WEEK 5 QUIZ 1

QUESTION 1

  1. If Becky promises not to drink alcohol until she becomes a legal adult in exchange for Ben’s promise of $1,000, the agreement is
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 2

  1. Ethel’s Exercise World plans to order three weight machines from Pete’s Push, Pedal and Pull, Inc. for a total of $15,000. Pete’s demands that Ethel’s friend, Moneybags, a wealthy independent businesswoman (not connected with Ethel’s business in any way) promise to pay Pete’s for the three machines if Ethel’s Exercise World does not. Which of the promises in this problem must be in writing to be enforceable?
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 3

  1. Some of the elements of a contract are acceptance, consideration, legality, and capacity.

     

     

3.5 points   

QUESTION 4

  1. When a contract falls within the Statute of Frauds but is not in writing, the contract is
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 5

  1. Which of the following represents a unilateral offer?
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 6

  1. Robert offers to buy a car from Jane for $400. Jane must accept this offer in order to form an enforceable contract.

     

     

3.5 points   

QUESTION 7

  1. The element of a contract that states the parties must be adults of sound mind is consent.

     

     

3.5 points   

QUESTION 8

  1. Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie’s house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $75, then this is an implied, bilateral, executory contract.

     

     

3.5 points   

QUESTION 9

  1. Ramona, age 42, orally agreed to work for Brahma, Inc. for the rest of her life for $50,000 per year. This agreement would not be enforceable since it violates the one-year rule of the Statute of Frauds.

     

     

3.5 points   

QUESTION 10

  1. Which of the following is NOT required to establish promissory estoppel?
    a.
    b.
    c.
    d.

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