Sample Contract MC Questions

Sample Contract MC Questions - Old Multiple Choice...

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Old Multiple Choice Questions on Contract Law 1. Assume that Mary contracts to sell an antique dresser to her son, an antique hobbyist, for $600. Mary later finds out that her son sold the dresser for $2300 to a newlywed couple. Mary is upset about this because she thought that the dresser was worth around $500. In this situation, most likely: a. Mary could get out of the contract because there was a unilateral mistake of fact. b. Mary could get out of the contract because there was a unilateral mistake of value. c. Mary could get out of the contract under the doctrine of duress. d. Mary could get out of the contract under the doctrine of undue influence. e. Because Mary willingly sold the dresser to her son, she could not get out of the contract. 2. What is the mailbox rule under contract law? a. All correspondence related to a contract becomes effective the moment that it is mailed. b. Contract correspondence must be passed through the mail, although the mailing can occur after the contract is negotiated orally. c. An acceptance becomes effective at the moment that it is mailed, assuming that it is properly addressed and proper postage is paid. d. Any contract correspondence in ineffective while it is sitting in a mailbox and has not been read. e. Under contract law, all mailboxes are considered to be treated equally. 3. John was the offeree in a situation where he erroneously thought that his offer was an offer for a unilateral contract. In fact, the offer was set up such that it was for a bilateral contract. The fact that is was for a bilateral contract, rather than a unilateral contract, would affect: a. Whether one side or both sides needed to give consideration in order for the contract to be valid. b. Whether one side or both sides has contractual capacity. c. What is required by the offeree in order for a contract to be formed. d. Whether or not the contract is against public policy. 4. John lived in Casper, Wyoming in an older subdivision. John’s neighbor was out of town for two weeks. On the second day of the first week, John noticed his neighbor’s cat at the top of a tree in the neighborhood, but thought nothing else about it. The next day, John noticed that the cat had not moved, and appeared to be moving slowly. Because of the height of the tree, neither John nor any of his friends had a ladder tall enough to reach the cat. John rented a sufficiently tall ladder for $50 and rescued the cat. The cat had not come out of the tree because its collar had become entangled in some branches. When the neighbor returned to town, she was extremely appreciative of John’s feline rescue, but refused John’s request for $50 to cover the ladder rental cost. John’s best chance to recover the $50 is under the doctrine of: a. Promissory estoppel. b.
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Sample Contract MC Questions - Old Multiple Choice...

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