Question 1

A person who is intoxicated can avoid liability on any contract due to the intoxication.

Accepted Answer

A) True 
 B)False

Question 2

An essential element for contract formation is a reasonable price related to market value.

Accepted Answer

A) True 
 B)False

Question 3

Global Corporation enters into contracts with buyers in e-commerce and traditional commerce.The Uniform Electronics Transactions Act applies,if at all,only to those transactions in which the parties agree to use​

Accepted Answer

A)  electronic means.
B)  paper documents.
C)  updates and cross-checks to orally verify any e-terms.
D)  notarized documents.E) C) and D)
F) B) and D)

Question 4

A contract that has been fully performed by the parties is an executory contract.

Accepted Answer

A) True 
 B)False

Question 5

Due on Receipt,Inc. ,makes tax software,which is packaged with a shrink-wrap agreement.Evenflo Products Company distributes the software to retailers,including a Flatprice discount store,where Greta buys a package of it.The parties to the shrink-wrap agreement are​

Accepted Answer

A)  does not read it.
B)  learns of it after the contract is formed.
C)  learns of it before the contract is formed.
D)  has difficulty learning how to play the game.E) A) and C)
F) B) and D)

Question 6

Browse-wrap terms are often unenforceable.

Accepted Answer

A) True 
 B)False

Question 7

First Business Solutions,Inc. ,develops and implements online sales strategies for its clients.First Business hires Gideon to plan and execute an e-commerce strategy for marketing Western Skye Company's products.Gideon signs a contract that includes a clause prohibiting him from competing with First Business during and after the employment.After the plan is formed but before it is implemented,Gideon resigns from First Business's employ and opens a competing business.In First Business's suit against Gideon,what is the most important factor the court should consider in determining whether Gideon should be allowed to compete with First Business?​

Accepted Answer

In determining whether Gideon may compet...

Question 8

Under federal law,an e-document is not as enforceable as a paper one.

Accepted Answer

A) True 
 B)False

Question 9

An assignee of contract rights has a right to demand performance of the contract from the obligor.

Accepted Answer

A) True 
 B)False

Question 10

Rob promises to pay Sara,his niece,$5,000 if she obtains her degree at Tech University,where she is in her third year.Sara graduates.Rob is​

Accepted Answer

A)  not required to pay because Sara was already at Tech.
B)  not required to pay because obtaining a degree benefits Sara.
C)  required to pay because a job can be hard to find after college.
D)  required to pay because Sara obtained a degree at Tech.E) A) and D)
F) B) and D)

Question 11

A forum-selection clause specifies that any contract dispute will be settled in a particular jurisdiction.

Accepted Answer

A) True 
 B)False

Question 12

On behalf of the jazz group Fusion,their manager Greg agrees to a performance in Hillside Amphitheatre on July 4.Hillside sends a written copy of the agreement to Greg to be signed.If Greg signs the copy,the parties will have​

Accepted Answer

A)  an express contract.
B)  an implied contract.
C)  a mixed contract.
D)  no  contract.E) B) and C)
F) None of the above

Question 13

A delegation relieves the party making it of the obligation to perform.

Accepted Answer

A) True 
 B)False

Question 14

One of the requirements of a valid contract is an adequate price.

Accepted Answer

A) True 
 B)False

Question 15

Idina admires Jules's collection of guitars.Jules says,"I plan to sell the collection when I get tired of it." Jules's statement is​

Accepted Answer

A)  an offer.
B)  not an offer because it has not been communicated to Idina.
C)  not an offer because Jules expressed only an intent to enter into a future contract.
D)  an acceptance.E) B) and C)
F) None of the above

Question 16

ActioNOW and Becca enter into an oral contract in which Becca agrees to work on a project for ActioNOW for eighteen months.This contract is enforceable by​
Any third party,such as ActioNOW's clients.

Accepted Answer

A)  ActioNOW.
B)  Becca.
C)  any third party,such as ActioNOW's clients.
D)  none of the choices.E) C) and D)
F) A) and B)

Question 17

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis.Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time.With respect to this offer​

Accepted Answer

A)  the deal is binding except for the promise to hold the offer open.
B)  a reasonable period of time is implied.
C)  the offer must be held open for an indefinite period.
D)  the deal is done.E) A) and B)
F) A) and C)

Question 18

Lou offers to service Millie's heating and air conditioning system for one year for $500.Under the mirror image rule,Millie's response will be considered an acceptance if the terms of the acceptance​

Accepted Answer

A)  exactly mirror those of the offer.
B)  change the items offered,but do not change the price.
C)  change the price,but do not change the items offered.
D)  change both the price and the items offered.E) All of the above
F) A) and D)

Question 19

Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65.Ginger agrees.These parties have​

Accepted Answer

A)  no contract.
B)  an express contract.
C)  an implied contract.
D)  a mixed contract.E) A) and D)
F) C) and D)

Question 20

Lauren files a suit against Moving Service for breach of contract,based on what Lauren claims was Moving's offer.For a court to determine if a contract has been breached,under the common law,the offer must include terms that are​

Accepted Answer

A)  exactly precise.
B)  reasonably definite.
C)  unequivocally approximate.
D)  vague or uncertain.E) A) and C)
F) B) and D)

Exam 12: Formation of Traditional and E-Contracts

Under federal law,an e-document is not as enforceable as a paper one.

Correct Answer
verified

Browse-wrap terms are often unenforceable.

Correct Answer
verified

Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65.Ginger agrees.These parties have

Correct Answer
verified

An essential element for contract formation is a reasonable price related to market value.

Correct Answer
verified

Lou offers to service Millie's heating and air conditioning system for one year for $500.Under the mirror image rule,Millie's response will be considered an acceptance if the terms of the acceptance

Correct Answer
verified

A forum-selection clause specifies that any contract dispute will be settled in a particular jurisdiction.

Correct Answer
verified

Lauren files a suit against Moving Service for breach of contract,based on what Lauren claims was Moving's offer.For a court to determine if a contract has been breached,under the common law,the offer must include terms that are

Correct Answer
verified

ActioNOW and Becca enter into an oral contract in which Becca agrees to work on a project for ActioNOW for eighteen months.This contract is enforceable by Any third party,such as ActioNOW's clients.

Correct Answer
verified

Rob promises to pay Sara,his niece,$5,000 if she obtains her degree at Tech University,where she is in her third year.Sara graduates.Rob is

Correct Answer
verified

Correct Answer
verified
In determining whether Gideon may compet...
View Answer

An assignee of contract rights has a right to demand performance of the contract from the obligor.

Correct Answer
verified

A contract that has been fully performed by the parties is an executory contract.

Correct Answer
verified

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis.Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time.With respect to this offer

Correct Answer
verified

On behalf of the jazz group Fusion,their manager Greg agrees to a performance in Hillside Amphitheatre on July 4.Hillside sends a written copy of the agreement to Greg to be signed.If Greg signs the copy,the parties will have

Correct Answer
verified

One of the requirements of a valid contract is an adequate price.

Correct Answer
verified

Idina admires Jules's collection of guitars.Jules says,"I plan to sell the collection when I get tired of it." Jules's statement is

Correct Answer
verified

A person who is intoxicated can avoid liability on any contract due to the intoxication.

Correct Answer
verified

A delegation relieves the party making it of the obligation to perform.

Correct Answer
verified

Global Corporation enters into contracts with buyers in e-commerce and traditional commerce.The Uniform Electronics Transactions Act applies,if at all,only to those transactions in which the parties agree to use

Correct Answer
verified

Due on Receipt,Inc. ,makes tax software,which is packaged with a shrink-wrap agreement.Evenflo Products Company distributes the software to retailers,including a Flatprice discount store,where Greta buys a package of it.The parties to the shrink-wrap agreement are

Correct Answer
verified

Exam 12: Formation of Traditional and E-Contracts

Under federal law,an e-document is not as enforceable as a paper one.

Correct AnswerverifiedShow Answer

Browse-wrap terms are often unenforceable.

Correct AnswerverifiedShow Answer

Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65.Ginger agrees.These parties have​

Correct AnswerverifiedShow Answer

An essential element for contract formation is a reasonable price related to market value.

Correct AnswerverifiedShow Answer

Lou offers to service Millie's heating and air conditioning system for one year for $500.Under the mirror image rule,Millie's response will be considered an acceptance if the terms of the acceptance​

Correct AnswerverifiedShow Answer

A forum-selection clause specifies that any contract dispute will be settled in a particular jurisdiction.

Correct AnswerverifiedShow Answer

Lauren files a suit against Moving Service for breach of contract,based on what Lauren claims was Moving's offer.For a court to determine if a contract has been breached,under the common law,the offer must include terms that are​

Correct AnswerverifiedShow Answer

ActioNOW and Becca enter into an oral contract in which Becca agrees to work on a project for ActioNOW for eighteen months.This contract is enforceable by​ Any third party,such as ActioNOW's clients.

Correct AnswerverifiedShow Answer

Rob promises to pay Sara,his niece,$5,000 if she obtains her degree at Tech University,where she is in her third year.Sara graduates.Rob is​

Correct AnswerverifiedShow Answer

Correct AnswerverifiedIn determining whether Gideon may compet...View AnswerShow Answer

An assignee of contract rights has a right to demand performance of the contract from the obligor.

Correct AnswerverifiedShow Answer

A contract that has been fully performed by the parties is an executory contract.

Correct AnswerverifiedShow Answer

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis.Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time.With respect to this offer​

Correct AnswerverifiedShow Answer

On behalf of the jazz group Fusion,their manager Greg agrees to a performance in Hillside Amphitheatre on July 4.Hillside sends a written copy of the agreement to Greg to be signed.If Greg signs the copy,the parties will have​

Correct AnswerverifiedShow Answer

One of the requirements of a valid contract is an adequate price.

Correct AnswerverifiedShow Answer

Idina admires Jules's collection of guitars.Jules says,"I plan to sell the collection when I get tired of it." Jules's statement is​

Correct AnswerverifiedShow Answer

A person who is intoxicated can avoid liability on any contract due to the intoxication.

Correct AnswerverifiedShow Answer

A delegation relieves the party making it of the obligation to perform.

Correct AnswerverifiedShow Answer

Global Corporation enters into contracts with buyers in e-commerce and traditional commerce.The Uniform Electronics Transactions Act applies,if at all,only to those transactions in which the parties agree to use​

Correct AnswerverifiedShow Answer

Due on Receipt,Inc. ,makes tax software,which is packaged with a shrink-wrap agreement.Evenflo Products Company distributes the software to retailers,including a Flatprice discount store,where Greta buys a package of it.The parties to the shrink-wrap agreement are​

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65.Ginger agrees.These parties have

Correct Answer
verified

Correct Answer
verified

Lou offers to service Millie's heating and air conditioning system for one year for $500.Under the mirror image rule,Millie's response will be considered an acceptance if the terms of the acceptance

Correct Answer
verified

Correct Answer
verified

Lauren files a suit against Moving Service for breach of contract,based on what Lauren claims was Moving's offer.For a court to determine if a contract has been breached,under the common law,the offer must include terms that are

Correct Answer
verified

ActioNOW and Becca enter into an oral contract in which Becca agrees to work on a project for ActioNOW for eighteen months.This contract is enforceable by Any third party,such as ActioNOW's clients.

Correct Answer
verified

Rob promises to pay Sara,his niece,$5,000 if she obtains her degree at Tech University,where she is in her third year.Sara graduates.Rob is

Correct Answer
verified

Correct Answer
verified
In determining whether Gideon may compet...
View Answer

Correct Answer
verified

Correct Answer
verified

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis.Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time.With respect to this offer

Correct Answer
verified

On behalf of the jazz group Fusion,their manager Greg agrees to a performance in Hillside Amphitheatre on July 4.Hillside sends a written copy of the agreement to Greg to be signed.If Greg signs the copy,the parties will have

Correct Answer
verified

Correct Answer
verified

Idina admires Jules's collection of guitars.Jules says,"I plan to sell the collection when I get tired of it." Jules's statement is

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Global Corporation enters into contracts with buyers in e-commerce and traditional commerce.The Uniform Electronics Transactions Act applies,if at all,only to those transactions in which the parties agree to use

Correct Answer
verified

Due on Receipt,Inc. ,makes tax software,which is packaged with a shrink-wrap agreement.Evenflo Products Company distributes the software to retailers,including a Flatprice discount store,where Greta buys a package of it.The parties to the shrink-wrap agreement are

Correct Answer
verified