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Multiple Choice Quiz
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1
An agreement is based upon:
A)An offer and an acceptance
B)Contractual capacity and a legal object
C)An offer and contractual capacity
D)An acceptance and a legal object
2
The __________ theory of contracts means that the existence and interpretation of a contract is based on the outward manifestations of intent by the parties.
A)Subjective
B)Reasonable
C)Hypothetical
D)Objective
3
Sources of contract law include:
A)Common law and constitutional law
B)Common law and executive orders
C)Common law and the Uniform Commercial Code
D)The Uniform Commercial Code and constitutional law
4
A __________ contract is defined as a promise made in exchange for a promise.
A)Void
B)Voidable
C)Bilateral
D)Unilateral
5
A __________ contract represents a situation where the offeror seeks performance from the offeree to form the contract.
A)Void
B)Voidable
C)Bilateral
D)Unilateral
6
__________ contracts have all their terms clearly set forth in either written or spoken words.
A)Express
B)Implied
C)Bilateral
D)Unilateral
7
A(n) __________ contract arises not from words, but from the conduct of the parties.
A)Bilateral
B)Unilateral
C)Express
D)Implied
8
Which of the following is not a condition that must be met for a court to find an implied, or implied-in-fact, contract?
A)The plaintiff provided some property or service to the defendant
B)The plaintiff expected to be paid for the property or service he or she provided to the defendant
C)The defendant had an opportunity to reject the property or service provided by the plaintiff, but did not
D)The defendant used the property or service provided by the plaintiff for pecuniary gain
9
A(n) __________ contract is, in effect, not a contract at all.
A)Implied
B)Void
C)Voidable
D)Bilateral
10
Once all the terms of a contract have been fully performed, the contract has been __________.
A)Oriented
B)Executed
C)Presented
D)Originated





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