Contract Law Quiz

Why does the formation of traditional and e-contracts matter?

• They ensure legal obligations are met.

• They are only important for large businesses.

• They are outdated in the digital age.

• They are only relevant for international trade.

If Eddie agrees to Snapchat’s terms of service, but then reverse-engineers Snapchat’s software to create competing software, has he breached his contract with Snapchat?

• Yes, because he violated the terms of service.

• No, because he created new software.

• Yes, because he used Snapchat’s platform.

• No, because reverse-engineering is allowed.

What are the sources of Contract Law?

• The Common Law and The Uniform Commercial Code (UCC)

• The Civil Code and The Penal Code

• The Constitution and The Bill of Rights

• The Statutory Law and The Case Law

What is the definition of a contract?

• A promise that cannot be enforced in court

• An agreement that can be enforced in court

• A suggestion that is legally binding

• A verbal understanding between parties

According to the Objective Theory of Contracts, how is intent judged?

• By the financial status of the parties

• By the location of the contract signing

• By what party said, how party acted, and circumstances surrounding the transaction

• By the duration of the contract

Which of the following is a requirement of a valid contract?

• Voluntary consent

• Fraud

• Agreement

• Statute of Frauds

What is one of the defenses to the enforceability of a contract?

• Consideration

• Contractual capacity

• Legality

• Voluntary consent

Which of the following is NOT a requirement of a valid contract?

• Consideration

• Form

• Contractual capacity

• Legality

What can affect voluntary consent in a contract?

• Agreement

• Statute of Frauds

• Fraud

• Legality

What is a characteristic of a bilateral contract?

• Promise for an act

• Requires special form

• Promise for a promise

• Formed by conduct of parties