Question 1

In most contracts the consideration consists of promises to do something.

Accepted Answer

Consideration in a contract is typically defined as a promise, an act, or a forbearance. In most contracts, the consideration involves promises to perform certain actions or refrain from certain actions.

Question 2

A lawsuit to evict a tenant is known as an unlawful detainer action.

Accepted Answer

An unlawful detainer action is a legal process used by landlords to evict tenants who are not complying with the terms of their lease or who have otherwise violated their rental agreement.

Question 3

Deeds are used to transfer ownership to property.

Accepted Answer

Deeds are legal documents that transfer ownership of property from one party to another.

Question 4

The "Golden Arches" is an example of something that is entitled to protection under

Accepted Answer

The "Golden Arches" is a recognizable symbol associated with McDonald's restaurants, making it eligible for trademark protection. Patent law encompasses inventions, copyright law pertains to creative works, and trade secret law protects confidential information. While the "Golden Arches" may be eligible for protection under some of these areas of law, trademark law is the most relevant for this particular symbol.

Question 5

The Statute of Frauds

Accepted Answer

The Statute of Frauds requires that certain types of contracts (such as contracts for the sale of land, contracts that cannot be performed within one year, and contracts for the sale of goods over a certain amount) be evidenced by a writing. However, it does not require all contracts to be in writing, nor does it require notarization. It also limits the types of evidence that can be used to prove the terms of the contract, but this is not its primary purpose. It does not provide a remedy for fraudulent acts on its own, but it may be used as a defense against a fraudulent claim.

Question 6

A bilateral contract is one in which both parties have made promises to perform.

Accepted Answer

In a bilateral contract, both parties have made promises to perform. This is in contrast to a unilateral contract where only one party makes a promise to perform.

Question 7

Which of the following does not indicate an ownership interest in real property?

Accepted Answer

A month-to-month tenancy is a form of leasehold interest, which does not indicate ownership of the property. The other options, fee simple, life estate, joint tenancy, and community property, all indicate ownership interests in real property.

Question 8

The Uniform Commercial Code controls:

Accepted Answer

The Uniform Commercial Code (UCC) primarily governs commercial transactions involving the sale of goods, which are tangible items such as furniture, clothing, electronics, etc. It does not apply to real property, services, or contracts not related to the sale of goods.

Question 9

The legal doctrine that allows the court to treat a certain situation as if a contract exists, even where one of the elements is missing, is known as:

Accepted Answer

A quasi contract is a fictional contract created by the court to provide a remedy even when there is no contract. It allows the court to treat a situation as if a contract exists, even if one of the essential elements of a valid contract is missing. Quasi contract claims are also known as implied-in-law contracts, and they are based on the principle that no one should be unjustly enriched at the expense of another party. Choice B, promissory estoppel, refers to a legal doctrine that allows a party to enforce a promise, even if the promise did not meet the requirements of a contract. Choices C and D refer to rules that govern the admissibility and interpretation of evidence in contractual disputes. Choice E, assignment, is a transfer of rights under a contract, and it does not relate to the creation or enforcement of a contract.

Question 10

The parole evidence rule limits the types of evidence that be used to prove terms of an agreement

Accepted Answer

The parole evidence rule is a legal principle that states that if parties have made a written or oral agreement that is complete and final, then evidence of prior or contemporaneous negotiations, conditions, or oral agreements that contradict, modify, or vary the terms of the written agreement cannot be used to interpret or supplement it. Therefore, the parole evidence rule limits the types of evidence that can be used to prove the terms of an agreement, and ensures that the written contract is the best evidence of the parties' intentions.

Question 11

A contract entered into by a minor

Accepted Answer

Contracts entered into by a minor are typically voidable, meaning that the minor has the option to either enforce or avoid the contract. The minor may avoid the contract for any reason, or for no reason at all, up until a reasonable time after reaching the age of majority. Therefore, option A (void) and option C (enforceable against the minor) are incorrect. Option D (becomes enforceable if not rescinded within 60 days) is also incorrect, as there is no specific time frame for when a minor must rescind a contract.

Question 12

Contracts usually contain the following:

Accepted Answer

All of the above elements - mutual consent, consideration, capable parties, and legal subject matter - are typically included in contracts in order to make them valid and enforceable. Mutual consent refers to a meeting of the minds between the parties, where they both understand and agree to the terms of the contract. Consideration is the exchange of something of value between the parties, which gives each side a benefit or incurs a detriment. Capable parties are those who have the legal capacity to enter into a contract, meaning they are of legal age, mentally sound, and not under duress or undue influence. Legal subject matter means that the purpose and terms of the contract must comply with the law and not involve illegal activities or be against public policy.

Question 13

Patent and copyright laws are federal rather than state.
Multiple Choice

Accepted Answer

Patent and copyright laws fall under federal jurisdiction, specifically the U.S. Patent and Trademark Office and the U.S. Copyright Office, respectively.

Question 14

Once a patent is obtained it is good forever.

Accepted Answer

A patent is not good forever. The term of a patent varies depending on the country and type of patent, but typically lasts between 15 to 20 years from the date of filing. After the term expires, the invention enters the public domain and can be used by anyone.

Question 15

In contract law, the person who makes an offer is the offeree.

Accepted Answer

The person who makes an offer is the offeror, while the person who receives the offer is the offeree.

Question 16

A type of deed in which the grantor makes no representations is a:

Accepted Answer

A quitclaim deed transfers any interest or ownership the grantor has in a property to the grantee, but makes no warranties or guarantees about the title or condition of the property. Therefore, the grantor makes no representations, which distinguishes it from a warranty deed or grant deed.

Question 17

The key feature of joint tenancy is a right of survivorship.

Accepted Answer

Joint tenancy includes the right of survivorship, which means that when one joint tenant dies, their share automatically passes to the surviving joint tenant(s) without having to go through probate.

Question 18

Contracts by emancipated minors are usually valid.

Accepted Answer

Emancipated minors are considered to have legal adult status and the ability to enter into contracts like any other adult. Therefore, contracts made by emancipated minors are typically valid.

Question 19

Which of the following is a void contract?

Accepted Answer

A contract entered into by someone who has been adjudicated by a court to be incapacitated or insane is considered void because they lack the legal capacity to enter into a contract. The other options (A, B, and C) may be voidable but not necessarily void.

Question 20

Which of the following indicates a non-ownership interest in real property?

Accepted Answer

The answer of Which of the following indicates a non-ownership...

Quiz 10: Contract Law, Real Property Law, Intellectual Property, and Employment Law