Deck 7: Contracts and E-Commerce

Question 1

Contracts are involuntary agreements entered into by parties.

Answer 1

False

Question 2

A contract is an agreement that is enforceable in a court of law.

Answer 2

True

Question 3

An agreement involves:

A)An offer
B)An offeree.
C)An offerer.
D)All of the above.

Answer 3

D

Question 4

A nondisclosure agreement does not:

A)Provide for the equitable sharing of information.
B)Swear the signatory to secrecy.
C)Usually involve takeovers and corporate deals.
D)Protect people that have great ideas.

Question 5

The object of the contract may be for any purpose.

Question 6

An offer does not necessary need to be communicated to the offeree.

Question 7

A contract to perform an illegal act is:

A)An illegal contract.
B)Void.
C)Cannot be enforced.
D)All of the above.

Question 8

Under the common law an offeror may revoke an offer:

A)At any time.
B)After the offeree has rejected the offer.
C)After the offeree has accepted the offer.
D)Prior to the acceptance of the offer.

Question 9

In an option contract,the offeror agrees not to sell the property to another party during the option period.

Question 10

To have an enforceable contract,there must be an agreement between the parties.

Question 11

In the evolution of contracts,the following is not true:

A)The use of contracts goes back to ancient times.
B)The common law of contracts was developed in France around the 13th century.
C)The United States adopted a laissez-faire approach to the law of contracts.
D)None of the above.

Question 12

The following have the burden of proof of incapacity to contract:

A)The minor.
B)The guardian.
C)The conservator.
D)All of the above.

Question 13

Mental incapacity usually arises from:

A)Mental illness.
B)Brain damage.
C)Senility.
D)All of the above.

Question 14

Examples of contracts are:

A)Sales contracts.
B)Rental agreements.
C)Licensing agreements.
D)All of the above.

Question 15

Consideration may involve:

A)Money.
B)Performance of an act.
C)Property.
D)All of the above.

Question 16

The terms of a contract become private law between the parties.

Question 17

Special rules have been developed to apply to electronic commerce.

Question 18

In a contract:

A)The offeree makes an offer
B)The offeror is made an offer
C)The offeree promises to do or to refrain from doing something.
D)The offeree has the power to create a contract.

Question 19

An offeror must objectively intend to be bound by the offer.

Question 20

The use on contracts goes back to ancient times.