LEGAL 2700 EXAM 3 JESSICA TRIPP ACTUAL
PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉ Why do we preform under contracts. Answer: 1) Courts enforce
contracts
2) Financial Consequences
3) Keep business relationships/reputation
◉ Sources of Contract Law. Answer: Legislation: contracts for
"goods" - Uniform Commercial Code
Common Law: all other contracts - Judges' Decisions (services, real
property, employment)
◉ Types of Contracts. Answer: Bilateral vs. Unilateral
Express vs. Implied
Executory vs. Executed
Valid vs. Unenforceable vs. Voidable vs. Void
◉ Bilateral Contract. Answer: promise for a promise
both parties have duty to preform once contract is performed
,Tod's promise to pay $40 for comforter. Dr. Ho promises to deliver
comforter.
◉ Unilateral Contract. Answer: An agreement with only one person.
Only one party is obligated to perform.
Tod's promise to transfers his car to Joe upon performance. Joe's
right to receive the car if he performs.
◉ Express Contracts. Answer: The parties show their agreement in
words.
◉ Implied-in-fact Contract. Answer: a contract in which agreement
between parties has been inferred from their conduct
◉ Implied-in-law contract. Answer: judicial remedy to prevent one
party from receiving unjust enrichment.
remedy applies when no actual contract exists to cover the dispute
◉ Fiola hires Tring Painters to paint her living room. She selects
deluxe paints that will cost her $200. When the painters begin their
work, Fiola notices that they are mistakenly using washable finesse
paints, which will cost her $500. When the work is done, Fiola
refuses to pay Tring Painters the $500 saying she wanted paints that
would cost $200.. Answer: Implied-in-law contract: Tring paint
wanted to use $200 paint not $500 paint
,◉ Enforceable. Answer: agreement will be upheld in court
◉ Unenforceable. Answer: when the parties intend to form a valid
bargain but some rule of law prevents enforcement
◉ Executed vs. Executory Contract. Answer: Executed: fully
performed
Executory: performance yet to be completed
◉ Valid. Answer: agreement is enforceable bc all elements are met
◉ Void. Answer: agreement lacks an essential element
◉ At what point is Tod's contract with Dr. Ho executed?
At what is Tod's contract with his roommate executed?. Answer:
Executed when Tod sends $40
When Tod transfers car to Joe/Joe performs
◉ Offer. Answer: contains a specific promise and a specific demand
offeror must intent to make the offer by making a commitment to
the offeree
contractual terms must be definite and specific
, ◉ Voidable. Answer: at least one party can withdraw
◉ Exception to requirement for definite terms. Answer: Sale of
goods (UCC): The parties may leave open non-quantity terms to be
determined later
◉ Rick's Hardware calls SteelMow and places an order for 15 riding
lawnmowers and says they can settle on the price later. SteelMow
accepts. When SteelMow reaches out to settle on a price, Rick's
Hardware says it decided to buy mowers from another vendor and
it's not bound because they never settled on a price.. Answer: Sale of
goods: lawnmower is a movable tangible item, have enforceable
contract because SteelMow accepted (known quantity)
◉ Termination of an offer. Answer: revocation, rejection,
counteroffer, expiration of time, death or insanity, destruction of
subject matter, illegality of subject matter
◉ Harry offers Tanya $800,000 for her condo in NYC. Tanya reviews
Harry's offer and and offers to sell her condo to Harry for 850,000.
Disappointed Harry decides he doesn't want the condo. Realizing
Harry is walking away, Tanya tells Harry she will accept the
$800,000. Harry no longer wants to purchase the condo. Can Tanya
force Harry to buy the condo?. Answer: Real property for sale (UCC
doesn't apply)
PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉ Why do we preform under contracts. Answer: 1) Courts enforce
contracts
2) Financial Consequences
3) Keep business relationships/reputation
◉ Sources of Contract Law. Answer: Legislation: contracts for
"goods" - Uniform Commercial Code
Common Law: all other contracts - Judges' Decisions (services, real
property, employment)
◉ Types of Contracts. Answer: Bilateral vs. Unilateral
Express vs. Implied
Executory vs. Executed
Valid vs. Unenforceable vs. Voidable vs. Void
◉ Bilateral Contract. Answer: promise for a promise
both parties have duty to preform once contract is performed
,Tod's promise to pay $40 for comforter. Dr. Ho promises to deliver
comforter.
◉ Unilateral Contract. Answer: An agreement with only one person.
Only one party is obligated to perform.
Tod's promise to transfers his car to Joe upon performance. Joe's
right to receive the car if he performs.
◉ Express Contracts. Answer: The parties show their agreement in
words.
◉ Implied-in-fact Contract. Answer: a contract in which agreement
between parties has been inferred from their conduct
◉ Implied-in-law contract. Answer: judicial remedy to prevent one
party from receiving unjust enrichment.
remedy applies when no actual contract exists to cover the dispute
◉ Fiola hires Tring Painters to paint her living room. She selects
deluxe paints that will cost her $200. When the painters begin their
work, Fiola notices that they are mistakenly using washable finesse
paints, which will cost her $500. When the work is done, Fiola
refuses to pay Tring Painters the $500 saying she wanted paints that
would cost $200.. Answer: Implied-in-law contract: Tring paint
wanted to use $200 paint not $500 paint
,◉ Enforceable. Answer: agreement will be upheld in court
◉ Unenforceable. Answer: when the parties intend to form a valid
bargain but some rule of law prevents enforcement
◉ Executed vs. Executory Contract. Answer: Executed: fully
performed
Executory: performance yet to be completed
◉ Valid. Answer: agreement is enforceable bc all elements are met
◉ Void. Answer: agreement lacks an essential element
◉ At what point is Tod's contract with Dr. Ho executed?
At what is Tod's contract with his roommate executed?. Answer:
Executed when Tod sends $40
When Tod transfers car to Joe/Joe performs
◉ Offer. Answer: contains a specific promise and a specific demand
offeror must intent to make the offer by making a commitment to
the offeree
contractual terms must be definite and specific
, ◉ Voidable. Answer: at least one party can withdraw
◉ Exception to requirement for definite terms. Answer: Sale of
goods (UCC): The parties may leave open non-quantity terms to be
determined later
◉ Rick's Hardware calls SteelMow and places an order for 15 riding
lawnmowers and says they can settle on the price later. SteelMow
accepts. When SteelMow reaches out to settle on a price, Rick's
Hardware says it decided to buy mowers from another vendor and
it's not bound because they never settled on a price.. Answer: Sale of
goods: lawnmower is a movable tangible item, have enforceable
contract because SteelMow accepted (known quantity)
◉ Termination of an offer. Answer: revocation, rejection,
counteroffer, expiration of time, death or insanity, destruction of
subject matter, illegality of subject matter
◉ Harry offers Tanya $800,000 for her condo in NYC. Tanya reviews
Harry's offer and and offers to sell her condo to Harry for 850,000.
Disappointed Harry decides he doesn't want the condo. Realizing
Harry is walking away, Tanya tells Harry she will accept the
$800,000. Harry no longer wants to purchase the condo. Can Tanya
force Harry to buy the condo?. Answer: Real property for sale (UCC
doesn't apply)
