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True or False Quiz
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1
Melinda promises not to use cocaine in exchange for $10,000. Melinda has provided a legal detriment in exchange for the money.
A)True
B)False
2
Jorge purchases a $1,000 freezer under a rent-to-own contract whose payments total $10,000. This contract is unconscionable.
A)True
B)False
3
Elaine has a legal right to work for $1.00 per hour if that is her free and competent decision.
A)True
B)False
4
Barter agreements must be informal since they do not contain valid consideration.
A)True
B)False
5
A promise not to sue is commonly called a release.
A)True
B)False
6
Charitable pledges may be enforced under promissory estoppel or public policy.
A)True
B)False
7
Gary and Alhambra Plumbing Co. are in a dispute over a plumbing bill. If Alhambra accepts a check from Gary that is marked payment in full, an accord and satisfaction has occurred.
A)True
B)False
8
Hanson decides that he has promised to pay too much when he sees the same goods advertised for $100 less. Hanson may legally pay the lesser amount.
A)True
B)False
9
The time allowed for the collection of a debt is determined by federal law.
A)True
B)False
10
Thomas promises to buy all the trucks that he "might desire" from Titan Trucks Sales Inc. Thomas has made an illusory promise.
A)True
B)False





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