Question 402 pts

In an executed contractboth of the parties have yet toperformedtheir contractual obligations.

Group of answer choices

True

False

Flag question: Question 41Question 412 pts

A person who is forced to enter into a contract under the threat of harm can assert the defense of ____________________.

Group of answer choices

A. mistrust

B. undue influence

C. coercion

D. duress

Flag question: Question 42Question 422 pts

Under the common law a counteroffer by the offeree will terminate the original offer.

Group of answer choices

True

False

Flag question: Question 43Question 432 pts

Generally, a letter of acceptance is effective when it is sent by the offeree.

Group of answer choices

True

False

Flag question: Question 44Question 442 pts

Which of the following contracts could not be completely disaffirmed by a minor?

Group of answer choices

A. A written contract for the purchase of a piece of land.

B. A contract which requires the minor to paint a house.

C. An oral contract for the purchase of food.

D. A credit card payment contract

Flag question: Question 45Question 452 pts

Certain types of contract rights cannot be assigned to a third party.

Group of answer choices

True

False

Flag question: Question 46Question 462 pts

A contract between two partiesthat one party can choose to disaffirm or to enforce is known as _____________________.

Group of answer choices

A. a voidable contract

B. a quasi-contract

C. a void contract

D. (All of the above)

E. B and C only

Flag question: Question 47Question 472 pts

Ted sends Jill the following offer, "I offer to reroof your house for $1500. You must provide all the necessary roofing materials. Payment is due on completion of the job." Jill has been looking for someone to roof her house and responds as follows: "I agree to pay you $1500 to reroof my house. I will supply the materials and pay on completion. You agree to clean the gutters as part of our deal." Which of the following is true?

Group of answer choices

A, The UCC applies to the contract.

B. The parties have formed a valid contract.

C. Jill's acceptance is ineffective.

D. The agreement lacks consideration.

Flag question: Question 48Question 482 pts

In a bilateral contract, acceptance is accomplished by performing an act.

Group of answer choices

True

False

Flag question: Question 49Question 492 pts

Bill has bought a new computer and wants to sell his old one. He sends Mindy the following signed offer: "I, Bill, will sell Mindy my Apple computer for $400." Mindy responds with an acceptance memothat agrees to buy the computer for $400, but which alsoincludes the following term: "Bill agrees to accept $100 down on the computer, with the balance to be paid in5 days." Which of the following are true:

Group of answer choices

A. The common law would be applicable to this contract.

B. The additional terminvalidates the acceptance.

C. The contract is void under the mailbox rule.

D. Bill could haverevoked his offer at any time before it was accepted.

Flag question: Question 50Question 502 pts

Bob and Andy enter into a contract which states the following: "Bob agrees to sell Andy his house at Blue Lake for $10,000." Andy has given Bob the $10,000 but Bob has yet to transfer title to the property to Andy. Which of the following is false?

Group of answer choices

A. The common law of contracts applies to the contract.

B. The parties have entered into a collateral contract.

C. The contract is executory.

D. The statute of frauds requires the contract to be written.