1. An unenforceable contract may have all of the elements of a complete contract and still may not be upheld by a court of law.

True or False

2. Typically, all contracts must be in writing to be enforceable.

True or False

3. Which of the following examples should have contracts in writing to be enforceable in court under the Statute of Frauds?

Amy agrees to rent her apartment to Jeremy for three months.

Michael lends $200 to Lisa which she promises to return in six months.

Harry promises to pay the debt his deceased brother owed to James.

Raymond purchases a DVD player worth $100 from Hilltop Electronics.

4. All contracts are agreements, but not all agreements are contracts.

True or False

5. Contracts of record are not contracts in the true sense because they are court created.

True or False

6. Which of the following is true of the elements of a contract?

Parties are permitted to enforce a contract that involves something that the law says cannot be done.

Any one of the parties to the contract can attack or rebut that presumption.

Each side in a contract must give up something, their legal detriment, and must gain something, their legal benefit.

A valid offer requires that the offeror make a definite expression of the desire to enter a contract in terms that are ambiguous to the offeree.

7. A general rule of contract law is that the parties to a contract must stand in privity to one another.

True or False

8. Ike calls Tina and asks her out on a date consisting of a movie and pizza. If Ike stands her up, Tina can sue for breach of contract.

True or False