FL Bar Contracts 1

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

Under UCC § 2-205, a merchant's signed, written firm offer is irrevocable for a stated period not exceeding 3 months.

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

Promissory estoppel (detrimental reliance) enforces a promise to prevent injustice when the promisee foreseeably relied on it to their detriment.

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

UCC § 2-201 requires a signed writing for contracts for the sale of goods priced at $500 or more.

Question 4

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

Accepted Answer

A counteroffer

Answer

At common law, any acceptance that varies or adds terms is a counteroffer, not a valid acceptance, because it fails to mirror the offer.

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

Reliance damages reimburse the non-breaching party for out-of-pocket expenses incurred in reliance on the contract, restoring the pre-contract status quo.

FL Bar - Florida Bar Exam Practice Test

FL Bar - Florida Bar Exam Practice Test

FL Bar Contracts 1