75. Which of the following is NOT an a required element of most valid contracts?

	a	Agreement
	b	Consideration
	c	Legal capacity of the parties to the contract
	d	A written document with notarized signatures

74. After reaching the age of majority, if a party does nothing to disaffirm a contract entered into while a minor, the silence will ______ the contract.

	a	disaffirm
	b	void
	c	ratify
	d	dissolve

73. Specific performance will not be granted unless the partys legal remedy is inadequate.

a. True

b. False

72. A failure of the Federal Bureau of Investigation to comply with a request under the Freedom of Information Act (FOIA) may be challenged in

	a	a federal district court.
	b	a hearing before the U.S. Freedom of Information Agency.
	c	a meeting with Congresss FOIA subcommittee.
	d	a special conference with the president of the United States.

71. A right cannot be assigned if the assignment will significantly alter the risks or duties of the obligor.

a.True

b.False

70. Any contract to commit a crime is unenforceable.

a. True

b. False

69. Mason creates a trust to prevent his son, Newt, the beneficiary, from assigning his rights to future payments of income from the trust. This is

	a	a charitable trust.
	b	a constructive trust.
	c	a spendthrift trust.
	d	an illegal trust.

68. If a contract requires that performance be rendered directly to a third party, the third party is an intended beneficiary.

a. True

b. False

67. A person who dies without a will is said to have died intestate

a. True

b. False

66. Belinda and Marie entered into a contract that was based on Marie's misrepresentation of the facts. Belinda may rescind the contract.

a. True

b. False

65. Which of the following events will NOT discharge a party to a contract based on impossibility of performance?

	a	The performance called for in the contract becomes illegal.
	b	The party who is to perform under a personal services contract dies or becomes incapacitated.
	c	The subject matter of the contract is destroyed.
	d	A steep and unanticipated increase in the cost of performance.