LES 305 Test 2, LES 305 Exam 2 Study
Guide Clark Modules 6-14, LES 305 -
Clark Exam 2 Review Questions with
correct answers
A complete and well-written contract should contain all of the following except - correct answer
✔✔Philosophy (Termination conditions
Clauses
Definitions)
Bill is a very skilled attorney with a very strong background in Latin. Therefore, when he writes contracts
for his clients, he uses as much legalese and Latin legal terminology as possible. Which statement below
is correct? - correct answer ✔✔Whenever possible, an attorney should avoid legalese and instead use
plain-English to make contracts easier to understand
The four required elements of a contract are - correct answer ✔✔Mutual assent, consideration, capacity
and legal purpose
When the reason and outcome of a contract are legal, the contract has - correct answer ✔✔legal
purpose
A professor tells a student that if she writes a 5,000-word paper on the evils of plagiarism by May 13, he
will pay her $750. Which of the following is true? - correct answer ✔✔The offer is for a unilateral
contract.
Evan promises to pay Joseph $100.00 if he does not swear for the entire weekend. This is an example of
a __________ contract. - correct answer ✔✔Unilateral
__________ is a medieval European law established a uniform and unbiased system for deciding
commercial disputes across borders and political boundaries. - correct answer ✔✔The Lex Meracatoria
,In general, contracts for the sale of goods are governed by: - correct answer ✔✔state statutory law
based on the Uniform Commercial Code.
Eduardo emails Skyler "Hey, I will sell you my Business Law text for $50.00." Skyler immediately
responds, "$50??!! Cool! YES!" This example illustrates what concept of contract formation? - correct
answer ✔✔Meeting of the minds
All of the following are required for promissory estoppel except - correct answer ✔✔The offeree was a
minor (The offeree actually relied on the promise and suffered an injury.
The reliance was reasonably foreseeable.
The offeror makes a reasonable offer.)
In order to have mutual assent, there must be - correct answer ✔✔An offer and an acceptance that is
the precise mirror image of the offer
Morgan downloads some software for a video gaming system. She does not click "I agree" and the terms
are posted only in a link at the bottom of the page. By completing the download she agrees to the terms
in what type of agreement. - correct answer ✔✔Browse-Wrap
According to the mailbox rule, an acceptance if effective - correct answer ✔✔when dispatched by the
offeree in a commercially reasonable manner.
Gabrielle, a 19 year old college freshman, promises not to drink any alcohol while she is away at college
in exchange for her parents' promise to pay for her tuition. Is there consideration? - correct answer
✔✔No because Gabrielle is not giving up something of legal value as she is under 21 years.
Aimee and Claire both own their own bakeries in Edwardsville. They both agree with each other to sell
their cupcakes for $5.00. Is this contract enforceable? - correct answer ✔✔No as it is a restraint on trade
which is against public policy.
16 year old Grace agrees to quit school to work for Andrew in his flower shop full-time. When Grace's
mom finds out what she has done, she orders her to tell Andrew that she will quit the job. This is called -
correct answer ✔✔Disaffirmance
, Tom is late for a class and tells his friend Shameem that he will pay her $100.00 to drive 20 miles over
the speed limit so that he can make it to class on time. Is there a contract? - correct answer ✔✔No as an
agreement to violate a statue is illegal and void
Mandy, a minor, disaffirms an agreement to purchase a car from Jamie, an adult, for $1000.00. Must
Mandy give back the car? - correct answer ✔✔Yes in order to disaffirm it, the minor must return
whatever consideration received.
Dottie, 15 years old, purchases a pint of milk and drinks it all. While she is not old enough to have
contractual capacity, under what theory would she be held liable for this item that is necessary for her
health and welfare? - correct answer ✔✔Necessaries
The requirement that both the subject matter and performance of a contract must be legal is called -
correct answer ✔✔Legality
Consent defects include all of the following except - correct answer ✔✔Unwiseness (Unconscionability
Misrepresentation
Fraud)
When one person has more or better information than the other is an example of - correct answer
✔✔Information asymmetry
In general, when dealing with an adhesion contract, courts will - correct answer ✔✔Assume that the
non-drafter had no real opportunity to bargain for the terms
Without genuiness of assent - correct answer ✔✔A promise made is not legally binding.
The main purpose of the statute of frauds is to - correct answer ✔✔Prevent fraud by requiring a written
contract to have written evidence of the agreement.
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