Contract Questions

Contract Questions

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Unformatted text preview: ing as fair protection 183. Consideration is: a. the concern shown by the other contracting party. b. what is demanded by the promisor as the price for the promise. c. d. a stated number of dollars. the concern of both contracting parties for the protection of the environment. 184. a. b. c. d. Consideration that involves the promise to refrain from doing an act is called: forbearance. revocation. formal release. forfeiture. 185. a. b. c. d. Contract law is significant in that it is basic to other fields of law such as: sales of personal property. commercial paper. secured transactions. all of the above. 186. a. b. c. d. Contracts are governed primarily by: state common law. federal common law. statutory law. federal case law. 187. a. b. c. d. Contracts made by severely intoxicated people: are void rather than voidable. cannot be disaffirmed until the person has regained his mental faculties. cannot be ratified until the person has regained his mental faculties. are always binding, because the law does not want to reward drug or alcohol abuse. 188. Contractual capacity of the parties is a prerequisite to the format...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.

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