Ch 10

Sal has ordered 100 pounds of shrimp for his restaurant from Sam every Friday for 5 years and has always paid that week's market price. One Friday, Sal decides to take a vacation but doesn't tell Sam. Sam claims they have a contract, even though it was never written down. What kind of contract do they have? a. implied-in-fact b. implied-in-law c. quasi d. express

a. implied-in-fact

What is the term for a contract agreement in which an offeror promises to pay after the occurrence of a specified act, and the offeree is not required to respond in words? a. unilateral contract b. open contract c. bilateral contract d. executed contract

a. unilateral contract

Which act or statement is a valid offer? a. A price quote b. A completed auction with a reserve c. A detailed advertisement d. A typical advertisement

c. A detailed advertisement

A sitcom actor, exhausted after his 10-hour workweek, agrees to buy a briefcase full of cocaine from Lewis for $12,000. Lewis and the actor have a contract. a. valid b. unenforceable c. voidable d. void

d. void

In general, certain terms must be included in contracts to satisfy the requirement of definiteness. What are the exceptions to this rule? Choose 2 answer choices. Courts can rewrite contracts even if the intent is vague. Sales contracts under the UCC If the contract is in writing, not all terms are required to be included. Courts can complete a contract to supply some missing items.

Sales contracts under the UCC Courts can complete a contract to supply some missing items.

In general, which of these contract terms is NOT required to meet the requirement of definiteness? a. The time of payment b. Acceptance c. The parties involved d. The subject matter of the contract

b. Acceptance

Which situation would be considered sufficient consideration for a contract to exist? a. Alice's grandson quit smoking, so Alice promises to give him $5,000. b. Bethany is remodeling a kitchen for Tonya. Bethany tells Tonya she will finish the work within a reasonable time if Tonya pays her a bonus. c. Pam agrees to pay Derek $500 if he does not sit next to her in class anymore. d. Alice promises to give her granddaughter $10,000.

c. Pam agrees to pay Derek $500 if he does not sit next to her in class anymore.

In what situations would a court be likely to award a quasi-contract? Choose 2 answer choices. When the unjust enrichment is a relatively insignificant amount of money If the defendant was unjustly enriched and played a part in deceiving the plaintiff When the party provided the services for unwilling recipients If the defendant did not know the plaintiff would expect to be paid for the services

When the unjust enrichment is a relatively insignificant amount of money If the defendant was unjustly enriched and played a part in deceiving the plaintiff

Quon and Bert have signed a contract for Bert to mow Quon's grass every week in June, July, and August for a price of $40 per week. They have agreed to all the necessary terms, but Bert has not yet mowed because it is still May. What type of contract do they have? a. executed b. executory c. unilateral d. void

b. executory

Consider the following scenarios: I. Madison says to a group of students, "I'll pay $35 to the first one of you who shows up at my house and mows my lawn." II. Lea posts a flyer around town that reads, "Reward: $500 for information about the person who keyed my truck last Saturday night in the Wag-a-Bag parking lot. Call Lea at 555-5309." Which of these proposes a unilateral contract? a. I only b. II only c. Both I and II d. None of these

c. Both I and II

What must a plaintiff show to be awarded a quasi-contract in a lawsuit? a. The defendant expected to be paid. b. The defendant agreed to compensate the plaintiff for the benefit received. c. The plaintiff received some benefit. d. The defendant was unjustly enriched.

d. The defendant was unjustly enriched.

What type of acceptance requires an affirmative action for the offeree to accept that offer? a. The typical type of acceptance to an offer b. Offeree's silence in response to an offer c. Browsewrap Agreements d. Unilateral contracts

d. Unilateral contracts

Rebecca, in Honolulu, faxes a job offer to Spike, in Pittsburgh, saying, "We can pay you $55,000 per year, starting June 1." Spike faxes a reply, saying, "Thank you! I accept your generous offer, though I will also need $3,000 in relocation money. See you June 1. Can't wait!" On June 1, Spike arrives and finds that his position is filled by Gus. He sues Rebecca. Answer a. Spike wins $55,000. b. Spike wins $58,000. c. Spike wins $3,000. d. Spike wins restitution. e. Spike wins nothing.

e. Spike wins nothing.

What conditions must be met for an offer to be legally accepted? Choose 2 answers. Acceptance must be unequivocal with no requests for changes in the offer. It may only be accepted by the intended offeree or the offeree's agent. The offer must be accepted within 24 hours of communication. Acceptance must be communicated in words, either written or oral.

Acceptance must be unequivocal with no requests for changes in the offer. It may only be accepted by the intended offeree or the offeree's agent.

What elements are required for courts to apply the doctrine of promissory estoppel? Choose 3 answers. There must have been consideration given with the promise. Enforcement of the promise is necessary to avoid injustice to the promisee. There was a detrimental result from reliance on the promise. The promise must be definite and relied upon.

Enforcement of the promise is necessary to avoid injustice to the promisee. There was a detrimental result from reliance on the promise. The promise must be definite and relied upon.

What are the elements of consideration? Choose 2 answer choices. a preexisting duty an exchange to which the parties agree past consideration something of value from each party

an exchange to which the parties agree something of value from each party

How may a revocable offer effectively be revoked? Choose 2 answers. The offeror may convert the offer to an option contract. The offeror may take an action that contradicts the offer and make that known to the offeree. The offeree may reject the offer with a clear expression. The offeror may withdraw the offer with a clear expression.

The offeror may take an action that contradicts the offer and make that known to the offeree. The offeror may withdraw the offer with a clear expression.

Lilly hired Harris Lawn Service to cut her grass one summer, and paid through automatic charges to her credit card. After taking three months off for winter weather, Harris staff cut Lilly's grass for four weeks in a row before charging the fees on Lilly's credit card. Lilly protested the charges, stating she did not hire the company to cut grass for the second summer. Harris sues Lilly. What law applies? Choose 2 answer choices. Lilly's silence is acceptance because of the parties' past dealings. Lilly's silence is acceptance because the offeree accepted the benefit offered. Lilly's silence is not acceptance and Harris's service in the spring is considered a gift to her. Lilly's silence is not acceptance in this case because the offeree must affirmatively accept the terms of the offer in full and communicate that acceptance to the offeror.

Lilly's silence is acceptance because of the parties' past dealings. Lilly's silence is acceptance because the offeree accepted the benefit offered.

What factors are used to judge if consideration is adequate to ensure a fair bargain? Choose 2 answers. Promises exchanged may not be a preexisting duty. Promises must be made with voluntary consent. Consideration must be a promise to pay money. Items or promises exchanged must be of nearly equal value.

Promises exchanged may not be a preexisting duty. Promises must be made with voluntary consent.

What elements are required for an offer to be effective under the common law? Choose 3 answers. The offer must be irrevocable for a set period of time to allow acceptance. The offeror must intend to be bound by the offer. The offer must be communicated to the offeree. The terms of the offer must be reasonably definite so that all parties understand them.

The offeror must intend to be bound by the offer. The offer must be communicated to the offeree. The terms of the offer must be reasonably definite so that all parties understand them.

Which of the following is a valid offer? a. Eric offers to buy Arun's house for $775,000 with no contingencies because Eric's lease ends in two months. Arun wants to think about it and six days later has not yet responded. b. Eric offers to buy Arun's house for $290,000. Arun says, "No, but I will sell it to you for $300,000." Eric seems to be upset, so Arun says he will sell it for $290,000. c. Arun tells Eric he will sell one of his houses for $250,000 by the end of the summer. d. Arun distributes flyers at work stating he wants to sell his house, listing the address and the asking price.

a. Eric offers to buy Arun's house for $775,000 with no contingencies because Eric's lease ends in two months. Arun wants to think about it and six days later has not yet responded.

How may an offer be terminated? Choose 3 answers. An offeror may terminate an offer by revocation. The offeree may make a counteroffer. A competitor to the offeror can issue a better offer for the same product or service. A reasonable amount of time has passed.

An offeror may terminate an offer by revocation. The offeree may make a counteroffer. A reasonable amount of time has passed.

What factors make an agreement enforceable under the principle of quasi-contract? Choose 2 answers. The enriching party is negligent. The enriched party knows about the benefit and keeps it. One party is being enriched at the expense of the other. The courts determine that an enforceable contract exists.

The enriched party knows about the benefit and keeps it. One party is being enriched at the expense of the other.