WV Bar Contracts and UCC

Question 1

Under the West Virginia UCC, a merchant's firm offer is irrevocable for up to:

Accepted Answer

90 days

Answer

30 days

Answer

60 days

Answer

180 days

Question 2

Under the common law mirror image rule, a purported acceptance that adds new terms is treated as:

Accepted Answer

A counteroffer

Answer

A valid acceptance

Answer

A void agreement

Answer

An invitation to negotiate

Question 3

Under UCC Article 2, the statute of frauds requires a writing for contracts for the sale of goods valued at:

Accepted Answer

$500 or more

Answer

$1,000 or more

Answer

$2,500 or more

Answer

$5,000 or more

Question 4

Which defense allows a party to avoid a contract because of an unfair bargaining process such as high-pressure tactics against a vulnerable party?

Accepted Answer

Unconscionability

Answer

Impossibility

Answer

Frustration of purpose

Answer

Mistake

Question 5

In West Virginia, the parol evidence rule generally bars evidence of prior agreements that:

Accepted Answer

Contradict the terms of a fully integrated written contract

Answer

Were made after the written contract

Answer

Explain ambiguous contract terms

Answer

Establish a course of dealing

Question 6

An agreement that lacks consideration is generally:

Accepted Answer

Unenforceable

Answer

Voidable

Answer

Void

Answer

Valid but illusory