Week 3 Quiz
1) What federal statute governs the legal use of electronic contracts?
2) Oral agreements may be legally enforceable contracts with the exception of some types of contracts specified in which law?
3) Contracts are discussed primarily in Sections 2 and 2A of the Uniform Commercial Code pertaining to which of the following transactions?
4) An individual who finds the personal property of another, acquires legal title to that property against the entire world, only if it is what type of personal property?
5) What is the highest type of ownership estate in real property?
6) If a contract ends in a dispute, and the parties want to have the matter resolved without going to court, which is the most common method for them to pursue?
7) Which of the following is true when someone mistakenly makes an improvement to the personal property of another?
8) Which of the following examples is a unilateral contract?
9) Both the Statute of Frauds and the Uniform Commercial Code require a valid, enforceable contract to be signed by whom?
10) Parties enter into a contract for services and one party commits a breach. The party who breached wants to continue with the contract but wants the terms revised. What is his best method of dispute resolution?
11) A(n) ________ is an agreement that is stated orally or in written words
12) Apart from recovering damages, and recovering profits made by the offender, successful plaintiffs in a misappropriation of a trade secret case can also
13) Which of the following examples is a bilateral contract?
14) Jenson and Johnson enter into a contract that involves Johnson paying Jenson $1,000 for shoveling the snow from his driveway throughout the winter. Jenson, who was paid before work commenced, breached the contract on the very first day. He should refund $1,000 to Johnson as
15) Which of the two parties are involved in every contract?
16) Consideration, which is required in a contract, consists of which two elements?
17) Which of the following is true about the public use doctrine?
18) Which of the following is the best definition for the legal term promissory estoppels?
19) In order for a response to be considered a legal acceptance to an offer, and not a counter offer, what rule must apply?
20) Wildboards Company introduces a product called a “Rollerboard” for which it is granted a registered trademark. The Rollerboard is a snowboard with a removable row of wheels along the center of the underside. With the wheels attached, the user can attain extremely high speed in hard-packed snow conditions. In addition, many users have found that they can use their snowboards on streets with the wheels attached. This new use of snowboards becomes very popular and many competing snowboard makers introduce similar products. The sport becomes known generally as rollerboarding and most people refer to all such wheeled snowboards as rollerboards. What is the consequence of this scenario?
21) Under Section 2 of the Uniform Commercial Code (UCC), a contract for the sale of goods must be written if that contract is for what monetary value?
22) Which of the following is an equitable doctrine designed to prevent unjust enrichment and unjust detriment where no actual contract exists?
23) To create an enforceable contract, which of the following are needed?
24) Which of the following types of real property rights can be sold separately from the land?
25) Some trees were cut down and made into lumber, and the lumber was used to build a house. What type of property were the trees while they were growing, when they were lumber, and when they became part of the house, respectively?