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5 Written questions

5 Matching questions

  1. Mutual Assent
  2. Common Carriers
  3. Revocation
  4. Valid Contract
  5. Time for Performance
  1. a Offer and acceptance
  2. b Gives rise to whose time for performance is due; look to the terms of the contract for who is to perform and when
  3. c Offer, acceptance, and consideration
  4. d Anything that can transport something from point A to point B
  5. e The offeror can take back the offer, prior to acceptance or expiration

5 Multiple choice questions

  1. The party to whom the offer has been made
  2. The promisee performed specific acts, based on the existing promise
  3. 1. Unilateral mistake
    2. Bilateral (mutual) mistake
  4. If the non-mistaken party knew or should have known as a reasonable, prudent person of the mistake, then ___ is a valid defense
  5. Does not fit the merchant status

5 True/False questions

  1. SubsequentBefore


  2. Equal Dignities RuleWhatever you had to do to address the validity of the underlying contract, you must also do for future changes (waiver, modification, etc.)


  3. WaiverOne relinquishes a known right


  4. Executory ContractThe contract has only been fulfilled by one party


  5. ConditionsThe consent of all three parties - the two original parties and the substituting party - the substitute is held responsible