10) If Khalid agrees to sell his house to Lalita for $300,000 a property which is actually worth $410,000, 10) A) Lalita cannot recover damages for breach of contract B) Lalita can recover damages for breach of contract if Khalid refuses to perform C) Lalita will be able to get a court order for the specific performance of Khalid's promise D) Khalid is not entitled to equitable remedies 11) By far, the greatest number of preexisting duty cases involve A) contractual B) illusory C) statutory D) equitable duties. 11) 12) Polly promises to pay city council member Smith $500 to show up for the weekly city council meetings. Polly's promise is: 12) A) supported by conditional consideration. B) supported by consideration. C) not supported by consideration. D) wholly enforceable. are worded in a way that allows the promisor to decide whether or not to perform the promise. 13) 13) A) Compositor promises C) Novations D) Illusory promises B) Modifications 14) Jake had grown tired of working on the family farm and was considering moving away. However, his parents told him, "If you'll stay and help us, we'll leave you the farm when we die." As a result, Jake decide stay on the farm and worked there for the next twenty years. However, when his parents finally died, Jake learned that they had left the farm to his brother, Nathan. Jake filed suit against his parents' estate to enforc their promise of leaving him the farm. Which of the following would be true of this scenario? 14) A) Jake's parents' promise is not enforceable because it was illusory. B) Nathan and the parents' estate should be allowed to defeat Jake's claim to the farm by arguing that the parents' promise was enforceable because Jake gave consideration for the promise. C) The work that Jake did on the farm before his parents made their promise is sufficient consideration to their promise enforceable. D) Jake's parents' promise would be enforceable under the doctrine of promissory estoppel. 15) Jin moves into a neighborhood in Philadelphia and opens a repair shop. He is harassed by the local g leader who wants to extort money from him. He promises to pay Sheng, a police officer whose patrol in Jin's store, $50 a week to "keep an eye on the store" while walking his patrol. Which of the following st is true of this situation? 15) D A) Jin's promise is enforceable. B) The cop can sue Jin for not keeping his promise of paying $50 per week. Jin is the promisee and Sheng is the promisor. D) Sheng's promises toward Jin are not consideration. MULTIPLE CHOICE. Choose the one that best completes the statement or answers the question. 1) Which of the following statements is true about the Uniform Commercial Code (UCCy? A) The drafters were successful in achieving complete uniformity. B) The UCC is adopted by all states except Louisiana, which has adopted only part of the code. C) The most obvious purpose of the UCC was to establish a uniform law to govern commercial transactions that often take place within the state. D) The main purpose of the UCC was to enable private parties to enter into commercial transactions regulated by tariffs and government restrictions. 1) 2) A Article 2 of the Uniform Commercial Code (UCC) applies to all contracts for the: Aysale of goods C) sale of securities. D) liquidation of assets. B) transfer of money between banks. 3) In a contract involving elements of both goods and services, a court will determine whether Article 2 of the Uniform Commercial Code (UCC) applies by: 3) D A) asking if the contract is barred by public policy. B) using the criteria of reasonableness. C) balancing the need to apply a uniform standard with the interest of justice. D asking which element predominates in the contract 4) Umi enters into an agreement with Sheng to sell her farm to him. They shake hands to "seal the deal," but do not put the agreement in writing. The contract is: 4) A) bilateral. C) valid. B) voidable but enforceable. D) unenforceable. 5) Which of the following is intended to avoid unjust enrichment? 5) A) Void contract C) Bilateral contract(DQuasi contract J B) Express contract 6) A quasi contract can be best described as: 6) A) an agreement that contains all but one of the basic elements needed to form an enforceable contract. B) contract-like duties imposed by the court to prevent unjust enrichment. C) a contract that has been fully performed. D) a contract where terms are stated orally only. 7) In a unilateral contract, the offer is accepted when the A) offeree attempts to perform the act. offeror verbalizes his assent. C) offeror puts across his promise in writing. D) offeree performs the requested act. 7) A An acceptance is effective as soon as it is dispatched if the offeree uses: 8) Ayonly a stipulated means of communication. B) only an authorized means of communication. C) an authorized or a stipulated means of communication. D) any reasonable means of communication. 9) The requirement of requires a promisee to pay the "price" the promisor asked for in order to gain