Paralegal 041 - Contract Law » 2019 » Chapter 2 Review Materials

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Question #1
Between or pertaining to businesses
A.   Private
B.   Statute of Frauds
C.   Commercial
D.   Public
Question #2
Party to the contract who is not engaged in business, but has entered the contract for personal or family reasons
A.   Consumer
B.   Executory
C.   Merchants
D.   Donation
Question #3
Includes patents, trademarks, copyrights, trade secrets
A.   Statute of Frauds
B.   Intellectual Property
C.   Personal Property
D.   Real Property
Question #4
UCC definition: as applied to a merchant, means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade
A.   Commercial Clause
B.   Good Faith
C.   Fair Dealing
D.   Valid
Question #5
A uniform law, enacted as statutory law in all 50 states, in an attempt to harmonize the law of sales and other commercial transactions Code
A.   Uniform Commercial Code (UCC)
B.   Restatement
C.   Law of Evidence
D.   Statute of Frauds
Question #6
Also called real property or realty, consists of land and buildings
A.   Real Estate
B.   Pleading
C.   Intellectual Property
D.   Personal Property
Question #7
Secondary authority; a compilation of the "best" of the common law of contracts
A.   Informal
B.   Formal
C.   Restatement
D.   Compensatory
Question #8
Also called chattel or goods; tangible, moveable items
A.   Personal Property
B.   Express
C.   Tacit
D.   Statute of Frauds
Question #9
Has no physical existence, such as debt
A.   Intangible Property
B.   Personal Property
C.   Real Property
D.   Tangible Property
Question #10
Law from judicial decisions; governs contract disputes involving real property, intangible property, and services; also called precedent
A.   Manifestation of Mutual Assent
B.   Common law
C.   Statute of Frauds
D.   Quasi-Contract
Question #11
Deal in goods of the kind involved in transaction or, by their occupations, hold themselves out as having knowledge or skills relating to the goods or practice
A.   Merchants
B.   Experts
C.   Consumers
D.   Executives

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