Test #2 Solution Sentences

Test #2 Solution Sentences - LW270: Test P reparation John...

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LW270: Test Preparation John Exley, 10.29.08 Test #2: Fall 2007 Solution Sentences 1. An express contract does not have to be in writing. 2. Parties can form a contract without putting the terms in writing. 3. Mona asserts that a contract she entered into with Nate is unenforceable. Defenses to the enforcement of a contract include the lack of party’s genuine assent. 4. Freida and Gail enter into a bilateral contract, which is created when Freida gives a promise in exchange for Gail’s promise only . 5. Kate begins to perform, intending that the completion of her performance act as an acceptance of Lyle’s offer. Under the modern-day view, an offer that can only be accepted by completion of a specific act can Not be revoked once performance has substantially begun . 6. Pete, a judge, can apply the doctrine of quasi contract to a dispute between Quality Service Company and Regulated Office Systems only if there is not a valid contract covering the area in question . 7. An advertisement is generally considered an invitation to negotiate. 8. An auction with reserve is one in which the seller can withdraw the goods at any time before the auctioneer closes the sale. 9. In most states, revocation is not effective until the offeree receives it. 10. In a bilateral contract, communication of acceptance is necessary. 11. Mick sues Keith for allegedly breaching a contract to paint Mick’s house. Mick’s complaint says that the contract was entered into after a long conversation one night at a bar during which Keith kept asking for one of Mick’s old Chuck Berry records. According to the complaint, Mick made the following proposal to Keith: “You can have the Chuck Berry record if you paint my house by Monday morning.” The complaint further alleges that Keith responded to the proposal by saying, “Yeah, right. Whatever. Now let’s get the record.” Mick gave him the record, but Keith never painted Mick’s house. In his answer to Mick’s complaint, Keith claims there was no contract because he thought the conversation was a joke and he had no intention to enter into a contract to paint Mick’s house. When determining whether Keith intended to enter into the agreement Mick proposed at the bar, the court will probably give the greatest weight to objective evidence of Keith’s words and conduct and the circumstances of the conversation between Mick and Keith on the night in question. 12. First State Bank offers to lend money to Todd at 15% interest. Before Todd accepts, a statute is enacted prohibiting loans at interest rates greater than 12%. Todd and the bank have no contract for a loan . 13.
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Test #2 Solution Sentences - LW270: Test P reparation John...

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