Select the right answer from the following MCQs:

1. Quasi contracts

Are not real contracts

Is the same thing as an implied contract?

Seek to prevent unjust enrichment.

Two of these

All of these

2. Alpha orders 100 Grade A widgets from Beta. Beta does not have any Grade A widgets in stock, so it ships Alpha 100 Grade B widgets instead. Which of the following is true?

Beta has made a counteroffer.

Beta has accepted Alpha’s offer.

Beta has breached.

Two of these

3. Royal Hotel Inc. Verbally orders 100 sets of sheets and pillowcases, each to be embroidered with the chain’s coronet logo, for $1,000, from Textile Inc. Textile starts on the order and has completed 45 sets when Royal calls back and cancels the order. Which of the following is true?

There is no contract; Textile never accepted the offer.

The contract is unenforceable; it falls within the UCC Statute of Frauds.

The contract is fully enforceable; this is the part performance exception to the Statute of Frauds.

The contract is fully enforceable; this is the specially manufactured goods exception to the Statute of Frauds.

4. Delta Inc. offers to sell Omega Corp. A packaging machine. Omega responds “We’ll take it but only if there is a six-month warranty.” Which of the following is true?

There is a contract, and Omega has a six-month warranty.

There is a contract, but Omega does not have a six-month warranty.

There is a contract unless the warranty term is a material change.

There is no contract.

5. Peter offers to sell Maxine his car for $5,000, stating, “I need to know by Friday, and you should email me your answer.” Maxine calls Peter on Thursday and leaves a voicemail telling him she wants the car. Peter listens to the voicemail on Thursday night. Which statement best describes the situation?

There is a contract since Peter got the message in time.

There is a contract regardless of when Peter gets the message.

Maxine has rejected Peter’s offer by using voicemail.

Maxine had made a counteroffer, which Peter can now choose to reject or accept.

6. Ashley sees a maintenance crew from Acme Co. Beginning to resurface her driveway, a service she has not contracted for. Ashley thinks a new driveway would be good, so she doesn’t say anything. If Acme sues Ashley for the value of the resurfacing,

Ashley wins; she did not have a contract with Acme.

Acme wins: there was an implied unilateral contract.

Acme wins: Ashley unjustly accepted a benefit she could have rejected.

Ashley wins; there is no quasi contract because she was not obligated to send Acme away.

7. Peter, an art dealer, offers to sell a painting to Ben, a teacher, for $200. Ben responds, “I accept. I want it in a red frame, like the one I saw on that other painting at your gallery, so it will match my sofa.” Peter and Ben

Have a contract and Peter must include the red frame.

Have a contract but the red frame is not included.

Have no contract, because Ben is not a merchant.

Have no contract, because Ben made a counteroffer.

8. Jason promises to tutor Maria in Essentials of Business Law for three hours next week in exchange for $30. Maria promises to pay the $30. They have a/an:

Express contract

Implied contract

Quasi contract

Formal contract

9. Consideration is:

Part of a bargained -for exchange

Either a benefit or detriment

An element of a contract

Two of the above

All of these

10. Unlike the common law, the UCC provides that a firm’s offer cannot be revoked if it

Is made by a merchant

Is in a signed document

Gives assurance it will be held open.

All of these