Question 1

A voidable contract is also termed as an unenforceable contract.

Accepted Answer

A voidable contract is different from an unenforceable contract. A voidable contract is a contract that can be cancelled or voided by one or both parties, while an unenforceable contract is a contract that cannot be enforced by law due to certain defects.

Question 2

Which of the following is a necessary condition for a contract to be considered valid?

Accepted Answer

The answer of Which of the following is a necessary...

Question 3

A contract in which an agreement between the parties is inferred from their conduct is known as a(n)________ contract.

Accepted Answer

The answer of A contract in which an agreement between...

Question 4

To create an implied-in-fact contract,it must be established that the plaintiff provided the property or services gratuitously.

Accepted Answer

To create an implied-in-fact contract, it must be established that both parties intended to enter into a contract and that their conduct implies a mutual agreement. The provision of property or services may be part of the consideration for the contract, but it is not necessary for an implied-in-fact contract to be formed.

Question 5

While Harry was intoxicated,he sold his car to Ben for substantially less than its fair market value.This contract is considered ________.

Accepted Answer

Harry's intoxication made him unable to fully understand the terms and nature of the contract. Therefore, he could potentially void the contract if he chose to do so, making it voidable. However, until he takes that action, the contract remains valid and enforceable.

Question 6

Noelle uses blackmail to force Jeff to sign a contract for the sale of his home.This contract is ________.

Accepted Answer

The contract is voidable because it was made under duress, specifically blackmail. This means that Jeff has the option to void the contract if he can prove that he was forced to sign it. However, until he takes action to void it, the contract is still technically enforceable.

Question 7

Kyle goes to a used automobile dealership to buy a truck.He signs an agreement with the dealership that includes a description of the truck,its price,and other details.This is an example of a(n)________ contract.

Accepted Answer

An express contract is one in which the parties have explicitly stated the terms and conditions of their agreement, either orally or in writing. In this case, Kyle signed an agreement that included a description of the truck, its price, and other details, making it an express contract.

Question 8

Which of the following elements must be established to create an implied-in-fact contract?

Accepted Answer

An implied-in-fact contract arises from the conduct of the parties rather than from express words. The defendant's conduct must indicate that they accepted the plaintiff's property or services and intended to be bound by an agreement. If the defendant had the opportunity to reject the property or services but failed to do so, it can be inferred that they accepted the offer of an implied contract. Options A, B, and C are not relevant to the establishment of an implied-in-fact contract.

Question 9

An implied-in-fact contract is a contract in which agreement between parties has been inferred from their conduct.

Accepted Answer

An implied-in-fact contract is a valid and enforceable contract that arises from the parties' actions, rather than an explicit agreement; thus, it is inferred from their conduct.

Question 10

A contract that has been fully performed by both sides is called an executory contract.

Accepted Answer

A contract that has been fully performed by both sides is called an executed contract. An executory contract is one where there are still obligations to be fulfilled by one or both sides.

Question 11

In terms of a contract's enforcement,which of the following is true?

Accepted Answer

Parties may indeed voluntarily perform a contract that is unenforceable, meaning that even if the law does not provide a mechanism for enforcing the contract, the parties involved can still choose to fulfill their obligations under the agreement.

Question 12

An express contract can be stated orally.

Accepted Answer

An express contract can be stated orally, meaning it can be agreed upon through verbal communication.

Question 13

Which of the following would likely give rise to a quasi-contract?

Accepted Answer

Quasi-contracts are not actual contracts but are legal obligations imposed by courts to prevent unjust enrichment. In the scenario where an unconscious man is treated in a hospital emergency room, he has not agreed to the service due to his condition, but the hospital provides necessary medical care. The law imposes a quasi-contract to ensure the hospital is compensated for its services, preventing the man from being unjustly enriched by receiving medical care without paying for it.

Question 14

Elizabeth signs a contract to purchase a new car from Quickcash Motors.She has not yet paid for the car,and Quickcash Motors has not yet delivered the car to Elizabeth.This is an example of a(n)________ contract.

Accepted Answer

An executory contract is a contract that has not yet been fully performed by either party. In this case, Elizabeth has not paid for the car and Quickcash Motors has not delivered the car, so the contract is still in the process of being executed.

Question 15

A contract that has been fully performed by one party but not by the other party is a(n)________ contract.

Accepted Answer

An executory contract is one in which one or both parties have not yet completed their obligations. Since the scenario describes a situation where one party has fully performed but the other has not, it fits the definition of an executory contract.

Question 16

An oral agreement to purchase a neighbor's bicycle for $250 is a(n)________ contract.

Accepted Answer

An oral agreement to purchase a neighbor's bicycle for $250 is an express contract because the terms are clearly stated and agreed upon by the parties verbally.

Question 17

If a contract is required to be in writing under the Statute of Frauds but is not,the contract is ________.

Accepted Answer

The Statute of Frauds requires certain contracts to be in writing such as contracts for the sale of goods over $500, contracts that cannot be performed within one year, contracts for the transfer of land, and contracts to answer for the debts of another. If a contract falls under one of these categories but is not in writing, it is unenforceable.

Question 18

In terms of the doctrine of quasi-contract,which of the following statements is true?

Accepted Answer

The doctrine of quasi-contract is an equitable doctrine that is intended to prevent unjust enrichment. It applies in situations where there is no actual contract between the parties, but where one party has received a benefit that would be unjust to keep without payment. The agreement between the parties is not inferred from their conduct, and it can apply even in situations where there is already an enforceable contract in place. The doctrine allows a court to award damages or restitution to the plaintiff in order to prevent unjust enrichment of the defendant.

Question 19

Stella is injured in a car accident and is transported to the local hospital by emergency personnel.She subsequently passes into a coma.The doctors and other staff perform the necessary medical procedures to save her life.Stella recovers after two months and is discharged from the hospital.Under the doctrine of ________ contract,Stella must pay the hospital for its services.

Accepted Answer

Due to the nature of the situation, Stella did not have a formal agreement in place with the hospital for services rendered. However, the doctrine of quasi-contract allows the hospital to recover the reasonable value of the services they provided. This is based on the principle of unjust enrichment, where it would be unfair for Stella to receive medical treatment without paying for it. Therefore, the hospital can seek payment from Stella under the doctrine of quasi-contract.

Question 20

What are the possible problems that can come up in a unilateral contract?

Accepted Answer

The answer of What are the possible problems that can...

Quiz 9: Formation and Requirements of Contracts