Types of Contracts Review-Video Quiz

What is a unilateral contract?

• A contract where one party makes a promise and the other party performs an act

• A contract where both parties perform an act

• A contract based on written terms only

• A contract that is implied by actions

Which of the following is an example of a bilateral contract?

• A person takes a book from a shelf in a bookstore and walks to the register

• Someone rides the bus without paying the fare

• Buying a laptop where the seller promises to deliver and the buyer promises to pay

• Jose promises to pay George $10 if George cleans his driveway

What distinguishes an express contract from an implied contract?

• An implied contract cannot be enforced in court

• An implied contract is always related to the sale of goods

• An express contract is created by the express words or writings of the parties

• An express contract is based on the actions and conduct of the parties

What is a quasi contract?

• A contract where both parties have made a promise

• Not an actual contract, but a remedy to avoid unjust enrichment

• A contract implied by the actions of the parties

• A contract based solely on verbal promises

Under what condition can promissory estoppel be applied?

• When one party has relied on a promise and suffered a detriment because the promise was broken

• When a contract involves the sale of goods only

• When a contract is written and signed by both parties

• When a contract is implied by the conduct of the parties

What is the main difference between unilateral and bilateral contracts?

• Bilateral contracts cannot be legally enforced

• Unilateral contracts are always written, while bilateral contracts are not

• Unilateral contracts involve the sale of goods, while bilateral contracts do not

• In unilateral contracts, only one party makes a promise, while in bilateral contracts, both parties make promises

How are express contracts formed?

• Through the actions and conduct of the parties

• By the express words or writings of the parties

• Through a court order

• By implication from circumstances

What scenario best describes an implied contract?

• A written agreement to sell a car

• A promise made without any action taken

• A verbal agreement to perform a service

• Taking a book to the register in a bookstore

Why might courts enforce a quasi contract?

• Because it is a fully executed contract

• To enforce a verbal promise

• To fulfill the terms of a written agreement

• To avoid unjust enrichment of one party

What must be proven for promissory estoppel to apply?

• That both parties performed their promised actions

• That a promise was made and relied upon, causing detriment

• That the contract was implied by actions

• That a written contract exists