Question 1) Eve tells frank that she would like to buy his store. Frank decline but later decides to sell. He sends Eve and other a flyer describing the details. Eve responds with a letter of acceptance. Eve and Frank have.
(A) Contract
(B) no contract, because Frank sent the letter to more than one party
(C) no contract, because Frank was only inviting bids
(D) no contract, because the letter was an invitation to negotiate
Question 2) Coverage Interstate, Inc (CII) , coordinate an insurance network that includes 1 million potential patients. By contracting with CII, a medical provider gains access to the network in exchange for accepting payments at a lower than prevailing market rates. Doctors, Inc., contract with CII but, when a few patients are forthcoming, files a suit to recover the different between the contract and market rates. Under the reasoning of case 9.3, Seaview Orthopedics v. National Healthcare Resources, Inc., the court will likely rule that the contract is.
(A) enforceable because consideration is not required for this contract
(B) enforceable because the contract does not lack consideration
(C) not enforceable because Doctor receive few patients
(D) not enforceable because the contract lacks consideration.
Question 3) U.S Brokerage’s promise to pay its employees a year end bonus if it seems like a good idea at the time is
(A) an enforceable contract
(B) an illusory contract
(C) an unconscionable contract
(D) a unilateral contract
Question 4) First National Bank signs an agreement not to compete with City Bank that will bar City Bank from continuing to operate in the states in which both banks do almost all of their business. The agreement is likely
(A) an unreasonable restraint of trade
(B) enforceable
(C) enforceable if it is ancillary to an agreement by the First National Bank to purchase all of the assets of the City Banks
(D) none of above
Question 5) Brad runs an illegal business and pays Carl, a law enforcement officer, not to interfere . The payment are discovered. Brad and Carl are sent to prison . Brad can successfully sue Carl for the return of
(A) all of the money paid to Carl
(B) Only the money paid to Carl that has been spent
(C) only the money paid to Carl that has been spent
(D) none of the above
Question 6) Dina, an employee of eagle Industries, is injured in a work-related accident. Based on the diagnosis of Frank, a doctor , Dina accepts $50,000 from eagle and waives the right to future claims. Frank’s diagnosis later proves to have been wrong. According to the reasoning of the court in Case 11.1, Robert v. Century Contractors, Inc., Frank ‘s misdiagnosis is, in terms of its impact on Dina’s agreement with Eagle,
(A) a mutual mistake of fact
(B) a unilateral mistake of fact.
(C) fraudulent misrepresentation
(D) no fraudulent misrepresentation
Question 7) Carol and Dan enter into an oral contract for Carol’s sales to Dan of a computer monitor for $400.00 . Before Dan takes passion of the monitor, this contract is
(A) enforceable by Carol only
(B) enforceable by Dan only
(C) enforceable by either party.
(D) not enforceable
Question 8) Ron makes a contract with Sue that indirectly benefits Tim, although neither Ron nor Sue intended that result. Tim is
(A) a delegate
(B) an assignee
(C) an incidental beneficiary
(D) none of the above
Question 9) Ace Builders, Inc. substantially performs its contract with Best Office Company to refurbish an old building, but is usable to finish the job. Ace must
(A) do nothing more
(B) find a subcontractor to complete the contract.
(C) forfeit to best the entire price of the contract
(D) only if a party completely fails to perform.
Question 10) Digital Data Company and E-Services, Inc. enter into a contract A material breach of their contract will occur.
(A) if a party performance is complete, but not substantial
(B) if a party performance is substantial, but not complete
(C) if a party’s performance is neither complete nor substantial
(D) only if a party completely fails to perform.
Question 11) Sam contacts to harvest Tina’s crop on August 1. Due to bad weather, Sam cannot perform on the specified date. In this situation,
(A) Sam is in breach of contract
(B) the contract is Discharged.
(C) the contract is suspended
(D) Tina is in breach of contract