answers False
An offer of a reward, if it is fulfilled, forms
a bilateral contract.
an express contract.
a quasi-contract.
a unilateral contract. correct answers a unilateral contract.
Mike is walking through a parking lot and finds Kathy lying unconscious. He puts her in his car
and takes her to the hospital. The hospital saves her life, and when she becomes conscious, it
presents her with a bill.
Mike has to pay because he brought her to the hospital.
Kathy has to pay based on a unilateral contract.
Kathy has to pay based on a quasi-contract.
Kathy has to pay based on an implied contract. correct answers Kathy has to pay based on a
quasi-contract.
Only written agreements are enforceable as contracts by courts. T/F correct answers False
,A promise is illusory and will not be enforced by courts when the offeror is not truly bound by
his or her vague promise. T/F correct answers T
Any meeting of the minds resulting in mutual assent to do or refrain from doing something is
called a contract. T/F correct answers False
ABC Land Co. is negotiating the sale of an office building to Mega Co. Which laws will govern
the contract for the sale of the building?
State statutory law based on the Uniform Commercial Code.
State common law.
Hybrid laws.
The Uniform Commercial Code. correct answers State common law.
Specific performance is almost always available when a real estate contract for the sale of land is
involved. T/F correct answers True
Specific performance is almost always available when a real estate contract for the sale of land is
involved. T/F correct answers False
Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price
and is told that it is $2,500. Harry signs a contract promising to pay the $2,500 on Friday, at
which time he will take possession of the rifle. On Thursday, a law is enacted making the
ownership, sale, or possession of an automatic rifle illegal. This contract
is enforceable and not affected by the new law because it was entered into before the law took
effect.
automatically terminates due to impossibility.
automatically terminates due to frustration of purpose.
automatically terminates due to impracticability. correct answers automatically terminates due to
impossibility.
In which of the following scenarios would enforcement of specific performance be appropriate?
You order a current-model, name-brand television from a department store, and a few days later
the store breaches by not ordering it from the manufacturer.
You order 3 gallons of white ceiling paint from a local store, and the store breaches by not
delivering or making available to you the 3 gallons.
,Your bookstore agrees to order a textbook for you but breaches its contract with you by
canceling the order the next day.
You own the pistol used by Hamilton and contract to buy the pistol used by Burr in the
Hamilton-Burr duel to complete your set, but despite the contract the Burr pistol owner refuses to
sell at the last minute. correct answers You own the pistol used by Hamilton and contract to buy
the pistol used by Burr in the Hamilton-Burr duel to complete your set, but despite the contract
the Burr pistol owner refuses to sell at the last minute.
Specific performance is almost always available when a real estate contract for the sale of land is
involved. T/F correct answers True
Burt and Mel have entered into a contract in which Burt agrees to put a concrete driveway on
Mel's property. If Burt delegates the duty of laying the driveway to Chuck and Chuck does an
unacceptable job, Mel may sue Burt for damages. T/F correct answers True
Beth has just signed a contract to work for a bank. A clause in the contract says that before she
begins work, she must pass a drug test and should drug use be discovered, the contract becomes
void. This clause would be a
concurrent condition.
nothing of consequence since Beth has already signed the contract.
Clyde contracts with Seaside Resorts to rent an oceanfront room for a romantic weekend with his
girlfriend Anne. In fact, Clyde intends to propose to Anne on the beach under the full moon
during their stay. He made this decision after booking the room. The contract with Seaside
Resorts requires a $250 deposit with the remaining $250 due upon check-in. The deposit is
nonrefundable unless the reservation is canceled at least 48 hours prior to check-in. The day
before they are to leave for the resort, Clyde and Anne have a huge fight and break up. If Clyde
calls Seaside, cancels the reservation, and demands a refund of his deposit, is Seaside legally
obligated to refund Clyde's money?
No. Seaside is not legally obligated to provide a refund.
Yes. Clyde will get the refund because of impossibility; he can't propose if they are no longer
speaking.
Yes. Clyde will get the refund because of frustration of purpose; his in correct answers No.
Seaside is not legally obligated to provide a refund.
, Steve is an avid bicyclist and sends in a $150 fee to participate in an across-the-state ride in the
Midwest. A week before the ride, he breaks his leg. Unless the contract specifically provides for
no refunds under any conditions, he will be able to receive a refund based on impossibility. T/F
correct answers True
Which of the following would not be considered tangible?
The right of ownership.
Oxygen.
The pen or pencil you are using.
A car. correct answers The right of ownership.
Your cousin, who is a CPA, calls you and says that a client paid him in diamonds and he's selling
them. If you purchase one of those diamonds, at the time of the sale your cousin would be
considered a merchant of those diamonds. T/F correct answers False
For a writing to satisfy statute of frauds requirements under the UCC, it must include each of the
following except
language that a reasonable person would believe constitutes an intent to form a contract.
price.
quantity.
the signature of the party against whom enforcement is sought. correct answers Price
Two merchant companies have entered into a contract for the sale of goods but have had no prior
dealings that would establish a course of conduct between them. The UCC will allow gap fillers
to apply to their contract regarding missing terms in each of the following situations except when
they have failed to specify where delivery of the goods is to be made.
they have failed to specify the price of the goods to be delivered.
they have failed to specify the quality or grade of the goods to be delivered.
they have failed to specify when payment for the goods is to be made. correct answers they have
failed to specify the quality or grade of the goods to be delivered.
The only state that has not adopted the UCC is
Arizona.
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