TRUE/FALSE. PLEASE WRITE THE WORD TRUE OR FALSE ON THE LINE

(3 POINTS EACH/36 POINTS)

1. To be enforceable, a contract must be supported by consideration.__________________
2. Consideration can only be money._______________
3. A gift promise requires the gift to be given before death.________________
4. Promissory estoppel is usually used to provide a remedy to a party who has relied on another party's promise. __________________

5. A party is always negligent in tort is someone gets hurt.__________

6. The parental duty of support is terminated if a minor becomes emancipated. ____________
7. A person who was legally insane at the time of entering a contract is relieved of his or her duties arising the contract. __________________

8. In a contract involving a legally competent person and a person who is possibly incapacitated, the competent party can void the contract at any time.________________

9. A contract with an intoxicated person is voidable by the party who is not intoxicated. _________________

10. The signature of the person who is enforcing the contract is always necessary so that an unsigned contract is never valid _______________

11. Condition subsequent exists when the parties to a contract must render performance simultaneously. ____________________________
12. Sophie owes money to Lilly because she borrowed $1000 last summer to buy a car. Rachel owes money to Sophie. Sophie can ask Rachel to pay Lilly directly as an assignment of her right to money from Rachel. ____________