JD Next Multiple Choice Exam Practice
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
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1. What is a contract? - Correct Answer: Agreement between parties,
creating mutual obligations that are enforceable by law.
2. What three things must a contract have? - Correct Answer: 1) Offer
2) Consideration
3) Acceptance
3. Bilateral Contract - Correct Answer: Seeks acceptance by return
promise.
4. Unilateral Contract - Correct Answer: Seeks acceptance by a return
performance.
5. Illusory Promise - Correct Answer: A promise that is unenforceable due
to indefiniteness or lack of mutuality, where only one side is bound to
perform.
,6. Joe asked Harry for a ride to the airport. Harry agreed and was happy to
help his friend. Joe said he would treat Harry to coffee next week as a
thank-you for the ride. That next week Joe called Harry and told him that he
was too tired from traveling and wouldn't treat him to a coffee after all.
What would a court likely decide? - Correct Answer: Joe and Harry did
not have a valid contract since consideration is based on a past event
7. Offer - Correct Answer: A proposal made by one party that he/she is
willing to enter a contract.
8. Acceptance - Correct Answer: Unqualified agreement by the offeree to
be bound by the offer is known as
9. Which is a falce statement about a unilateral offer? - Correct Answer:
An offer that cannot be withdrawn.
10.What is an offeree? - Correct Answer: Person to whom the offer is made
and whom now has the power of acceptance.
11.What is an offerer? - Correct Answer: Person who makes the offer and
now has the power to control the offer.
12.In the context of contract law, which of the following scenarios is an
example of an illusory promise? - Correct Answer: Phyllis promises to
bake cookies for the office party, but only if she feels like it on the day of the
event.
, 13.No, one cannot promise to "give up" something that he/she does not have
the legal right to do and it be consideration for a legally binding contract. -
Correct Answer: Is a contract formed if the promisee offers the
promisor $ in the exchange for the promisee withholding to engage in
behavior that is not his legal right to do. (I will give you $100, if you refrain
from stealing from your mom.)
14.Yes, because the company is paying a bargained-for, valuable amount to
rent the office space. - Correct Answer: A company is negotiating a
contract to lease an office space in a prestigious downtown building. The
standard market rate for similar office spaces in the area is $5,000 per
month. However, due to a long-standing business relationship, the company
secured the lease for only $3,000 per month. The previous year, the
company had leased the same office space for $2,500 per month. Does
adequate consideration support the contract for the office space lease?
15.No, it is an invitation because no performance is promised in return for
something requested. - Correct Answer: You place an ad in the
Newspaper as follows:
"For sale, one-acre plot off County Road 7, $5,000 minimum bid."
Would this advertisement be considered an offer?
16.No, because this is a gratuitous promise - Correct Answer: Aaron is at
dinner with his friends. They order five drinks and are a little intoxicated.
While they were joking around, Aaron's friends promise to buy him new
shoes if he gets all As this semester. They shake on the offer. Aaron works
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Instant Download Pdf
1. What is a contract? - Correct Answer: Agreement between parties,
creating mutual obligations that are enforceable by law.
2. What three things must a contract have? - Correct Answer: 1) Offer
2) Consideration
3) Acceptance
3. Bilateral Contract - Correct Answer: Seeks acceptance by return
promise.
4. Unilateral Contract - Correct Answer: Seeks acceptance by a return
performance.
5. Illusory Promise - Correct Answer: A promise that is unenforceable due
to indefiniteness or lack of mutuality, where only one side is bound to
perform.
,6. Joe asked Harry for a ride to the airport. Harry agreed and was happy to
help his friend. Joe said he would treat Harry to coffee next week as a
thank-you for the ride. That next week Joe called Harry and told him that he
was too tired from traveling and wouldn't treat him to a coffee after all.
What would a court likely decide? - Correct Answer: Joe and Harry did
not have a valid contract since consideration is based on a past event
7. Offer - Correct Answer: A proposal made by one party that he/she is
willing to enter a contract.
8. Acceptance - Correct Answer: Unqualified agreement by the offeree to
be bound by the offer is known as
9. Which is a falce statement about a unilateral offer? - Correct Answer:
An offer that cannot be withdrawn.
10.What is an offeree? - Correct Answer: Person to whom the offer is made
and whom now has the power of acceptance.
11.What is an offerer? - Correct Answer: Person who makes the offer and
now has the power to control the offer.
12.In the context of contract law, which of the following scenarios is an
example of an illusory promise? - Correct Answer: Phyllis promises to
bake cookies for the office party, but only if she feels like it on the day of the
event.
, 13.No, one cannot promise to "give up" something that he/she does not have
the legal right to do and it be consideration for a legally binding contract. -
Correct Answer: Is a contract formed if the promisee offers the
promisor $ in the exchange for the promisee withholding to engage in
behavior that is not his legal right to do. (I will give you $100, if you refrain
from stealing from your mom.)
14.Yes, because the company is paying a bargained-for, valuable amount to
rent the office space. - Correct Answer: A company is negotiating a
contract to lease an office space in a prestigious downtown building. The
standard market rate for similar office spaces in the area is $5,000 per
month. However, due to a long-standing business relationship, the company
secured the lease for only $3,000 per month. The previous year, the
company had leased the same office space for $2,500 per month. Does
adequate consideration support the contract for the office space lease?
15.No, it is an invitation because no performance is promised in return for
something requested. - Correct Answer: You place an ad in the
Newspaper as follows:
"For sale, one-acre plot off County Road 7, $5,000 minimum bid."
Would this advertisement be considered an offer?
16.No, because this is a gratuitous promise - Correct Answer: Aaron is at
dinner with his friends. They order five drinks and are a little intoxicated.
While they were joking around, Aaron's friends promise to buy him new
shoes if he gets all As this semester. They shake on the offer. Aaron works
