Contract Law

After talking to the salesman on the phone, Molley agree to buy a set of glassware. What type of contract is this?

• Oral

• Unenforceable

• Valid

• Written

John and Jenni sign a real estate contract to purchase a historic home. In the body of a contract, a change is handwritten. What law requires the contract to be in writing?

• Statute of Frauds

• Statute of Limitations

• Statute of realtors

• Uniform Commercial Code

Jim purchases a rare antique piece for $5,000. The contract was signed by both parties. in this scenario, who is Jim?

• donee

• donor

• offeree

• offeror

Robert offered a reward for anyone who returns his lost wallet. What type of contract is this?

• Bilateral

• implied

• unilateral

• void

Agreeing to give false testimony violates which element?

• capacity

• consideration

• legality

• offer

Zach needs money for college and reluctantly decides to sell his watch grandfather's pocket watch to Lee. what term is used to identify the watch in this transaction for Zach?

• Benefit

• Counteroffer

• Detriment

• Forbearance

A threat against a person's business would violate which element?

• capacity

• consideration

• genuine agreement

• legality

What elements would NOT cause grounds for avoidance due to lack of genuine agreement?

• Duress

• Undue Influence

• Misrepresentation

• Promises

• Mistakes

After being offered a new car at a discount, Macey decided to turn down the offer. How was this contract terminated?

• referral

• refusal

• rejection

• renovation

If the offeror mails an offer to the offeree, and the offeree faxes the acceptance, when will the offer go into affect?

• When offered

• When received

• When sent

• When written