3rd Exam Questions: Law 230

Created: 11/09/25, For Instructor: John F. King @ WCU

For Mutal assent to be present between parties to a contract, ___ & ___ must exist

Offer & Acceptance

Under Common Law, The Mirror Image Rule Provides that:

The Acceptance of an offer must match the offer exactly

The Term Anticipatory Repudiation applies when a party to a contract says They will not fulfill their duties or obligations under a contract. True or False

True

When a Contract is a mixed contract of both services and good, The UCC will govern when:

The Predominant Purpose of the Contract is the Sale of Goods

The UCC Provision that Abandons the Common Law Mirror Image Rule Is The:

Battle of The Forms

A Contract obtained by duress or under influence is voidable, but not void. True or False

True

When a contract has been formed but not yet preformed, and a party to the contract dies, the contract will be terminated by operation of Law. True or False

True

A Quasi Contract is:

Implied by Law to Avoid Unjust Enrichment

An Offeree May Accept an Offer of A Unilateral Contract By:

Completing Performance

When a Court Makes Revisions or Changes to a Contract as a Remedy for a Party to The Agreement, That is Called:

Reformation

Under the UCC, When no Delivery Location is Specified in the Contract, The Place for Delivery Is:

The Seller’s Place of Business or Home if There is No Place of Business

The Sale of Goods is Regulated in the UCC By Article:

2

A Contract Formed by The Mutual Exchange of Promise by The Parties is a:

Bilateral Contract

An Offeree May Accept an Offer of a Bilateral Contract By:

Either Making a Promise or Starting Performance

Parties to a Contract that Provides That it is The Entire Agreement Between Them are Prohibited From Later Offering Evidence to Vary or Change the Terms of The Contract. The Rule is Called:

The Parole Evidence Rule

An Ambiguity in a Contract will be Constructed Against The Party who Prepared the Contract and Selected the Ambiguous Language. True or False

True

The Statue of Limitations Under The UCC, AS a General Rule is:

4 Years

Under the UCC, A Warranty That Represents That a Product will comply with a Particular Promise, Description or Sample, is Called:

An Express Warranty

In General, The Uniform Commercial Code Encourages Deals Between Parties, When Compared to Common Law. True or False

True

A Contract Formed By The Oral and/or Written Language of The Parties is:

An Express Contract

Termination of a Contract Offer by The Offeree is Called:

Rejection

The Lack of Mutually Enforceable Promises in a Contract is Called:

An Illusory Promise

Under The UCC, a Guarantee That The Seller Has Ownership of the Goods Intended to be Sold is Called:

Warranty of Title

When No Time for Performance is Stated in a Contract, The UCC Provides That The Time for Performance is What?

A Reasonable Time

When Parties to a Contract Predetermine the Amount of Damage Recoverable for a Breach of The Contract is Called:

Liquidated Damages

A Contract is:

1. A Promise or Set of Promises Between Parties

2. Breach of Which Gives Rise To a Remedy

   1. Performance of Which The Law Recognizes As a Duty

Termination of a Contract Offer By The Offeror is Called:

Revocation

Under Common Law, The General Concept Of The Mailbox Rule is That:

When An Offer is Accepted By Mail, Or Other Delivery Services, Acceptance is Complete Upon Dispatch Of The Mail, IF Properly Addressed and Posted

The Abbreviation UCC Stands For:

Uniform Commercial Code

The UCC Strictly Prohibits Delegation Of a Party’s Duties Of Performance. True or False

False

The Acronym, MY LEGS pertains to the Statue of Frauds. What Do the Letter M.Y. L.E.G.S. mean?

M - Marriage

Y - Year

L - Land

E - Executor

G - Goods

S - Suretyship

List and Describe Accurately at lease 4 rules of Contract.

Offer: One party must make a clear, definite proposal to another.

Acceptance: The other party must clearly accept the offer.

Consideration: Something of value must be exchanged between the parties

Mutual Intent: Both parties must intend to create a legally binding agreement and have the legal capacity to do so.