16. A mistake of fact justifies rescission of a contract. a. mutual, or bilateral; b. unilateral; C. reasonable; d. legal. 17. Damages intended to punish the wrongdoer are known as _dam ages. a. consequential; b. com pensatory; c. punitive; d. nominal. 18. A party whose decision to accept a contract as a result of someone else having made the decision for them, to such an extent that their free will has been overcome has available the defense of: a. undue influence; b. duress; c. unconscionability; d. all of the above. 19. A liquidated damages provision is valid, provided: a. it is in writing; b. it rewards only nominal damages; c. it is not assignable; d, it is not so high as to be a penalty. 20. A party to a contract has a duty to or reduce his/her damages. a. mitigate; b. litigate; c. defer; d. increase; 21. Foreseeable damages which flow from a party's breach of contract, which the breaching party is aware of prior to the breach, are _damages. a. compensatory; b. punitive; C. consequential; d. nominal. 22. Sedneva is a contractor who owns a crane. She has been hired by Massart to bring her crane to a construction site. The night before the project is to begin. Sedneva's crane is destroyed in a storm. Regarding performance of the contract, he has the defense of: a. commercial ility; b. frustration of purpose; c. impossibility; d. Substantial performance. 23. Any deviation from full and complete performance is classified as a(n): a. excuse; b. deviation; c. release; d. breach. 24. The elements of a valid agreement are: a. agreement, consideration, capacity and legality; b. offer and acceptance; c. offer and counter-offer; d. duty, breach, proximate cause and damages. 25. The elements of a contract are a. agreement, consideration, capacity; b. offer and acceptance; c. offer and counter-offer; d. only valid if they are in writing. 26. In the case of Lucy v Zehmer, regarding the issue of intoxication, the court concluded: a. that Zehmer's intoxication prevented him from being able to agree to a contract; b; that intoxication rendered the contract Illegal; c. that the seller (Zehmer) was not sufficiently intoxicated to prevent him from having the capacity to contract; d. that Zehmer had not been drinking. 27. In Hamer v Sidway, the court ruled that: a. the contract was unenforceable because the nephew was a minor; b. that the contract did not have a legal purpose; c. that the uncle's promise to pay was sufficiently supported by consideration and was enforceable; d. that the contract was barred by the statute of limitations. 28. The following contracts must be in writing to be enforceable: a. contracts in contemplation of marriage; b. contracts transferring any interest In real estate; c. contracts that cannot be performed within a year; d. all of the above. 29. The following are recognized exceptions to the Statute of Frauds: a. a memorandum setting forth the terms of the agreement; b. an admission in a court pleading; c. partial performance of the contract by one of the parties; d. all of the above. 30. In determining whether or not the parties intended to enter into a contract, the courts use the _theory of contract Interpretation. a. subjective; b. objective; c. Socratic; d. historical. 31. The "meeting of the minds" concerns this element of a contract: a. agreement; b. consideration; c. capacity; d. legality. 32. A promise is deemed supported by adequate consideration if the person making the promise: a. put the promise In writing; b. notarizes their signature; c. gives up something of value; d. all of the above. 33. If both parties to a contract are under a legal obligation to nerform pursuant to