Chapter 7
In misrepresentation, the statement must be one of:
a.Unimportant information
b.Fact
c.Slander
d.Opinion
Answer is B: FACT
Chapter 7Contracts entered into as a result of misrepresentation or fraud are voidable by
a.The UCC
b.The injured party
c.The uninjured party
d.None of these
ANSWER IS B – THE INJURED PARTY
Chapter 7Key elements in undue influence are unfair persuasion and
a.Ownership
b.Scope of authority
c.Relationship
d.None of these
Answer: C– RELATIONSHIP
Chapter 7A mistake from failure to read a contract before signing is called a
a.Unilateral mistake
b.Fraudulent mistake
c.Mutual mistake
d.Stupid mistake
ANSWER IS A– UNILATERAL MISTAKE
Chapter 7A genuine agreement may be lacking due to
a.Undue influence
b.Duress
c.Fraud
d.All of these
ANSWER IS D – ALL OF THESE
Chapter 7An untrue statement is NOT material if the
a.Defendant knew this plaintiff would rely on the statement
b.Statement was an honest opinion
c.Defendant knew the statement was false
d.Statement would cause a reasonable person to contract
ANSWER IS B – STATEMENT WAS AN HONEST OPINION
Chapter 7Generally, mistakes that have no effect upon the contract rights of the parties are
a.Mutual mistakes
b.Unilateral mistakes
c.Fraudulent mistakes
d.Stupid mistakes
ANSWER IS B – UNILATERAL MISTAKES
Chapter 8The statute of limitations specifies
a.The time limit for consideration
b.The maximum amount of money one can receive on a claim
c.The time limit for bringing a lawsuit
d.The maximum amount of people who can file on the same claim
ANSWER IS C – THE TIME LIMIT FOR BRINGING A LAWSUIT
Chapter 8Which of the following in NOT a part of consideration?
a.Immediate performance
b.Past performance
c.Present performance
d.Future performance
ANSWER IS B – PAST PERFORMANCE
Chapter 8When consideration is provided to keep an offer open, it creates a(n)
a.Option contract
b.Firm offer
c.Output contract
d.Promissory estoppel
ANSWER IS A – OPTION CONTRACT
Chapter 8An important exception to the general rule that mutual consideration is necessary for a valid contract or binding promise is
a.Option contract
b.Firm offer
c.Output contract
d.Promissory estoppel
ANSWER IS D– PROMISSORY ESTOPPEL
Chapter 8Which of the following does NOT require mutual consideration?
a.Forbearance
b.A promise
c.An act
d.A gift
ANSWER IS D – A GIFT
Chapter 8A big difference in economic value of what one gives and receives may be evidence of
a.Fraud
b.Mutual mistake
c.Duress
d.All of these
ANSWER IS D – ALL OF THESE
Chapter 8Legal value is found in
a.The exchange of a benefit for a detriment
b.The exchange of one benefit
c.The exchange of one detriment
d.All of these
ANSWER IS A – THE EXCHANGE OF A BENEFIT FOR A DETRIMENT
Chapter 9Acting toward a contract as though one intends to be bound by it is called
a.Ratification
b.Contractual capacity
c.Disaffirmance
d.All of these
ANSWER IS A - RATIFICATION
Chapter 9When a person has the capacity to bind an organization to a contract, they are said to have
a.Contractual capacity
b.Scope of authority
c.Free range
d.Majority
ANSWER IS B – SCOPE OF AUTHORITY
Chapter 9When the consideration by both parties has been returned, the contract is said to be
a.Necessary
b.Ratified
c.Emancipated
d.Disaffirmed
ANSWER IS D - DISAFFIRMED
Chapter 9Which of the following would most likely be classified as goods or services that were NOT necessaries?
a.Clothing
b.Food
c.Car
d.Cell phone
ANSWER IS D – CELL PHONE
Chapter 9The severance of the child-parent relationship is referred to as
a.Intoxication
b.Disaffirmance
c.Emancipation
d.Ratification
ANSWER IS C - EMANCIPATION
Chapter 10 Professionals such as physicians, teachers, architects and pharmacists must have a
a.Competency license
b.Federal license
c.Revenue license
d.Drivers license
ANSWER IS A– COMPETENCY LICENSE
Chapter 10Which of the following is NOT a practical and legally recognized purpose for marriage?
a.Economic needs
b.Companionship needs
c.Raising children
d.To obtain citizenship
ANSWER IS D – TO OBTAIN CITIZENSHIP
Chapter 10Illegal lotteries involve
a.Entry fee, skill and a prize
b.Paying to play, luck and a prize
c.Down payment, risk and a guaranteed award
d.All of these
ANSWER IS B – PAYING TO PLAY, LUCK AND A PRIZE
Chapter 10As an incentive to stop illegal acts, restitution is available
a.For unperformed illegal acts
b.To a party if they rescind before the illegal act occurs
c.For the legal part of every contract
d.All of these
ANSWER IS B – TO A PARTY IF THEY RESCIND BEFORE THE ILLEGAL ACT OCCURS
Chapter 10Some agreements that delay or prevent justice might include
a.Bribing jurors
b.Compounding a crime
c.Paying for false testimony
d.All of these
ANSWER IS D – ALL OF THESE
Chapter 12Typically, the minimum age for marriage without permission is
a.13
b.17
c.18
d.21
ANSWER IS C - 18
Chapter 12A problem leading to a voidable marriage might be
a.Husband gained too much weight
b.Refusal to have children
c.Husband not earning enough money
d.Wife is not a good cook
ANSWER IS B– REFUSAL TO HAVE CHILDREN
Chapter 12The law forces the parents of an illegitimate child to marry is known as the
a.Legitimate Child Law
b.Illegitimate Child Law
c.No Child Left Behind Law
d.There is no such law
ANSWER IS D – THERE IS NO SUCH LAW
Chapter 12When a couple has been living together and sharing common property for some time, it is called
a.Common-law marriage
b.Bigamy
c.A prenuptial agreement
d.A marital consortium
ANSWER IS A – COMMON-LAW MARRIAGE
Chapter 12The only restriction in the choice of marital partners is
a.Extremely different nationalities
b.Vast age difference
c.Being closely related to each other
d.All of these
ANSWER IS C – BEING CLOSELY RELATED TO EACH OTHER
Chapter 12Under the Marriage and Divorce Act, in awarding custody a court must consider all of the following factors EXCEPT
a.The child’s wishes as to custody
b.Who stands to benefit more financially
c.Physical and mental health of all persons concerned
d.The child’s adjustment to home, school and community
ANSWER IS B – WHO STANDS TO BENEFIT MORE FINANCIALLY
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