Question

1. A transfer of contractual duties by the obligor to another party for performance is:

   	a.	delegation of duties
   	b.	assignment of a contractual right
   	c.	declaration of duties to a third party
   	d.	none of the above

2 points   

QUESTION 27

1. If a contracting party fails to perform a duty owed under a contract, there is:

   	a.	a breach of contract
   	b.	an illusory remedy available at law
   	c.	substantial performance waived
   	d.	A and C are appropriate

2 points   

QUESTION 28

1. When a minor voluntarily leaves home and lives apart from their parents, the minor is:

   	a.	a competent party due restitution
   	b.	owes a minor's duty of restoration
   	c.	emancipated
   	d.	has no legal duties or obligations.

2 points   

QUESTION 29

1. Certain state statutes require certain contracts to be in writing

   	a.	statute of limitations
   	b.	statute of word processing
   	c.	statute of primary purpose
   	d.	statute of frauds
   	e.	none of the above

2 points   

QUESTION 30

1. Forbearance of a legal right is a form of:

   	a.	bargained for exchange
   	b.	gift promise
   	c.	consideration
   	d.	nominal consideration

2 points   

QUESTION 31

1. Joe Sr. tells his son, Joe Jr., he will give him $1,000 if he does not smoke "crack" while in college.  Can Joe Jr. enforce the contract if he regrains from "smoking" during college?

   	a.	no because it was an illusory promise
   	b.	no, because it was based on a moral obligation
   	c.	no, because it was a promise to refrain from doing an illegal act
   	d.	no, because it was based on past consideration

2 points   

QUESTION 32

1. If a minor does not disaffirm a contract prior to reaching majority (18) or sometime reasonable soon thereafter, the contract is:

   	a.	voidable
   	b.	void
   	c.	misrepresented
   	d.	ratified

2 points   

QUESTION 33

1. If either party to a contract has the opinion to avoid their contractual obligation, it is:

   	a.	a valid contract
   	b.	a void contract
   	c.	a voidable contract
   	d.	an unenforceable contract

2 points   

QUESTION 34

1. If an offeree responds to an offer by offering terms and conditions different from the original offer, it is:

   	a.	a revocation of the offer by the offeror
   	b.	a rejection by the offeree
   	c.	a counter-offer by the offeree
   	d.	a promisory estoppel

2 points   

QUESTION 35

1. A rule that says an acceptance is effective, even if it is lost in the mail is called:

   	a.	mirror image rule
   	b.	acceptance upon dispatch - "mail box" rule
   	c.	acceptance is effective upon receipt
   	d.	none of the above applies

Answer 1

26. Delegationof duties

27. A and C are appropriate

28. Emancipated

29. Statue of frauds

30. Consideration

31. No, because it was an illusory promise

32. Void

33. Voidable contract

34. Rejection by the offeeree

35. Acceptance upon dispatch - mail box rule