Question 37

An exculpatory clause releases a party from liability in the event of monetary or physical injury, no matter who is at fault.

1. True
2. False

Question 36

As to the pre-existing duty rule

the uneven amount of consideration will never void the contract

a promise to do what one already has a legal duty to do, is not consideration

the uneven amount of consideration by one party may void the contract

a promise to do what one already has a legal duty to do, is consideration

Question 35

A void contract is no contract at all.

1. True
2. False

Question 34

When a party performs exactly as agreed, it is called

substantial performance

complete performance

minor breach

negative performance

Question 33

An intended beneficiary is one who is a third party whose benefit a contract is formed.

1. True
2. False

Question 32

2 Points

Which of the following contracts does NOT have to be in writing as per the Statute of Frauds?

promises made in consideration of marriage

contracts that cannot, by their own terms, be performed within one year from the day the contract is formed

contracts for the sale of services

contracts involving interests in land

Question 31

Under the Mailbox Rule

acceptance takes affect when the offeree sends or delivers the communication via the mode expressly or implied authorized by the offeror

acceptance takes effect when the offeree fills out an affidavit of service

acceptance takes affect when the offeror receives the acceptance

none of the answers are correct

Question 30

An unenforceable contract is one that

is one that cannot be enforced because of certain legal defenses against it

is void

voidable

none of the above