1)Under the Statute of Frauds

Select one:

a.All contracts must be in writing

b.All contracts not in writing will be void

c.Certain contracts must be in writing or they will be void

d. Certain contracts must be in writing or they will be unenforceable

e.None of the above

2)Which of the following is correct with respect to the obligation to make good on the loss of another: if a promise to pay is not conditional upon the default of a principal debtor

Select one:

a.Both parties are regarded as principal debtors

b.The contract is not required to be in writing

c.The contract is not required to be signed

d.The contract is an indemnity rather than a guarantee

e.All of the above

3)The two general classes of contracts under the law of contract are

Select one:

a.Written and unwritten

b.Enforceable and unenforceable

c.Formal and informal

d.Formal and covenant

e. None of the above

4)Factors to consider in a defence of non est factum are

Select one:

a.The true nature of the document signed compared to what the person thought he or she was signing

b.The reliance by the person signing upon the description of the document provided by the other party

c.The lack of independent legal advice on behalf of the person signing

d.The illiteracy or infirmity of the person signing

e.All of the above

5)A guarantee involves

Select one:

a.A principal and a debtor

b.A debtor and a third party who takes responsibility for the debt

c.Two principals and a debtor

d.A principal, a debtor and a third party

e.None of the above

6)The written requirements of the Statute of Frauds include

Select one:

a.The names of the parties or description

b.Terms of the agreement set out in enough detail to enforce the contract

c.The price of the contract

d.Answer 1 and 2 only

e.All of the above

7)Mistake of fact

Select one:

a.May include a mistake as to the subject matter of the contract

b.May include a mistake as to the existence of the subject matter of the contract

c.May include a mistake as to the identity of the party with whom a contract is made

d.May not include a mistake of law

e.All of the above

8)To be valid the written memorandum must

Select one:

a.Be signed by all parties to the contract

b.Be signed by the party to be charged

c.Signature is not required

d.The documents must be registered

e.None of the above

9)Mistake in relation to the parties to a contract may take which of the following forms?

Select one:

a.Unilateral

b.Bilateral

c. Mutual

d.All of the above

e.Answers 1 and 3 only

10)Examples of formal contracts that must comply with specific format requirements in most provinces include

Select one:

a.Mortgages

b.Powers of attorney

c.Deeds or land titles documents

d. Wills

e.1, 2 and 3