Paralegal 041 - Contract Law » 2019 » Chapter 3 Review Materials

Need help with your exam preparation?

Existing Quiz Clients Login here
Question #1
Compliance or agreement by one party with the terms of another's offer so that a contract forms
A.   Acceptance
B.   Statute of Frauds
C.   Private
D.   Public
Question #2
An offer, supported by consideration, may not be revoked at will
A.   Option
B.   Executory
C.   Merchants
D.   Donation
Question #3
Party making an offer
A.   Offeror
B.   Real Property
C.   Statute of Frauds
D.   Personal Property
Question #4
Party receiving an offer
A.   Fair Dealing
B.   Commercial Clause
C.   Valid
D.   Offeree
Question #5
UCC rule, overrides mirror image rule when merchants use forms
A.   Statute of Frauds
B.   Law of Evidence
C.   Battle of the Forms Rule
D.   Restatement
Question #6
Used to determine whether parties had "meeting of the minds," looks to what a reasonable person would believe, based on circumstances
A.   Intellectual Property
B.   Pleading
C.   Personal Property
D.   Objective Standard
Question #7
UCC rule, no consideration required to hold offer open between merchants
A.   Compensatory
B.   Formal
C.   Firm Offer
D.   Informal
Question #8
An indication of current willingness to enter into a contract, communicated by the person making the offer
A.   Statute of Frauds
B.   Tacit
C.   Offer
D.   Express
Question #9
Also called "gap-filling" provisions; under the UCC a contract may form despite failure to specify certain terms
A.   Personal Property
B.   Real Property
C.   Open Terms
D.   Tangible Property
Question #10
Offeree responds to an offer with an offer
A.   Quasi-Contract
B.   Manifestation of Mutual Assent
C.   Counter Offer
D.   Statute of Frauds
Question #11
Events, including death, insanity, destruction of subject matter, and illegality, may terminate an offer
A.   Operation of Law
B.   Experts
C.   Executives
D.   Consumers
Question #12
Offeree terminates offer
A.   Rejection
Question #13
A seller agrees to sell to the highest bidder and cannot revoke the offer to sell, even if bids are disappointingly low
A.   Auction Without Reserve

Need help with your exam preparation?

Existing Quiz Clients Login here