KS Bar Contracts

Question 1

What are the essential elements required to form a valid contract?

Accepted Answer

Offer, acceptance, consideration, and mutual assent

Answer

Offer, acceptance, consideration, and written documentation

Answer

Offer, acceptance, consideration, and a witness

Answer

Offer, acceptance, consideration, and a verbal agreement

Question 2

Which of the following is a valid defense to the enforcement of a contract?

Accepted Answer

The contract is based on an illegal purpose

Answer

One party made a promise of future performance

Answer

The contract is informal and unwritten

Answer

The contract was signed by both parties

Question 3

What type of contract is formed when one party makes a promise in exchange for the performance of an act by another party?

Accepted Answer

Unilateral contract

Answer

Bilateral contract

Answer

Executed contract

Answer

Implied contract

Question 4

What is the legal effect of a material breach of contract?

Accepted Answer

The non-breaching party can seek damages and terminate the contract

Answer

The non-breaching party must continue to perform under the contract

Answer

The breaching party is entitled to renegotiate the contract terms

Answer

The contract is automatically voided

Question 5

Which doctrine allows a party to recover damages for work performed under an unenforceable contract if the party has conferred a benefit on the other party?

Accepted Answer

Quantum meruit

Answer

Res ipsa loquitur

Answer

Promissory estoppel

Answer

Accord and satisfaction