LAW 3220 Chapter 8 Questions
Complied With Correct Answers
Identify rthe rtrue rstatements rabout rthe rUniform rCommercial rCode r(UCC). r(Check rall
rthat rapply.) r- rCORRECT✅✅Article r2 rof rthe rUCC rcovers rthe rsale rof rgoods.
It ris ran rexample rof rstate-based rlegislation rimpacting rcontract rlaw.
Every rstate rhas radopted rsome rversion rof rArticle r2 rof rthe rUniform rCommercial rCode
r(UCC) rthat rhas rresulted rin r_____. r- rCORRECT✅✅state rcontract rlaw rbeing
rrelatively runiform rin rthe rarea rof rgoods rcontracts
A runilateral rcontract ris
A rbilateral rcontract ris r- rCORRECT✅✅an ragreement rinvolving ronly rone rpromise.
an ragreement rcontaining rmutual rpromises.
A rbilateral rcontract
A runilateral rcontract r- rCORRECT✅✅It rinvolves ra rpromise rfor ra rpromise.
It rinvolves rthe rmaker rof ra rpromise rseeking ran raction rrather rthan ra rpromise rin rreturn.
Base rCorp., ra rconstruction rcompany, rpromises rRobert rto rundertake rthe rrenovation
rof rhis rbeach rresort rin rexchange rfor ra rparticular rsum rof rmoney. rRobert ragrees rto
rpay rthe rrequested ramount rof rmoney rin rreturn. rIn rthis rscenario, rthe ragreement
rbetween rRobert rand rBase rCorp. ris rknown ras ra(n) r_____ rcontract. r-
rCORRECT✅✅bilateral
A rcontract ris ra r_____. r- rCORRECT✅✅legally renforceable rpromise ror ran rexchange
rof rpromises
An rexpress rcontract
An rimplied-in-fact rcontract r- rCORRECT✅✅A rbuyer rdiscusses rthe rterms rand
rconditions rof rthe rpurchase rof ran rapartment rwith rthe rproperty rdealer rbefore rsigning
rthe ragreement.
An rindividual rasks ra rcorporate rattorney rfor rprofessional radvice ron rsetting rup ra
rbusiness.
Express rcontracts
, Implied-in-fact rcontract r- rCORRECT✅✅They rarise rfrom rinteractions rin rwhich rthe
rparties ractually rdiscuss rthe rpromised rterms rof rtheir ragreement.
They rarise rfrom rthe rconduct rof rthe rparties rrather rthan rfrom rwords.
Which rof rthe rfollowing ris rtrue rif rpeople rentering rinto ran ragreement rin rprivate
renterprise rdo rnot rrecognize rthat rthey rare rmaking ra rlegally renforceable rpromise? r-
rCORRECT✅✅Contract rlaw rwill rstill rapply.
Identify ra rfeature rof ran rimplied-in-law rcontract. r- rCORRECT✅✅There ris rno ractual
rcontractual ragreement rinvolved.
Identify ran rexample rthat rillustrates ra rbilateral rcontract. r- rCORRECT✅✅Rex
rpromises rto rsell ra rpainting rto rLiz rin rreturn rfor rher rpromise rto rpay rthe rrequested
ramount rto rRex. r
(promise rfor rPromise)
Identify rthe rtrue rstatements rabout rcontract rlaw rin rprivate renterprises. r(Check rall rthat
rapply.) r- rCORRECT✅✅It rprovides renormous rprecision rand rflexibility rin rbusiness
rdealings.
It renables rprivate ragreements rto rbe rlegally renforceable
Unlike ran renforceable rcontract, ran runenforceable rcontract ris rone rin rwhich r_____. r-
rCORRECT✅✅a rdefense rexists rthat rdenies rthe rlegal renforcement rof rthe
ragreement
The rphrase r"quasi-contract" ris ralso rused rfor ran rimplied-in-law rcontract rsince r_____.
r- rCORRECT✅✅there rreally ris rno ractual rcontractual ragreement
A rcontract rthat rappears rto rbe ran ragreement rbut rlacks ran ressential rrequirement rfor
renforceability rand rvalidity ris rknown ras ra(n) r_____ rcontract. r- rCORRECT✅✅void
An renforceable rcontract
An runenforceable rcontract r- rCORRECT✅✅It ris rcreated rwhen ra rcourt rupholds rthe
rvalidity rof rpromises rmade rby rparties rto rperform ror rto rpay rthe rconsequences rfor rthe
rfailure rof rperformance.
It ris rcreated rwhen ra rnonperforming rparty rhas ra rjustifiable rreason rfor rnoncompliance
rwith ra rpromise.
An ragreement rwhen rat rleast rone rparty rhas rthe rright rto rwithdraw rfrom rthe rpromise
rmade rwithout rincurring rany rlegal rliability ris rknown ras ra(n) rcontract. r-
rCORRECT✅✅voidable
An rexecuted rcontract
Complied With Correct Answers
Identify rthe rtrue rstatements rabout rthe rUniform rCommercial rCode r(UCC). r(Check rall
rthat rapply.) r- rCORRECT✅✅Article r2 rof rthe rUCC rcovers rthe rsale rof rgoods.
It ris ran rexample rof rstate-based rlegislation rimpacting rcontract rlaw.
Every rstate rhas radopted rsome rversion rof rArticle r2 rof rthe rUniform rCommercial rCode
r(UCC) rthat rhas rresulted rin r_____. r- rCORRECT✅✅state rcontract rlaw rbeing
rrelatively runiform rin rthe rarea rof rgoods rcontracts
A runilateral rcontract ris
A rbilateral rcontract ris r- rCORRECT✅✅an ragreement rinvolving ronly rone rpromise.
an ragreement rcontaining rmutual rpromises.
A rbilateral rcontract
A runilateral rcontract r- rCORRECT✅✅It rinvolves ra rpromise rfor ra rpromise.
It rinvolves rthe rmaker rof ra rpromise rseeking ran raction rrather rthan ra rpromise rin rreturn.
Base rCorp., ra rconstruction rcompany, rpromises rRobert rto rundertake rthe rrenovation
rof rhis rbeach rresort rin rexchange rfor ra rparticular rsum rof rmoney. rRobert ragrees rto
rpay rthe rrequested ramount rof rmoney rin rreturn. rIn rthis rscenario, rthe ragreement
rbetween rRobert rand rBase rCorp. ris rknown ras ra(n) r_____ rcontract. r-
rCORRECT✅✅bilateral
A rcontract ris ra r_____. r- rCORRECT✅✅legally renforceable rpromise ror ran rexchange
rof rpromises
An rexpress rcontract
An rimplied-in-fact rcontract r- rCORRECT✅✅A rbuyer rdiscusses rthe rterms rand
rconditions rof rthe rpurchase rof ran rapartment rwith rthe rproperty rdealer rbefore rsigning
rthe ragreement.
An rindividual rasks ra rcorporate rattorney rfor rprofessional radvice ron rsetting rup ra
rbusiness.
Express rcontracts
, Implied-in-fact rcontract r- rCORRECT✅✅They rarise rfrom rinteractions rin rwhich rthe
rparties ractually rdiscuss rthe rpromised rterms rof rtheir ragreement.
They rarise rfrom rthe rconduct rof rthe rparties rrather rthan rfrom rwords.
Which rof rthe rfollowing ris rtrue rif rpeople rentering rinto ran ragreement rin rprivate
renterprise rdo rnot rrecognize rthat rthey rare rmaking ra rlegally renforceable rpromise? r-
rCORRECT✅✅Contract rlaw rwill rstill rapply.
Identify ra rfeature rof ran rimplied-in-law rcontract. r- rCORRECT✅✅There ris rno ractual
rcontractual ragreement rinvolved.
Identify ran rexample rthat rillustrates ra rbilateral rcontract. r- rCORRECT✅✅Rex
rpromises rto rsell ra rpainting rto rLiz rin rreturn rfor rher rpromise rto rpay rthe rrequested
ramount rto rRex. r
(promise rfor rPromise)
Identify rthe rtrue rstatements rabout rcontract rlaw rin rprivate renterprises. r(Check rall rthat
rapply.) r- rCORRECT✅✅It rprovides renormous rprecision rand rflexibility rin rbusiness
rdealings.
It renables rprivate ragreements rto rbe rlegally renforceable
Unlike ran renforceable rcontract, ran runenforceable rcontract ris rone rin rwhich r_____. r-
rCORRECT✅✅a rdefense rexists rthat rdenies rthe rlegal renforcement rof rthe
ragreement
The rphrase r"quasi-contract" ris ralso rused rfor ran rimplied-in-law rcontract rsince r_____.
r- rCORRECT✅✅there rreally ris rno ractual rcontractual ragreement
A rcontract rthat rappears rto rbe ran ragreement rbut rlacks ran ressential rrequirement rfor
renforceability rand rvalidity ris rknown ras ra(n) r_____ rcontract. r- rCORRECT✅✅void
An renforceable rcontract
An runenforceable rcontract r- rCORRECT✅✅It ris rcreated rwhen ra rcourt rupholds rthe
rvalidity rof rpromises rmade rby rparties rto rperform ror rto rpay rthe rconsequences rfor rthe
rfailure rof rperformance.
It ris rcreated rwhen ra rnonperforming rparty rhas ra rjustifiable rreason rfor rnoncompliance
rwith ra rpromise.
An ragreement rwhen rat rleast rone rparty rhas rthe rright rto rwithdraw rfrom rthe rpromise
rmade rwithout rincurring rany rlegal rliability ris rknown ras ra(n) rcontract. r-
rCORRECT✅✅voidable
An rexecuted rcontract
