CLEARLY IN THE ) NEXT TO THE HEADING. IF NO CHOICE IS MADE, THE T-F WILL BE 2 AND THE M-c3. True False ) Multiple Choice 1. Jon needs money to buy a car and asks his uncle for a loan. If the uncle lends him $10,000, that loan agreement must be in writing to be enforceable under the statute of frauds. 2. Scienter is a necessary requirement for fraud. 3. Intoxication always makes a contract either void or voidable depending on the level of intoxdcation. 4. Unilateral mistakes make a contract void. 5. A contrectualprovision that releves one or both partisfrom totlabity fof rdinary negligence is called an exculpatory clause. A contract to buy $499.00 worth of land may be oral. Silence can constitute a fraud. 6. 8. A merger 9. A victim of misrepresentation is entitled to treble damages. 10. Kathy agrees to go to a bar and have one beer with Mike. When Kathy turns her or integration clause is used when two or more contracts are combined into a single contract back, Mike puts a drug into Kathy's drink that makes her extremely intoxicated. If Kathy signs a contract with Mike while inebriated, Kathy cannot void the contact when she sobers up because she voluntarly agreed to have the beer. 11. A statement of opinion can form a basis for fraud if the opinion is wrong. 12. If you give a true answer to a question during contract negotiations, but something happens that makes that 13. In vino veritas" translates to: "In wine there is akcohor. 14. Kathy overhears her friend Beth tell someone that she was planning to climb Mt. Everest the answer now false, you are not obligated to tell the other party unless they ask the question again. next weekend. Kathy takes a chance and purchases a $10,000 life insurance policy on Beth's life. The insurance contract is in writing. Beth dies in an avalanche. Kathy can collect the $10,000. 15. A minor's contract for a business related contract regarding the minor's business also requires that the minor be lucid to be valid. If a minor is extremely mature and of above average intelligence, her contract will be valid. ABC Corp. offers Josh a lifetime contract at $50,000 per year. This contract need not written to be 16. 17. enforceable 18. Mike and Kathy have signed a written contract that is executory. The contract has a typographical error. The Parol Evidence rule will not allow them to correct the error so the contract will be void