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Exam 12: Formation of Traditional and E Contracts

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Question 41

Multiple Choice

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A contract to do something that is prohibited by statute is

A) enforceable if the parties are aware of the prohibition.
B) enforceable if the parties are ignorant of the prohibition.
C) enforceable if the contract does not negatively affect society.
D) unenforceable.

E) A) and D)
F) A) and C)

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Question 42

Multiple Choice

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In determining procedural unconscionability, a court is most likely to consider whether

A) none of the choices.
B) any provision left one party without a remedy for nonperformance.
C) any provision deprived one party of the benefits of the agreement.
D) the buyer had an opportunity to ask questions about the contract.

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

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Question 43

Multiple Choice

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Primo tries to start his car with no success. He yells that he will sell the car to anyone for $10. Quanto, a passerby, hears Primo's yell. This is not an effective offer because it lacks

A landlord can avoid liability for injuries that occur on rental property by including an exculpatory clause in the lease.

Duane and Eddy orally agree to a transfer of forty acres of farmland. Eddy asks Finance Bank for a loan of the funds to buy the land. Under the Statute of Frauds, the agreement between Duane and Eddy is enforceable by

Cindy, a real estate agent, sells her friend Doug's house without charging a commission. In return, Doug promises to give Cindy $1,000. This promise is not an enforceable contract because

A contract provision that deprives one party of the benefits of the agreement may seem unfair but a court is not likely to consider it unconscionable.

In effect, a counteroffer converts the original offeror into an offeree with the power of acceptance.

Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes

Acceptance is timely if it is effective before the offer is terminated.

If a party is already bound by contract to perform a certain duty, that duty can serve as consideration for a second contract.

The lack of a license in certain occupations bars the enforcement of work-related contracts.