JD Contract Law

Question 1

Under the common law, which element is NOT required for a valid contract?

Accepted Answer

Written documentation

Answer

Offer

Answer

Acceptance

Answer

Consideration

Question 2

What is 'promissory estoppel' in contract law?

Accepted Answer

A doctrine enforcing promises lacking consideration when detrimental reliance occurred

Answer

A defense to breach of contract

Answer

A type of contractual condition

Answer

A rule limiting damages to expectation interest

Question 3

Under the UCC Article 2, which types of transactions does it govern?

Accepted Answer

Sales of goods

Answer

Sales of real property

Answer

Service contracts

Answer

Employment agreements

Question 4

The 'mirror image rule' in common law contract formation requires that acceptance must do what?

Accepted Answer

Exactly match the terms of the offer

Answer

Be made in writing

Answer

Be made within a reasonable time

Answer

Come from the offeree personally

Question 5

Which doctrine allows a court to refuse enforcement of an unconscionable contract?

Accepted Answer

Unconscionability

Answer

Frustration of purpose

Answer

Mutual mistake

Answer

Impossibility

Question 6

Under the Statute of Frauds, which type of contract MUST be in writing to be enforceable?

Accepted Answer

Contracts for the sale of land

Answer

Contracts for the sale of goods under $100

Answer

Month-to-month lease agreements

Answer

Employment contracts under one year