1.Tom drives into Al's auto service with a flat tire that needs to be replaced.Al replaces the tire. This is an example of a (an)

Executorycontract

Executed contract

No contracrt

bilateral executed contract

2.One of the four elements of a valid contract isan adequateprice

True

False

F

3.In an express contract the terms are fully stated.

True

False

4.John signs a lease for a 12 month apartment rental. This is an:

Implied Contract

Express contract

No contract

Both an express and an implied contract

5.Robin claims her contract with Bob for tennis lessons in voidable.If the contract is avoided:

Both parties are released.

Only Robin is released.

Only Bob is released

Neither Robin nor Bob are released.

6.A unilateral contract is formed at the time the contract is performed.

a.

Always

b.

Never

c.

Sometimes

d.

Both a &c

7.A contract which has been fully performed the the parties is an executorycontract

True

False

F

8.Mary promises to buy illegal digital copies of movies from Tom.Tom promises to deliver the illegal digitals by September 1.The agreement is probably:

voidable

void

enforceable

Void and unenforceable.

9.The term Consideration refers to the legality of the subject matter of the contract.

True

False

F

10.John begins to cut the lawn of Dave.Dave sees John cutting the lawn and does not stop him for doing so.When john is done cutting the lawn he is:

Not owed the money because Dave did not ask him to cut the lawn.

Owed the money because Dave saw John cut the lawn and did nothing to stop him.

Owed the money because this is an implied in-law contract.

None of the above.

A