Ch.9 Quiz

Instructions
Please read the questions carefully.

This assessment is worth 100 points.

  1. A bilateral contract involves the exchange of a promise for a promise.    (5 points)

      
      

  2. A valid contract whose enforcement is barred by a statute of limitations is called an unenforceable contract.    (5 points)

      
      

  3. Speaking generally, quasi-contract applies where there has been foreseeable reliance on an express promise.    (5 points)

      
      

  4. The UCC imposes a duty of good faith on the performance and enforcement of every contract it covers.    (5 points)

      
      

  5. The rules promulgated by the Restatement (Second) of Contracts often resemble the rules created by Article 2 of the UCC.    (5 points)

      
      

  6. If no Code rule applies to an issue regarding a sales of goods contract, the common law rules apply.    (5 points)

      
      

  7. A void contract is a contract that one or both parties may cancel, at their option.    (5 points)

      
      

  8. An express contract is a contract that is evidenced by a writing.    (5 points)

      
      

  9. In general, 20th century contract law exhibits the principle of freedom of contract more than does 19th century contract law.    (5 points)

      
      

  10. Article 2 of the UCC applies to, among other things, contracts for the sale of real estate.    (5 points)

      
      

  11. Joe says to Sue: "I promise to pay you $1500 if you'll paint my house." Sue begins to paint Joe's house. Right now, she is half-finished. At this point in time, the contract between Joe and Sue is:    (5 points)

    a.  
    b.  
    c.  
    d.  

  12. To which of the following contracts does Article 2 of the UCC most likely apply?    (5 points)

    a.  
    b.  
    c.  
    d.  

  13. Which of the following is true regarding promissory estoppel?    (5 points)

    a.  
    b.  
    c.  
    d.  

  14. An oral contract that is covered by the statute of frauds is:    (5 points)

    a.  
    b.  
    c.  
    d.  

  15. Twentieth century contract law is generally characterized by:    (5 points)

    a.  
    b.  
    c.  
    d.  

  16. Which of the following is not one of the factors that has influenced the character of modern contract law?    (5 points)

    a.  
    b.  
    c.  
    d.  

  17. A contract whose formation is induced by duress (force or compulsion) is:    (5 points)

    a.  
    b.  
    c.  
    d.  

  18. A and B contract for the sale of goods. Later A, who is 13 years old, wants to cancel the contract on grounds of incapacity. Which of the following is true? Assume that neither A nor B is a merchant.    (5 points)

    a.  
    b.  
    c.  
    d.  

  19. A void contract:    (5 points)

    a.  
    b.  
    c.  
    d.  

  20. Why does it matter whether or not a contracting party is an Article 2 merchant?    (5 points)

    a.  
    b.  
    c.  
    d.  



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