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Business Law Ch10 Part II
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) Phil agrees to work for Vacation Resorts, Inc., as a chef. In determining whether a contract has been formed, an element of prime importance is
A
the duration of the work
B
Vcation Resort's facilities
C
the parties' intent
D
Phil's rate of pay
2) Mona asserts that a deal she entered into with Nate is an unenforce¬able contract. Defenses to the enforcement of a contract include
A
the lack of a party's voluntary consent
B
results that do not match expectations
C
adverse economic consequences
D
a desire not to perform
3) Green Grocers, Inc., enters into a contract with Hiway Transport Company for the deliv¬ery of a shipment of fresh produce. In a later dispute between these parties over the delivery, the doctrine of quasi contract cannot be used because
A
there is an actual contract covering the subject in dispute
B
at least one of the parties had greater bargaining power
C
the subject of the contract was a service
D
both of the parties involved are businesses
4) Clay offers to pay Dorianne $50 for a golf lesson for Estee. They agree to meet the day after tomorrow to exchange the cash for the lesson. These parties have
A
a trilateral contract
B
a unilateral contract
C
a bilateral contract
D
no contract
5) Opie offers to sell his guitar to Pinky for $100. Pinky agrees. They complete and sign a printed form, and Pinky gives Opie a check for the price. This check is
A
an informal contract
B
a formal contract
C
a simple contract
D
no contract
6) 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 present-d
A
no contract
B
an expired contract when Neil said that he had changed his mind
C
a unilateral contract as soon as Outdoor began to perform.
D
a quasi contract when Neil said that he would pay for certain work.
7) On behalf of the jazz group Synco-Passion, their manager Raul agrees to a performance in the Quay Club on May 1. Portia, acting for Quay Club, sends a written copy of the agreement to Raul to be signed. Typically, businesspersons put their contracts
A
ensure proof of the contracts' existence
B
practice their letters of intent
C
create substance from form
D
obtain a check or other negotiable instrument
8) When Jeff’s car breaks down, he asks Kwik Tow, Inc., to tow it from its location to Loyal Repair Shop. There is no discussion of a price, and Jeff and Kwik do not sign any documents. After the tow, Kwik sends Jeff a bill. With respect to Jeff’s oblig
A
an expres contract
B
no contract
C
an implied contract
D
a quasi contract
9) Following negotiations with Merchants Storage Company, Lonny enters into an informal contract to clean the loading dock. This means that the parties’ contract
A
requires no special forms
B
does not exist
C
is indefinite and imprecise
D
must be drafted in form to be valid
10) Sam and Tiffany enter into an implied contract. This is a contract in which the parties’ conduct
A
finds the contract's facts
B
terminates any unintended consequences
C
undercuts any terms based on the facts
D
defines the contract's terms
11) Scot enters into a contract with Tiffany that later proves voidable at Tiffany’s option. If she elects to avoid any duty to perform under the contract
A
both parties are released from it
B
only Scot is released from it
C
neither party is released from it
D
only Tiffany is released from it
12) Holiday Sales Company and Global Distributors, Inc., enter into a contract for the delivery of imported specialty goods. Until the goods are delivered and paid for, these parties have
A
no contract
B
an informal contract
C
an executory contract
D
a quasi contract
13) Green Grocers, Inc., enters into a contract with Hiway Transport Company for the deliv¬ery of a shipment of fresh produce. In a later dispute between these parties over the delivery, the doctrine of quasi contract cannot be used because
A
the subject of the contract was a service
B
both of the parties involved are businesses
C
there is an actual contract covering the subject in dispute
D
at least one of the parties had greater bargaining power
*select an answer for all questions
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