
2.3 Contract Fundamentals
Quiz
•
Other
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Professional Development
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Practice Problem
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Hard
Raquel Huerta
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12 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The Statute of Frauds requires certain contracts to be in writing in order to be:
consummated
enforceable
executed
on a standard form
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A contract based on an illegal consideration is:
valid
void
legal
illegal
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A contract contains the following language: "No changes to the agreement may be made without the prior written consent of both parties." What type of communication would be acceptable to alter the agreement?
a faxed notice delivered by one party
an email communication from one party received and accepted by the other party
a telephone conversation between the parties' agents
an addendum prepare by one of the parties
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following elements is NOT essential to a binding contract:
lawful object
legally competent parties
monetary consideration
meeting of the minds
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
If a lease is agreed upon on March 15 but does not take effect until April 1 and ends on April 30 of the following year, the lease:
must be in writing to be enforceable
does not need to be in writing to be enforceable
is an implied contract
is an invalid contract
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
In a contract there is always an offer and:
execution
acceptance
counteroffer
right of rescission
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
An oral agreement for the sale of real property is:
unenforceable
void
enforceable
voidable
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