Chapter10 Nature and Terminology

Chapter10 Nature and Terminology - C hapter 10 - Natu re...

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Chapter 10 - Nature and Terminology A1. Expert Pavers, Inc., contracts with Fabricated Building Corporation to repave Fabricated’s parking lot for which Fabricated agrees to pay. The elements of this, and any other, contract do not include a. capacity. b. consideration. c. legality. d. practicality. A2. Bob claims that Carol breached their contract. Carol responds that she never intended to enter into a contract with Bob. The intent to enter into a contract is determined with reference to a. the conscious theory of contracts. b. the objective theory of contracts. c. the personal theory of contracts. d. the subjective theory of contracts. A3. Laura and Mike enter into what Laura later claims is a contract. In de- ciding whether a valid contract was formed, a court will not look at a. the circumstances surrounding the alleged contract. b. the parties’ conduct at the time of the alleged contract. c. the parties’ statements at the time of the alleged contract. d. the parties’ subjective beliefs at the time of the alleged contract. A4. Mona asserts that a deal she entered into with Nate is an unenforceable contract. Defenses to the enforcement of a contract include
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a. a desire not to perform. b. adverse economic consequences. c. results that do not match expectations. d. the lack of a party’s genuine assent. A5. On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. Under the modern-day view, these
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Chapter10 Nature and Terminology - C hapter 10 - Natu re...

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