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

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Question #1
Between or pertaining to businesses
A.   Statute of Frauds
B.   Commercial
C.   Private
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.   Executory
B.   Merchants
C.   Consumer
D.   Donation
Question #3
Includes patents, trademarks, copyrights, trade secrets
A.   Personal Property
B.   Real Property
C.   Statute of Frauds
D.   Intellectual 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.   Valid
B.   Fair Dealing
C.   Good Faith
D.   Commercial Clause
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.   Restatement
C.   Law of Evidence
D.   Uniform Commercial Code (UCC)
Question #6
Also called real property or realty, consists of land and buildings
A.   Personal Property
B.   Pleading
C.   Intellectual Property
D.   Real Estate
Question #7
Secondary authority; a compilation of the "best" of the common law of contracts
A.   Formal
B.   Informal
C.   Compensatory
D.   Restatement
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.   Real Property
B.   Intangible Property
C.   Tangible Property
D.   Personal 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.   Statute of Frauds
C.   Common law
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.   Consumers
B.   Experts
C.   Merchants
D.   Executives

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