BUL 5810 FSU COMPREHENSIVE REVIEW
QUESTIONS AND ANSWERS VERIFIED SET
●● Any property other than an interest in real property, is/are:
a. tangible property.
b. intangible property.
c. goods.
d. personal property.
Answer: d. personal property.
●● Which of the following is NOT always necessary in order for a valid
contract to be formed?
a. Mutual assent
b. Legality of purpose
c. A writing
d. Consideration
Answer: c. A writing
●● In order to have a valid contract, in addition to the four basic
requirements of a contract, which of the following must also occur?
a. The consideration that one party is giving the other must be of the
same value as the consideration that is being received.
,b. There must be the sale of goods from one party to another.
c. There must be an absence of invalidating conduct, such as duress.
d. Both parties must already have performed (done what they promised
to do)
Answer: c. There must be an absence of invalidating conduct, such as
duress.
●● What is a requirement of an express contract?
a. It is written and signed.
b. It is based on the conduct of the parties.
c. The terms are stated in words.
d. It consists of a promise in exchange for an act.
Answer: c. The terms are stated in words.
●● If both parties exchange promises, the contract is:
a. bilateral.
b. void.
c. implied.
d. executed.
Answer: a. bilateral.
●● When might a contract might be unenforceable?
a. If the purpose of the contract was to commit a tort.
,b. If one party has not yet performed, but the other party has fully
performed.
c. If the statute of limitations has passed.
d. If the parties could not reach an agreement.
Answer: c. If the statute of limitations has passed.
●● The doctrine of promissory estoppel:
a. is a doctrine enforcing contractual promises.
b. applies even if the promisor should not have expected the promisee to
rely on the promise.
c. applies even if the promisee does not rely on the promise.
d. is a doctrine that relies on justice and not contractual rights.
Answer: d. is a doctrine that relies on justice and not contractual rights.
●● Another name for a quasi contract is:
a. promissory estoppels.
b. an implied in fact contract.
c. an implied in law contract.
d. an unenforceable contract.
Answer: c. an implied in law contract.
●● Which of the following is required in order to recover in quasi
contract?
, a. An implied or express promise
b. A valid contract
c. Acceptance or retention of a benefit conferred on the defendant by the
plaintiff
d. A voidable contract
Answer: c. Acceptance or retention of a benefit conferred on the
defendant by the plaintiff
●● Contracts that are implied in law:
a. are obligations imposed by law on grounds of justice and equity.
b. are really contracts.
c. are also called implied in fact contracts
d. require the assent of the contracting parties.
Answer: a. are obligations imposed by law on grounds of justice and
equity.
●● Molly signs a contract with a publishing company to edit text
manuscripts. This contract is governed by
a. state common law.
b. federal statute.
c. the law of quasi contract.
d. Article 2 of the UCC.
Answer: a. state common law.
QUESTIONS AND ANSWERS VERIFIED SET
●● Any property other than an interest in real property, is/are:
a. tangible property.
b. intangible property.
c. goods.
d. personal property.
Answer: d. personal property.
●● Which of the following is NOT always necessary in order for a valid
contract to be formed?
a. Mutual assent
b. Legality of purpose
c. A writing
d. Consideration
Answer: c. A writing
●● In order to have a valid contract, in addition to the four basic
requirements of a contract, which of the following must also occur?
a. The consideration that one party is giving the other must be of the
same value as the consideration that is being received.
,b. There must be the sale of goods from one party to another.
c. There must be an absence of invalidating conduct, such as duress.
d. Both parties must already have performed (done what they promised
to do)
Answer: c. There must be an absence of invalidating conduct, such as
duress.
●● What is a requirement of an express contract?
a. It is written and signed.
b. It is based on the conduct of the parties.
c. The terms are stated in words.
d. It consists of a promise in exchange for an act.
Answer: c. The terms are stated in words.
●● If both parties exchange promises, the contract is:
a. bilateral.
b. void.
c. implied.
d. executed.
Answer: a. bilateral.
●● When might a contract might be unenforceable?
a. If the purpose of the contract was to commit a tort.
,b. If one party has not yet performed, but the other party has fully
performed.
c. If the statute of limitations has passed.
d. If the parties could not reach an agreement.
Answer: c. If the statute of limitations has passed.
●● The doctrine of promissory estoppel:
a. is a doctrine enforcing contractual promises.
b. applies even if the promisor should not have expected the promisee to
rely on the promise.
c. applies even if the promisee does not rely on the promise.
d. is a doctrine that relies on justice and not contractual rights.
Answer: d. is a doctrine that relies on justice and not contractual rights.
●● Another name for a quasi contract is:
a. promissory estoppels.
b. an implied in fact contract.
c. an implied in law contract.
d. an unenforceable contract.
Answer: c. an implied in law contract.
●● Which of the following is required in order to recover in quasi
contract?
, a. An implied or express promise
b. A valid contract
c. Acceptance or retention of a benefit conferred on the defendant by the
plaintiff
d. A voidable contract
Answer: c. Acceptance or retention of a benefit conferred on the
defendant by the plaintiff
●● Contracts that are implied in law:
a. are obligations imposed by law on grounds of justice and equity.
b. are really contracts.
c. are also called implied in fact contracts
d. require the assent of the contracting parties.
Answer: a. are obligations imposed by law on grounds of justice and
equity.
●● Molly signs a contract with a publishing company to edit text
manuscripts. This contract is governed by
a. state common law.
b. federal statute.
c. the law of quasi contract.
d. Article 2 of the UCC.
Answer: a. state common law.
