ID Bar Contracts

Question 1

Under the common law of contracts applied on the Idaho Bar Exam, which of the following is required for a valid contract?

Accepted Answer

Offer, acceptance, consideration, and mutual assent

Answer

Written agreement signed by both parties

Answer

Notarization and witnesses

Answer

Government approval

Question 2

Which of the following is a valid form of consideration?

Accepted Answer

A bargained-for exchange that confers a benefit or imposes a detriment

Answer

A promise to perform a pre-existing legal duty

Answer

A past act already completed before the promise was made

Answer

A moral obligation to repay a gift

Question 3

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

Accepted Answer

A counteroffer that rejects the original offer

Answer

A valid acceptance with the additional terms incorporated

Answer

A request for clarification

Answer

Void as a matter of law

Question 4

Under Article 2 of the UCC as applicable on the Idaho Bar Exam, a contract for the sale of goods for $500 or more must generally be:

Accepted Answer

In writing and signed by the party to be charged

Answer

Notarized

Answer

Witnessed by two people

Answer

Approved by a court

Question 5

Which doctrine allows a party to enforce a promise even without consideration when the party has reasonably relied on the promise to their detriment?

Accepted Answer

Promissory estoppel

Answer

Quasi-contract

Answer

Accord and satisfaction

Answer

Novation

Question 6

Under the common law perfect tender rule's analog for services contracts, a material breach by one party generally:

Accepted Answer

Allows the non-breaching party to suspend performance and sue for damages

Answer

Requires the non-breaching party to complete performance before suing

Answer

Voids the contract from inception

Answer

Has no legal effect unless written notice is given