BUL 4421 Final - FAU Gendler / Newest 2025/2026 Comprehensive Study Guide – Expert Strategies, Review of Key Quizzes, and Practice Questions for Guaranteed Success(REAL DEAL)

BUL 4421 Final - FAU Gendler / Newest 2025/2026 Comprehensive Study Guide
– Expert Strategies, Review of Key Quizzes, and Practice Questions for
Guaranteed Success(REAL DEAL)


Question 1
Which of the following are the four essential elements required for a legally enforceable
contract?
A) Offer, Acceptance, Writing, and Performance
B) Capacity, Legality, Agreement, and Consideration
C) Intent, Form, Legality, and Capacity
D) Consideration, Agreement, Writing, and Intent
Correct Answer: B) Capacity, Legality, Agreement, and Consideration
Rationale: For a contract to be valid and enforceable, it must have these four core elements:
1) Agreement (offer and acceptance), 2) Consideration (a bargained-for exchange), 3)
Contractual Capacity (the legal ability to enter a contract), and 4) Legal Object (the subject
matter must be legal).

Question 2
The objective theory of contracts bases the existence of a contract on:
A) The subjective or secret intentions of the parties.
B) How a reasonable person would interpret the outward manifestations of intent.
C) The fairness of the bargain.
D) The written words of the contract only.
Correct Answer: B) How a reasonable person would interpret the outward manifestations of
intent.
Rationale: This theory is the foundation of contract law. Courts are not concerned with what a
party was secretly thinking but rather with their objective actions—what they said and did—
and how a reasonable person would interpret those actions.

Question 3
A contract is formed as soon as the promises are exchanged. This describes what type of
contract?
A) Unilateral Contract

,B) Bilateral Contract
C) Implied Contract
D) Void Contract
Correct Answer: B) Bilateral Contract
Rationale: A bilateral contract is a "promise for a promise." The contract is created the
moment the offeree promises to perform, creating a mutual exchange of promises.

Question 4
A coffee shop offers a loyalty card where the 10th coffee is free. A customer buys their 10th
coffee. This creates what type of contract?
A) Bilateral Contract
B) Unilateral Contract
C) Express Contract
D) Voidable Contract
Correct Answer: B) Unilateral Contract
Rationale: A unilateral contract is a "promise for a requested action." The coffee shop
(offeror) promised a free coffee in exchange for the action of buying nine coffees. The contract
is formed and the promise becomes enforceable only when the customer performs the
action.

Question 5
A patient goes to the dentist for a toothache. The dentist examines the tooth and removes it.
The patient is expected to pay for the service. This is an example of what type of contract?
A) Express Contract
B) Implied Contract
C) Void Contract
D) Unilateral Contract
Correct Answer: B) Implied Contract
Rationale: An implied (or implied-in-fact) contract arises from the conduct of the parties
rather than from written or spoken words. The actions of going to the dentist and accepting
treatment imply an agreement to pay for the service.

,Question 6
A contract entered into by a minor is generally considered:
A) Void
B) Voidable
C) Unenforceable
D) Valid
Correct Answer: B) Voidable
Rationale: To protect minors, the law gives them the right to disaffirm (or avoid) a contract.
This means the contract is voidable at the option of the minor, but the adult party is bound by
it.

Question 7
Which defense to a contract's enforcement asserts that one party was forced into the
agreement through threats or coercion?
A) Lack of Genuine Assent
B) Lack of Proper Form
C) No Consideration
D) Lack of Capacity
Correct Answer: A) Lack of Genuine Assent
Rationale: Genuine assent means the parties entered into the contract knowingly and
voluntarily. If assent is secured through improper means like duress, fraud, or undue
influence, the contract is voidable.

Question 8
Which of the following is NOT a required material term for an offer to be considered definite
and certain?
A) Subject matter
B) Price
C) The date of the offer
D) Quantity
Correct Answer: C) The date of the offer

, Rationale: The material terms necessary for a valid offer include the subject matter, price,
quantity, quality, and the parties involved. The date the offer is made is not considered an
essential term for the offer itself.

Question 9
An offeror tells an offeree, "I will sell you my car for $5,000, and I will keep this offer open for
you until Friday." On Wednesday, the offeror sells the car to someone else. Has the offeror
wrongfully revoked the offer?
A) Yes, because they promised to keep it open until Friday.
B) No, unless the offeree paid to keep the offer open.
C) Yes, because the offeree detrimentally relied on the promise.
D) No, because all offers are revocable.
Correct Answer: B) No, unless the offeree paid to keep the offer open.
Rationale: An offer is generally revocable at any time before acceptance, even if the offeror
promises to keep it open. An exception is an "option contract," where the offeree gives
consideration (pays something) in exchange for the offeror's promise to hold the offer open.

Question 10
An offeree reasonably relies on an offeror's promise to hold an offer open and takes action
based on that reliance. The offeror then tries to revoke the offer. A court may prevent the
revocation under the doctrine of:
A) Promissory Estoppel
B) Accord and Satisfaction
C) Preexisting Duty
D) Illusory Promise
Correct Answer: A) Promissory Estoppel
Rationale: Promissory estoppel can be used to prevent an offeror from revoking an offer if the
offeree has taken significant action in reasonable reliance on the offer being held open
(detrimental reliance).