NY Bar Contracts and UCC

Question 1

Under common law, an offer is effectively revoked when:

Accepted Answer

The offeree learns of the revocation through any reliable source

Answer

The offeror sends a revocation that is received before acceptance

Answer

The offeror mails a revocation letter

Answer

The offeror changes their mind, even without communicating it

Question 2

Article 2 of the UCC applies to contracts for:

Accepted Answer

The sale of goods

Answer

Services only

Answer

Real property transactions

Answer

All commercial transactions

Question 3

Under the UCC's battle of the forms provision (§2-207), a definite and seasonable acceptance that adds new terms creates a contract, and the new terms:

Accepted Answer

Become part of the contract unless the offer expressly limits acceptance to its terms

Answer

Always become part of the contract

Answer

Never become part of the contract between merchants

Answer

Replace the offeror's terms automatically

Question 4

The doctrine of promissory estoppel allows enforcement of a promise without consideration when:

Accepted Answer

The promisee reasonably relied on the promise to their detriment

Answer

The promisor is a merchant under the UCC

Answer

The promise is in writing and signed

Answer

The promise is supported by past consideration

Question 5

Under common law, a modification of an existing contract requires:

Accepted Answer

New consideration

Answer

A writing signed by both parties

Answer

Notice to third-party beneficiaries

Answer

Approval by a court

Question 6

The parol evidence rule bars admission of prior or contemporaneous oral agreements that:

Accepted Answer

Add terms to a fully integrated written contract

Answer

Explain ambiguous terms in a written contract

Answer

Show that a condition precedent was not met

Answer

Demonstrate fraud or misrepresentation in contract formation