FL Bar Contracts

Question 1

Under the UCC, a merchant's firm offer to hold an offer open is irrevocable for how long without consideration?

Accepted Answer

Up to 3 months

Answer

Up to 30 days

Answer

Up to 6 months

Answer

Indefinitely

Question 2

Which doctrine allows a court to enforce a promise even absent consideration when the promisor should have reasonably expected the promisee to rely on it?

Accepted Answer

Promissory estoppel

Answer

Quasi-contract

Answer

Accord and satisfaction

Answer

Novation

Question 3

A contract for the sale of goods worth $500 or more must be evidenced by a writing under which rule?

Accepted Answer

UCC Statute of Frauds

Answer

Parol Evidence Rule

Answer

Common law Statute of Frauds

Answer

Mirror Image Rule

Question 4

Under the common law mirror image rule, an acceptance that adds new terms is treated as:

Accepted Answer

A counteroffer

Answer

A valid acceptance

Answer

A conditional acceptance

Answer

A modification

Question 5

Which remedy places the non-breaching party in the position they would have been in if the contract had never been made?

Accepted Answer

Reliance damages

Answer

Expectation damages

Answer

Consequential damages

Answer

Liquidated damages

Question 6

In Florida, a non-compete covenant in an employment agreement is enforceable if it is:

Accepted Answer

Supported by a legitimate business interest and reasonably limited

Answer

Unlimited in duration and geographic scope

Answer

Only agreed to at the time of signing, regardless of scope

Answer

Broader than necessary to protect trade secrets