AL Bar Contracts

Question 1

Under the common law mirror-image rule, an acceptance that varies the terms of the offer is treated as:

Accepted Answer

A counteroffer rejecting the original offer

Answer

At common law, an acceptance must mirror the offer exactly; any variation operates as a rejection and counteroffer.

Question 2

Consideration requires that the promisee provide:

Accepted Answer

A bargained-for exchange giving a legal benefit or detriment

Answer

Consideration must be a bargained-for exchange in which the promisee suffers a legal detriment or the promisor receives a legal benefit.

Question 3

The statute of frauds requires a writing signed by the party to be charged for contracts that:

Accepted Answer

Cannot by their terms be performed within one year from the making

Answer

The one-year provision of the statute of frauds requires a signed writing for contracts incapable of full performance within one year of their making.

Question 4

Under UCC Article 2, a merchant's firm offer is irrevocable for up to how long without consideration?

Accepted Answer

3 months

Answer

A merchant's signed, written firm offer under UCC § 2-205 is irrevocable for the stated time or, if none stated, a reasonable time not exceeding three months.

Question 5

When a party breaches an anticipatory repudiation, the non-breaching party may:

Accepted Answer

Treat the repudiation as an immediate breach and sue at once

Answer

Anticipatory repudiation allows the non-breaching party to immediately treat it as a breach and bring suit without waiting for the performance date.

AL Bar - Alabama Bar Exam Practice Test

AL Bar - Alabama Bar Exam Practice Test

AL Bar Contracts