4057030
Descrição
Quiz por Eileen Loughlin, atualizado more than 1 year ago
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Criado por Eileen Loughlin
mais de 8 anos atrás
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Questão 1
Questão
All contracts must be in writing to be enforceable
Responda
- True
- False
Questão 2
Questão
Consideration is something of legal value offered by one party and accepted by the other as an inducement to act.
Responda
- True
- False
Questão 3
Questão
In an implied contract, the actual agreement between the parties is inferred from general or vague statements in the written agreement itself.
Responda
- True
- False
Questão 4
Questão
The difference between a bilateral and unilateral contract is the number of parties involved.
Responda
- True
- False
Questão 5
Questão
A contract that may be rescinded or disaffirmed by one or both parties based on some legal principal is void, even though it may appear to be valid.
Responda
- True
- False
Questão 6
Questão
A contract entered into by a person medically diagnosed as mentally ill is voidable during the illness and for some time after the individual is cured.
Responda
- True
- False
Questão 7
Questão
Assignment, is the substitution of a new contract in place or the original one, while novation is a transfer of rights or duties under a contract.
Responda
- True
- False
Questão 8
Questão
Pennsylvania's Electronic Transaction Act recognizes an electronic signature as valid with regard to Statute of Frauds requirements
Responda
- True
- False
Questão 9
Questão
"Time is of the essence" is an implied principle when parties enter into an agreement of sale.
Responda
- True
- False
Questão 10
Questão
A voluntary, legally enforceable promise between legally competent parties to perform (or refrain from performing) some legal act [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 11
Questão
A contract in which the parties show their intentions in words [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitation
Questão 12
Questão
A contract established by the acts and conduct of the parties [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 13
Questão
A contract in which both parties promise to perform some act [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 14
Questão
A one-sided agreement [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 15
Questão
A contract that has been completely performed [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 16
Questão
the status of a real estate sales contract prior to closing [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 17
Questão
The person who accepts the offer in a contract [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 18
Questão
Complete agreement about the purpose and terms of a contract [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 19
Questão
Something of legal value offered by one party and accepted by another as in inducement to act or refrain from acting [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 20
Questão
State law limiting the time period within which parties to a contract may bring suite to enforce their rights [blank_start]Statute of Limitations[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 21
Questão
the substitution of a new contract ot replace an earlier one [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 22
Questão
A violation of any of the terms or conditions of a contract without legal excuse [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 23
Questão
the transfer of rights or duties under a contract [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 24
Questão
A contract that is without legal force or effect because it lacks one or more essential elements [blank_start]is[blank_end]
Responda
-
Bilateral contract
-
Consideration
-
Contract
-
Executed contract
-
Executory contract
-
Express contract
-
Implied contract
-
Mutual assent
-
Offeree
-
Unilateral contract
-
Void
-
Assignment
-
Breach
-
Novation
-
Statute of Limitations
Questão 25
Questão
A legally enforceable agreement under which two parties agree to do something for each other is known as
Responda
-
an Escrow agreement
-
A legal promise
-
A valid contract
-
an option agreement
Questão 26
Questão
A person approaches an owner and says, "I'd like to buy your house." The owner says, "Sure," and they agree to a price. What kind of contract is this?
Responda
-
Express
-
Implied
-
Bilateral
-
Unenforceable
Questão 27
Questão
A contract is said to be bilateral if
Responda
-
one of the parties is a minor
-
the contract has yet to be fully performed
-
only one party to the agreement is bound to act
-
all parties to the contract are bound to act
Questão 28
Questão
During the time after a real estate agreement of sale is signed but before title actually passes, the status of the contract is
Responda
-
void
-
executory
-
Unilateral
-
enforceable
Questão 29
Questão
A contract for the sale of real estate that does not state the consideration to be paid for the property and is not signed by the parties is considered
Responda
-
voidable
-
executory
-
void
-
enforceable
Questão 30
Questão
The statute of frauds, which requires that a contract be in writing to be enforceable, applies to
Responda
-
all real estate sales agreements
-
all real estate contracts of any sort
-
all contracts
-
bilateral contracts only
Questão 31
Questão
The buyer asks the seller to leave the washing machine. The seller said yes, but because the agreement of sale said nothing about the seller's leaving the washing machine, the seller took it with her. The buyer has no right to legal recourse because of the rule of
Responda
-
Partial performance
-
Novation
-
Undue influence
-
Parol evidence.
Questão 32
Questão
A buyer and seller sign a contract to purchase. The seller backs out, and the buyer sues for specific performance. What is the buyer seeking in this lawsuit?
Responda
-
Money damages
-
New contract
-
Deficiency judgement
-
Transfer of the property.
Questão 33
Questão
If a real estate sales contract states that time is of the essence and the stipulated date of transfer comes and goes without a closing, the contract
Responda
-
binding for only 30 more days
-
novated
-
still valid
-
breached.
Questão 34
Questão
In filling out a sales contract, someone crossed out several words and inserted others. To eliminate future controversy about whether the changes were made before or after the contract was signed, the usual procedure is to
Responda
-
write a letter to each party listing the changes
-
have each party write a letter to the other approving the changes
-
redcaw the entire contract
-
have both parties initial or sign and date the margin near the change.
Questão 35
Questão
Under the statute of frauds, contracts for the sale of real estate must be
Responda
-
originated by a real estate broker
-
on preprinted forms
-
in writing to be enforceable
-
accompanied by earnest money deposits.
Questão 36
Questão
A man has an executory contract to buy property but would rather let his friend buy it instead. If the contract allows, the friend can take over the man's obligation by the process known as
Responda
-
assignment
-
substantial performance
-
subordination
-
mutual consent
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