LEG100 UNIT 2 MILESTONE.pdf - Sophia Welcome Score 21/21...

This preview shows page 1 - 5 out of 11 pages.

1/20/2021 Sophia :: Welcome 1/11 UNIT 2 — MILESTONE 2 Score 21/21 You passed this Milestone 21 questions were answered correctly . 1 Which 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. CONCEPT Statute of Frauds 2 Contracts function as a symbol of __________ in modern society. disorder oppression free will
1/20/2021 Sophia :: Welcome 2/11 wealth CONCEPT General Perspectives on Contracts 3 In 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. CONCEPT Strict Liability 4 Which 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 clean his 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 to work 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 deck for $1,000. A 28-year-old adult forms a written contract with an able-bodied and competent 17-year-old neighbor to cut her lawn for $200 per week.
1/20/2021 Sophia :: Welcome 3/11 CONCEPT Different Types of Contracts 5 Malia signs a contract to purchase a used car. The seller breaches the contract, but Malia is able to buy the exact same 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? Restitution Punitive damages Nominal damages Incidental damages CONCEPT Monetary Awards 6 To be enforceable, a contract typically must __________. have mutual assent, legal value exchanged by both parties, and be entered into in good faith have mutual assent and legal capacity of both parties, and be in written form have mutual assent, legal value exchanged by both parties, legal capacity of both parties, and be for a legal purpose have assent and consideration from at least one party, and have legal capacity and purpose from both parties CONCEPT
1/20/2021 Sophia :: Welcome 4/11 Contract Formation 7 Which of the following statements regarding the enforceability of contracts involving minors is true?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture