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5 Written questions

5 Matching questions

  1. Realty
  2. Good faith (UCC)
  3. Death of the parties
  4. Cost of Insurance and Freight
  5. Auction Without Reserve
  1. a When the offeror or offeree dies, the offer dies, unless otherwise stated in the contract
  2. b The sale or purchase of realty or real estate must be in writing
  3. c Presumption of good faith, including honesty and fact
  4. d The auctioneer must accept any offer they receive
  5. e Whoever takes out cost for insurance coverage and freight expense pays for the damage done to the item

5 Multiple choice questions

    Rebuttal only stands if brought up after the fact that performance was fully finished
  2. 1. Minors
    2. Intoxication
    3. Mental state of mind
  3. In order to create a valid ___, one must have mutual assent and consideration
  4. Verbally or in writing
  5. The one who creates or makes the promise

5 True/False questions

  1. Duress1. A minor cannot validly contract, unless an emancipated minor
    2. The contract can be considered valid or not valid at the option of the minor


  2. RRDLDSQ: Quantity terms
    T: Time for performance term
    I: Interested parties
    P: Price term
    S: Subject matter


  3. Unconscionable ContractsA contract that substantially prefers one party over the other


  4. Bilateral ContractContracts that fall within the statute of frauds


  5. Mental State of MindSuffer from some sort of mental defect, either brought on by genetic or environmental influence


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