Multiple-Choice Questions
1. Mark, a newspaper editor, walks into the newsroom and announces to a group of five reporters: "I'll pay a $2,000 bonus to the first reporter who finds definitive evidence that Senator Blue smoked marijuana at the celebrity party last Friday." Anna, the first reporter to produce the evidence, claims her bonus based on
(a) Unilateral contract
(b) Promissory estoppel
(c) Quasi-contract
(d) Implied contract
(e) Express contract
2. Raul has finished the computer installation he promised to perform for Tanya, and she has paid him in full. This is
(a) An express contract
(b) An implied contract
(c) An executed contract
(d) A bilateral contract
(e) No contract
3. Consider the following scenarios:
I. Madison says to a group of students, "I'll pay $35 to the first one of you who shows up at my house and mows my lawn."
II. Lea posts a flyer around town that reads, "Reward: $500 for information about the person who keyed my truck last Saturday night in the Wag-a-Bag parking lot. Call Lea at 555-5309."
Which of these proposes a unilateral contract?
(a) I only
(b) II only
(c) Both I and II
(d) None of the above
4. On Monday night, Louise is talking on her cell phone with Bill. "I'm desperate for a manager in my store," says Louise. "I'll pay you $45,000 per year, if you can start tomorrow morning. What do you say?"
"It's a deal," says Bill. "I can start tomorrow at 8 a.m. I'll take $45,000, and I also want 10 percent of any profits you make above last year's." Just then Bill loses his cell phone signal. The next morning he shows up at the store, but Louise refuses to hire him. Bill sues. Bill will
(a) Win, because there was a valid offer and acceptance
(b) Win, based on promissory estoppel
(c) Lose, because he rejected the offer
(d) Lose, because the agreement was not put in writing
(e) Lose, because Louise revoked the offer
5. Which of the following amounts to an offer?
(a) Ed says to Carmen, "I offer to sell you my pen for $1."
(b) Ed says to Carmen, "I'll sell you my pen for $1."
(c) Ed writes, "I'll sell you my pen for $1," and gives the note to Carmen.
(d) All of the above