Chapter11 t or fase

• Contracts can only be written to be legally enforceable.

False

• A bilateral contract involves a promise in exchange for another promise.

True

• In a unilateral contract, the offer can be accepted only by performing the act.

True

• An executed contract is one where all parties have fulfilled their obligations. 

True

• An executory contract is one that is completely finished.

False

• A voidable contract is one that is illegal from the start.

False

• A void agreement cannot be enforced by either party. 

True

• Express contracts must always be in writing to be enforceable. 

False

• The UCC applies primarily to the sale of goods and commercial transactions. 

True

• Common law is the foundation of all contract law in the United States.

True

1. Promissory estoppel applies when a valid contract already exists. 

False

1. In a quasi-contract, the defendant must return a benefit received unfairly.

True

1. Quantum meruit means “as much as he deserves.”

True

1. Courts always enforce any promise that someone makes.

False

1. Contracts can exist without the parties realizing they’ve made one.

True