BL (10)

Contracts for goods valued at $500 or more must be in writing.

• True

• False

Oral contracts are not enforceable.

• True

• False

People under the age of 18 can generally make contracts and can usually get out of their contracts if they choose to.

• True

• False

If you sign a contract without reading all the terms, you will not be bound by the terms that you did not read.

• True

• False

Which type of contract case was most prevalent for people trying to recover payments for goods or services?

• fraud

• seller plaintiff

• employment

• rental / lease agreements

Which type of contract case was least prevalent for people trying to recover payments for goods or services?

• employment

• buyer plaintiff

• rental / lease agreements

• fraud

What percentage of contract cases involved mortgage foreclosure?

• 10%

• 19%

• 5%

• 23%

Minors may be required to pay for contracts for food, clothing, shelter, medical care, or other necessities.

• True

• False

Hao promises to pay Sydney $20 to give her a copy of the history test that is to be given on the next day. Sydney gives Hao the test, but Hao refuses to pay the money. The contract between Hao and Sydney is

• unconscionable.

• valid.

• illegal.

• fraudulent.

Consideration in a contract means that the parties must behave civilly.

• True

• False