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1/20/2021Sophia :: Welcome1/11UNIT 2 — MILESTONE 2Score21/21You passed this Milestone21 questions were answered correctly.1Which contract generally must be in writing under the Statute of Frauds?Shara and Asher form a prenuptial agreement before they get married.Colin hires a contractor to remove several trees from his property next month.Hilary hires a personal assistant to help with her catering business.George loans his daughter $300 to buy a new bicycle.CONCEPTStatute of Frauds 2Contracts function as a symbol of __________ in modern society.disorderoppressionfree will
1/20/2021Sophia :: Welcome2/11wealthCONCEPTGeneral Perspectives on Contracts 3In which scenario would strict liability most likely apply?A baseball manufacturer fails to put an impact warning on its baseballs.A hardware company fails to label its nails as dangerous to ingest.A scissor company fails to label its scissors as sharp.A tobacco company fails to put a cancer warning on its cartons of cigarettes.CONCEPTStrict Liability 4Which of the following is an example of a voidable contract?A 21-year-old adult forms a written contract with an able-bodied and competent adult neighbor to cleanhis house for $1 per month.A 21-year-old forms a contract with an able-bodied and competent 30-year-old neighbor to drive her towork all year in exchange for gas money.A 52-year-old forms an oral contract with an able-bodied and competent adult neighbor to paint his deckfor $1,000.A 28-year-old adult forms a written contract with an able-bodied and competent 17-year-old neighbor tocut her lawn for $200 per week.
1/20/2021Sophia :: Welcome3/11CONCEPTDifferent Types of Contracts 5Malia signs a contract to purchase a used car. The seller breaches the contract, but Malia is able to buy the exactsame car from another dealer at a better price. Malia sues the original seller and is awarded $2. This is an example of which type of monetary award?RestitutionPunitive damagesNominal damagesIncidental damagesCONCEPTMonetary Awards 6To be enforceable, a contract typically must __________.have mutual assent, legal value exchanged by both parties, and be entered into in good faithhave mutual assent and legal capacity of both parties, and be in written formhave mutual assent, legal value exchanged by both parties, legal capacity of both parties, and be for a legalpurposehave assent and consideration from at least one party, and have legal capacity and purpose from bothpartiesCONCEPT
1/20/2021Sophia :: Welcome4/11Contract Formation 7Which of the following statements regarding the enforceability of contracts involving minors is true?