BLAW 2.01-2.02

1. Molly agrees to buy a set of glassware after talking to the salesman over the phone. What type of contract is this?

• A. Oral

• B. Unenforceable

• C. Valid

• D. Written

2. Bill and Sarah agreed at lunch to a contract for landscaping services. Bill did not have the contract form for Sarah to sign. What type of contract is this?

• A. Oral

• B. Unenforceable

• C. Valid

• D. Written

3. Mark purchases a piece of rare art from Jill for $5,000. The contract was written and signed by both parties. In this scenario, who is Mark?

• A. Donee

• B. Donor

• C. Offeree

• D. Offeror

4. Betty lost her wallet at a school ballgame. She offers a reward of $25 to anyone who returns the wallet. What type of contract is this?

• A. Bilateral

• B. Implied

• C. Unilateral

• D. Void

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

• A. Statute of frauds

  
  

• B. Statute of limitations

• C. Statute of realtors

• D. Uniform Commercial Code

6. Agreeing to give false testimony violates which element?

• A. Capacity

• B. Consideration

• C. Legality

• D. Offer

7. John sold a watch he owned to Jim. What term is used to identify the watch in this transaction for Jim?

• A. Benefit

• B. Counteroffer

• C. Detriment

• D. Forbearance

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

• A. Referral

• B. Refusal

• C. Rejection

• D. Revocation

9. A threat against a person’s business would violate which element?

• A. Capacity

• B. Consideration

• C. Genuine agreement

• D. Legality

10. Nancy has a contract to buy a car from Bryan. Nancy realizes she cannot afford the car. After signing the contract, Bryan wishes he had not contracted to sell the car to Nancy. They both decide to terminate the contract by what method?

• A. Mutual agreement

• B. Impossibility of performance

  
  

• C. Operation of law

• D. Performance