USA: +1(669)289-8683 
Sign in
| Question 1 of 205.0 PointsThe intentional misstatement or nondisclosure of a material fact made by one party with the hope of influencing the other party amounts to:A. fraud. B. duress. C. mistake. D. misrepresentation. Reset Selection |
| Question 2 of 205.0 PointsAn injured party who can successfully prove fraud may have the remedy to:A. claim specific performance. B. extend the contract. C. accept the contract. D. bring suit for damages. Reset Selection |
| Question 3 of 205.0 PointsSometimes a person has the power to control the actions of another because of a special or confidential relationship to that person. If this power is improperly used to his or her personal advantage, then it amounts to:A. mistake. B. misrepresentation. C. undue influence. D. duress. Reset Selection |
| Question 4 of 205.0 PointsSometimes a person has the power to control the actions of another because of a special or confidential relationship to that person. Such relationships are found in all of the following, EXCEPT that of a(n):A. employer and an employee. B. physician or nurse and a patient. C. attorney and a client. D. client and vendor. Reset Selection |
| Question 5 of 205.0 PointsWhile courts have long been reluctant to uphold unconscionable contracts, more recently, however, the UCC has made such contracts even less likely to be:A. enforced. B. reduced into writing. C. agreed. D. notified. Reset Selection |
| Question 6 of 205.0 PointsAccording to the __________, uncertainty with respect to specific terms does not necessarily invalidate a contract.A. Uniform Civil Code B. Uniform Commercial Code C. United States Commercial Code D. Uniform Contract Code Reset Selection |
| Question 7 of 205.0 PointsThe offer and acceptance by the conduct of the parties is called as a(n) __________ contract.A. express B. implied C. conduct D. social Reset Selection |
| Question 8 of 205.0 PointsA call for a bid or estimate for materials to be furnished or work to be done is not considered a(n):A. offer. B. acceptance. C. request for proposal. D. invitation to acceptance. Reset Selection |
| Question 9 of 205.0 PointsAdvertising is generally regarded as a(n):A. invitation to trade. B. firm offer. C. commitment to sell. D. executory contract. Reset Selection |
| Question 10 of 205.0 PointsThe general rule regarding the effective date and time an acceptance becomes binding is:A. when the parties intend. B. three days after receipt of the acceptance. C. three days after acceptance is sent. D. upon receipt by the offeree. Reset Selection |
| Question 11 of 205.0 PointsA legally enforceable contract:A. must not violate the law. B. can be void. C. may contain a malafide intention. D. need not be valid. Reset Selection |
| Question 12 of 205.0 PointsJack promised to pay his nineteen year-old nephew $300 on his twenty-second birthday if he refrained from smoking cigarettes until he graduated from Western State College. This contract is legal and illustrates the promise of:A. pledge or subscription. B. forbearance as consideration. C. general release. D. implied contract. Reset Selection |
| Question 13 of 205.0 PointsThe three essential characteristics of valid consideration are:A. accuracy, brevity, and clarity. B. fulfillment of social, moral and ethical obligations. C. legality, adequacy, and the possibility of performance. D. intention, practices, and policies. Reset Selection |
| Question 14 of 205.0 PointsThe element of consideration in a contract refers to the:A. competence of the parties. B. purpose of the contract. C. parties’ exchange of promises. D. form of the contract. Reset Selection |
| Question 15 of 205.0 PointsIf only one party promises something, such as paying a certain amount of money, and the other party promises nothing, then the agreement lacks:A. consideration. B. competence. C. legality of purpose. D. offer and acceptance. Reset Selection |
| Question 16 of 205.0 PointsCertain contracts, such as those involving the sale of personal property for $500 or more:A. must be orally accepted to be enforceable. B. must be written to be enforceable. C. need not be signed to be enforceable. D. must be divisible in nature. Reset Selection |
| Question 17 of 205.0 PointsA contract in which some future act or obligation remains to be performed under its terms is known as a(n) __________ contract.A. executed B. statutory C. contingent D. executory Reset Selection |
| Question 18 of 205.0 PointsWith respect to pledges and subscriptions, courts have generally held that these promises are:A. unenforceable. B. enforceable. C. enforceable only in cases involving amounts greater than $500. D. unenforceable if it is not made for a reasonable period of time. Reset Selection |
| Question 19 of 205.0 PointsThe Uniform Commercial Code dispenses with the requirement for consideration in contracts that involve:A. a merchant’s firm written offer of the irrevocable contract. B. an oral discharge of a claim for an alleged breach of contract. C. modifications on future contracts. D. modifications to executed contracts. Reset Selection |
| Question 20 of 205.0 PointsCourts may justify the enforcement of some contracts, even though there is no consideration, by stating that there was __________ consideration.A. monetary B. moral C. pecuniary D. fiscal Reset Selection |
