MULTIPLE CHOICE:

26. Which contract is governed by the Uniform Commercial Code?

a) An agreement for an actor to appear in a movie for a $600,000.00 fee.

b) An agreement for an actor to appear in a movie for a fee of $600,000.00 plus 2% of box office.

c) An agreement for the sale of a house.

d) An agreement for the sale of 22,000 picture frames. e) An agreement for the rental of an apartment.

27. Mark, a newspaper editor, walks into the newsroom and announces to a group of five reporters: Ill pay a $2,000 bonus to the first reporter who finds definitive evidence that Senator Blue smoked marijuana at the celebrity party last Friday. Anna, the first reporter to produce the evidence, claims her bonus based on

a) Unilateral contract.

b) Promissory estoppel.

c) Quasi-contract.

d) Implied contract.

e) Express contract.

28. What are the elements of a contract?

a) Express, implied, quasi-contract, promissory estoppel.

b) Agreement, consideration, legality, capacity.

c) Common law, UCC, Restatement.

d) Bilateral, unilateral, express, implied.

e) The reasonable expectations of similarly placed parties.

29. Raul has finished the computer he promised to repair for Tanya, and she has paid him in full. This is

a) An express contract.

b) An implied contract.

c) An executed contract.

d) A bilateral contract.

e) No contract.

30. Business affairs can be made less certain because of

a) Restatement of Contracts.

b) UCC

. c) Judicial activism.

d) Judicial restraint.

e) Executory contracts.

31. On Monday night, Louise is talking on her cell phone with Bill. Im desperate for a manager in my store, says Louise. Ill pay you $45,000 per year, if you can start tomorrow morning. What do you say? Its a deal, says Bill. I can start tomorrow at 8 a.m. Ill take $45,000 and I also want 10% of any profits you make above last years. Just then Bill loses his cell phone signal. The next morning he shows up at the store, but Louise refuses to hire him. Bill sues. Bill will

a) Win, because there was a valid offer and acceptance.

b) Win, based on promissory estoppel.

c) Lose, because he rejected the offer.

d) Lose, because the agreement was not put in writing.

e) Lose, because Louise revoked the offer.