help me with review final exam question

Question 13

Fred and Ethyl sign a contract in which Fred agrees to deliver heating oil in exchange for Ethyl's promise to pay for the oil. Fred delivers the oil. The contract is

	A.	Executory with respect to Fred
	B.	Fully executed
	C.	Unexecuted
	D.	Executory with respect to Ethyl

Question 14

Not all terms of an offer need be expressed. Some may be implied.

True

False

Question 15

If a contractual performance becomes illegal after the offer has been accepted but before the performance has been rendered, the offer is terminated.

True

False

Question 16

The bargained-for exchange element necessary to form a binding contract is found if

	A.	The promise induces the conduct of the promisee and the promisee induces the making of the contract
	B.	The promisee induces the making of the promise
	C.	The promisor induces the conduct of the promisee and the promise induces the making of the conduct.
	D.	The promise induces the conduct of the promisee

Question 17

If Hubert promises to give Jane $500 because she does not have as much money as other people, then Hubert's promise is

	A.	Enforceable because the redistribution of wealth is a valid social objective
	B.	Not enforceable because Hubert could have given her more money
	C.	Enforceable because society wishes to encourage people to keep their promises
	D.	Not enforceable because Jane has not given any consideration in return

Question 18

If Oscar offers Edward S 100 for his $500 leather coat and Edward knowingly and voluntarily agrees to the offer, then a court

	A.	Will set aside the agreement because the consideration is inadequate
	B.	Would probably not question the adequacy of the consideration
	C.	Would probably consider such a suit to be frivolous
	D.	Will set aside the agreement as being unfair

Question 18

If Oscar offers Edward S 100 for his $500 leather coat and Edward knowingly and voluntarily agrees to the offer, then a court

	A.	Will set aside the agreement because the consideration is inadequate
	B.	Would probably not question the adequacy of the consideration
	C.	Would probably consider such a suit to be frivolous
	D.	Will set aside the agreement as being unfair

Question 19

If Macdonald hires Jen-y to work for him for one month at a weekly salary of $250 butMacdonald orally agrees two weeks later to double Jerry's salary, then the oral agreement is

	A.	Unenforceable because Jerry has incurred no additional detriment in exchange for Macdonald 's promise.
	B.	Enforceable because the parties have executed an accord and satisfaction.
	C.	Unenforceable due to the pre-existing duty role.
	D.	Enforceable because is a legal agreement between two parties

Question 20

Informal contracts include

	A.	None of the choices
	B.	Negotiable instruments
	C.	Checks
	D.	Letters of credit

Question 21

If Agatha promises to pay Betty, her niece, five thousand dollars if she will complete her college education, then if Betty eventually does not dropout but completes her education, Agatha is

	A.	Not required to pay because the promise induced conduct that ultimately benefited Betty.
	B.	Required to pay because Betty incurred many significant costs while attending college.
	C.	Not required to pay because Betty had indicated that she was considering attending college.
	D.	Required to pay because Betty's completion of college entitles her to payment.

Question 22

The statement "I would like to sell you my baseball card collection" would generally not be treated as an offer because the statement

	A.	Merely expresses an opinion
	B.	Does not describe the subject matter specifically
	C.	Does not mention a price term
	D.	Merely invites the listener to negotiate terms

Question 23

Roger announces that he plans to sell his stock in Porcine Aviation at a price below the current market value. Andrew hands Roger a check for the amount. Roger

	A.	May askfor cash or direct deposit
	B.	Must accept the check and give Andrew the stock
	C.	May refuse to accept the check, unless it is certified by a bank
	D.	May refuse to accept the check, because he merely expressed his intention to enter into a future contract to sell the stock

Question 24

The courts will not normally attempt to evaluate the adequacy of the consideration in agreed-on exchange unless the consideration is

	A.	Not yet paid
	B.	So grossly inadequate as to "shock the conscience" of the court
	C.	A service
	D.	In the form of a forbearance

Question 25

The intent of the offeror to extend a serious offer to the offeree is typically determined by reference to

	A.	The assumptions of the offeror.
	B.	The intentions of the offeror.
	C.	The words and conduct of the offeror.
	D.	The beliefs of the offeror.