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Exam 12: Formation of Traditional and E Contracts

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Question 1

Multiple Choice

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Lon says to Misty, "I would like to sell you my sofa." This statement is

A) an offer.
B) an invitation to negotiate, not an offer.
C) an ad, not an offer.
D) a request, not an offer.

E) A) and B)
F) B) and C)

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Question 2

Multiple Choice

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Bianca, a minor, enters into a contract to buy two all-season passes from Chalet Ski Park. The contract will be made enforceable if, after reaching the age of majority, Bianca

A) ratifies it.
B) disaffirms it.
C) nullifies it.
D) voids it.

E) All of the above
F) A) and C)

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Question 3

True/False

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A promise to refrain from competing in business with another is considered to be unconscionable.

The offeror can revoke the offer only be expressing repudiating it.

Holes Inc. begins digging a foundation at a construction site for Investment Company under a contract for a certain price. After six months, Holes demands a higher price because of extraordinary difficulties that were totally unforeseen at the time the contract was formed. An agreement to pay the higher price is

Macy offers to sell his fitness watch for $50 to Nona. Nona promises to pay Macy the price. Later, they exchange the watch for the funds. A contract was created when

On a delegation of contract duties, the delegator is absolved from any liability for performance under the contract.

Shrink-wrap terms are enforceable even if a buyer does not discover them until after the parties have entered into a contract.

Cass agrees to sell her Daily Donut shop to Ernie. In the agreement, there is a covenant not to compete that prohibits Cass from operating a donut shop within a certain distance. If the restriction is unreasonable, a court will most likely

Retail LLC contracts with Paving Inc. to grade and pave a parking lot. The contract provides that it cannot be assigned without Retail's consent. Later, Paving assigns the contract to Roadwork Company without obtaining Retail's consent. Retail could most successfully argue that the contract cannot be assigned because

Maeve posts her motorcycle for sale on an online auction site. This is

On May 1, Bok and Che orally agree that Che will guide a party from the base of Mount Denai to its summit and from the summit to a return to the base. Under the agreement, Bok will pay for the service after the completion of the climb on July 31. On May 1, is this contract express or implied? On July 31, after the climb has been made but before payment is paid, is the contract executed or executory?

An agreement subject to the writing requirement must be written on paper.

Brie buys a subscription to music provided by Concerto, an online streaming service. Before gaining access, Brie must agree to a provision stating that she will not make and sell copies of the music. This provision is

A contract that only one of the parties can enforce in a court is not valid.

Coffee Beans Inc. offers to buy Brewing Company's roasting services for a certain price. Brewing responds that the price is too low and thereby rejects the offer. The offer is

The state of Nevada enacts a usury statute. With respect to different types of transactions, including ordinary loans, the purpose of the statute is to

Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for Coding Associates for one year for $5,000 per month, starting at the beginning of next month. To be enforceable, a writing is required for

A promise made in return for an act or event that has already taken place is fully enforceable.

A click-on agreement can indicate the acceptance of an online offer.