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

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Question #1
Between or pertaining to businesses
A.   Private
B.   Public
C.   Statute of Frauds
D.   Commercial
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.   Donation
D.   Merchants
Question #3
Includes patents, trademarks, copyrights, trade secrets
A.   Personal Property
B.   Intellectual Property
C.   Statute of Frauds
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.   Good Faith
B.   Commercial Clause
C.   Valid
D.   Fair Dealing
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.   Statute of Frauds
B.   Law of Evidence
C.   Restatement
D.   Uniform Commercial Code (UCC)
Question #6
Also called real property or realty, consists of land and buildings
A.   Real Estate
B.   Personal Property
C.   Pleading
D.   Intellectual Property
Question #7
Secondary authority; a compilation of the "best" of the common law of contracts
A.   Restatement
B.   Formal
C.   Compensatory
D.   Informal
Question #8
Also called chattel or goods; tangible, moveable items
A.   Tacit
B.   Express
C.   Personal Property
D.   Statute of Frauds
Question #9
Has no physical existence, such as debt
A.   Tangible Property
B.   Real Property
C.   Intangible Property
D.   Personal Property
Question #10
Law from judicial decisions; governs contract disputes involving real property, intangible property, and services; also called precedent
A.   Quasi-Contract
B.   Statute of Frauds
C.   Manifestation of Mutual Assent
D.   Common law
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.   Consumers
B.   Merchants
C.   Experts
D.   Executives

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