Deck 9: Nature of Traditional and E-Contracts

Question 1

Contracts are voluntarily entered into by parties.

Answer 1

True

Question 2

In order for an agreement to be valid,there must be mutual assent by the parties.

Answer 2

True

Question 3

Genuineness of assent means that the parties apparently agree to the contract.

Answer 3

False

Question 4

A contract can be viewed as private law between the parties to the contract.

Question 5

An agreement requires an offer by the offeror and an acceptance of the offer by the offeree.

Question 6

A contract is created when the offeror makes the offer.

Question 7

Contract law is an example of public law.

Question 8

Two (2)of the four (4)basic contract requirements are: 1)agreement between the parties and 2)signatures of the parties.

Question 9

The offeree is the party who makes an offer to enter into a contract.

Question 10

In order for an offer to be valid,an offeror must promise to undertake some affirmative action.

Question 11

Consideration describes the thought and evaluation process the parties go through when deciding to contract.

Question 12

The fact that a contract is legally enforceable means that the police can be called to make the other party live up to the terms of the contract.

Question 13

A contract is an agreement that is enforceable by a court of law or equity.

Question 14

Most contracts are performed without the aid of the court system.

Question 15

Parties to a contract must have contractual capacity.

Question 16

The provision of services does not qualify as consideration.

Question 17

According to the Restatement (Second)of Contracts: "A contract is a promise or a set of promises for the breach of which the law gives a remedy or the performance of which the law in some way recognizes a duty."

Question 18

In making an offer,the offeror promises to do or refrain from doing something.

Question 19

Contracts that have an illegal object are voidable.

Question 20

The offeror is the party to whom the offer is made.

Question 21

There is a limited federal common law of contracts that applies to contracts made by two (2)or more private parties.

Question 22

Many states have adopted rules that specifically regulate e-commerce transactions.

Question 23

The Uniform Commercial Code is a source of contract law that has been adopted by only a minority of the states.

Question 24

Contracts are either bilateral or unilateral,depending on what the offeree must do to accept the offeror's offer.

Question 25

If consent is obtained by duress,undue influence or fraud,there is no real consent.

Question 26

Contracting parties may agree to exclude or modify the application of the United Nations Convention on Contracts for the International Sale of Goods (CISG).

Question 27

The Restatement of the Law of Contracts is not law.

Question 28

The Uniform Computer Information Transactions Act was passed by the U.S.Congress and is the exclusive law in the area of electronic contracts and licenses,preempting state law.

Question 29

In applying the objective theory of contracts,the pertinent question to ask is: "Would a hypothetical reasonable person conclude that the parties intended to create a contract after considering the words and conduct of the parties and the surrounding circumstances?"

Question 30

The Restatement of the Law of Contracts is the highest priority source of contract law.

Question 31

The objective theory of contracts provides that it is the offeror who determines whether a contract has come into existence.

Question 32

The objective theory of contracts stresses the outward manifestation of assent made by the parties.

Question 33

The objective theory of contracts holds that the intent to enter into an express or implied-in-fact contract is judged by the subjective person standard.

Question 34

The Uniform Commercial Code addresses contracts relating to leases,sales of good and performance of services.

Question 35

There is some variation in contract law from state to state.

Question 36

The common law of contracts developed from early court decisions that became precedent for later decisions.

Question 37

Promises to make a gift are not enforceable contracts because a valid agreement is not present.

Question 38

Under the objective theory of contracts,the subjective intent of a party to enter into a contract is irrelevant.

Question 39

In order for the United Nations Convention on Contracts for the International Sale of Goods (CISG)to apply to an international sales contract,both of the nations must be parties to the convention,and the contract must specify that the CISG controls.

Question 40

State common law decisions have had a larger impact on contract law than federal common law decisions.

Question 41

Offers for both bilateral and unilateral contracts involve a promise by the offeror.

Question 42

Negotiable instruments are special forms of contracts recognized by the Uniform Commercial Code.

Question 43

No act of performance is required to create a bilateral contract.

Question 44

A valid informal contract is just as enforceable as a valid formal contract.

Question 45

Formal contracts are always in writing.

Question 46

Contracts to accomplish illegal objects or contracts that are against public policy are void.

Question 47

Letters of credit are governed by the Uniform Commercial Code.

Question 48

Amanda says to Josh,"I'll pay you $30 if you mow my lawn tomorrow." Josh says nothing.If Josh doesn't mow her lawn,Amanda can sue Josh for breach of contract.

Question 49

An offer for a unilateral contract can always be revoked at any time prior to the offeree's completion of the requested act.

Question 50

A contract is unilateral if the offeror's promise is answered with the offeree's promise of acceptance.

Question 51

A contract where the consideration exceeds $1,000 is automatically considered a formal contract.

Question 52

Informal contracts are always oral.

Question 53

Formal contracts are contracts that require a general form or method of creation.

Question 54

If a voidable contract is avoided by one of the parties,the other party is still obligated to perform.

Question 55

In a unilateral contract,the offer cannot be revoked if the offeree has begun or has substantially completed performance.

Question 56

An offer for a unilateral contract cannot be accepted by a mere promise to perform.

Question 57

In a unilateral contract,there is no contract until the offeree performs the requested act.

Question 58

Parties may voluntarily agree to perform a void contract and the agreement will be enforced by the courts.

Question 59

A voidable contract is one that neither party can perform.

Question 60

A contract remains executory as long as any party to the contract has not fully performed.

Question 61

Most personal and business contracts are implied-in-fact contracts.

Question 62

A completed contract is called an executory contract.

Question 63

Informal contracts are also referred to as complex contracts.

Question 64

When you write a check to pay your telephone bill,you are writing a formal contract.

Question 65

If a contract is void,neither party is obligated to perform the contract,and neither party can enforce the contract.

Question 66

One requirement of an express contract is that it be in writing.

Question 67

A voidable contract has no legal effect.

Question 68

An implied-in-fact contract is one based on the conduct of the parties.

Question 69

A voidable contract consists of an agreement between the parties,is supported by legally sufficient consideration,is between parties with contractual capacity,and accomplishes a lawful objective.

Question 70

A quasi-contract is imposed where one person confers a benefit on another person who retains the benefit,and it would be unjust not to require the recipient to pay for the benefit received.

Question 71

A one-year lease for an apartment that is 12 pages long,printed,covers all details of the parties' obligations,and contains the dated signature of each party is a formal contract.

Question 72

The following elements must be established to create an express contract: 1)The plaintiff provided property or services to the defendant; 2)The plaintiff expected to be paid by the defendant for the property or services and did not provide the property or services gratuitously; and 3)The defendant was given an opportunity to reject the property or services provided by the plaintiff but failed to do so.

Question 73

An actual contract may be express,but not implied-in-fact.

Question 74

The doctrine of quasi-contract is intended to prevent unjust enrichment,but not unjust detriment.

Question 75

Quasi-contracts and implied-in-law contracts are interchangeable terms.

Question 76

A quasi-contract is also called an implied-in-fact contract.

Question 77

All express contracts must be in writing to be valid.

Question 78

A contract that has not been performed by both sides is called an executed contract.

Question 79

The equitable doctrine of quasi-contract allows a court to award monetary damages to a plaintiff for providing work or services to a defendant,provided that an actual contract existed between the parties.

Question 80

Two kids mow your lawn by accident while you are at work.They had been called by a neighbor,but the mom who took the call wrote down the wrong address.If you refuse to pay,the kids would succeed in quasi-contract action based on unjust enrichment.