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

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Question #1
Between or pertaining to businesses
A.   Commercial
B.   Private
C.   Public
D.   Statute of Frauds
Question #2
Party to the contract who is not engaged in business, but has entered the contract for personal or family reasons
A.   Merchants
B.   Consumer
C.   Donation
D.   Executory
Question #3
Includes patents, trademarks, copyrights, trade secrets
A.   Personal Property
B.   Statute of Frauds
C.   Intellectual 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.   Fair Dealing
C.   Good Faith
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.   Restatement
B.   Statute of Frauds
C.   Uniform Commercial Code (UCC)
D.   Law of Evidence
Question #6
Also called real property or realty, consists of land and buildings
A.   Intellectual Property
B.   Personal Property
C.   Real Estate
D.   Pleading
Question #7
Secondary authority; a compilation of the "best" of the common law of contracts
A.   Restatement
B.   Compensatory
C.   Informal
D.   Formal
Question #8
Also called chattel or goods; tangible, moveable items
A.   Tacit
B.   Personal Property
C.   Express
D.   Statute of Frauds
Question #9
Has no physical existence, such as debt
A.   Real Property
B.   Intangible Property
C.   Personal 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.   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.   Executives
B.   Consumers
C.   Merchants
D.   Experts

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