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Multiple Choice Quiz
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1
Woody promised to leave his twelve-year old niece, Matilda, a sufficient amount of money in his will to enable her to attend college for four years. Matilda studied hard and dreamed of college life. However, when Woody died, his will did not mention Matilda. What legal remedies, if any, does Matilda have?
A)She may sue Woody's estate for breach of contract.
B)She may sue Woody's estate under a quasi contract doctrine.
C)She may sue Woody's estate for a violation of public policy.
D)She may not sue.
2
Grandise advertised a $100 reward for the return of her lost high school ring that had her name engraved on it. Mike found the ring at the city library and returned it to Grandise without knowing of the reward. Grandise gave Mike nothing when he returned the ring but Mike sees the advertisement later that day. What are Mike's legal rights?
A)Mike may collect the reward since he met the terms of the advertisement.
B)Mike provided past consideration and may not collect the reward.
C)Mike may collect the reward based upon promissory estoppel.
D)Mike did not have a written contract and may not collect the reward.
3
Tisha promises to pay the apartment rent due under her current lease if the landlord constructs covered parking for her car. The landlord agrees. Tisha's promise to pay rent ____.
A)provides consideration for the landlord's agreement.
B)is not consideration for the landlord's agreement.
C)provides consideration only to the extent that the landlord has begun construction.
D)is not consideration but rather a firm offer under the UCC
4
Who makes a firm offer under the UCC?
A)any seller
B)any buyer
C)any merchant making an offer
D)any merchant making an acceptance
5
Promissory estoppel involves _____.
A)principles of justice and fairness
B)an analysis of the terms of the contract between the parties
C)an analysis application of what is customary
D)an analysis application of federal legislation
6
Dorinda's debt has been discharged by bankruptcy. When is Dorinda legally obligated to pay the debt?
A)Never.
B)When state law provides the obligation to repay.
C)When a court imposes the debt.
D)When reaffirmation occurs as provided by federal law.
7
Historically, a contract under seal _____.
A)required no consideration
B)required monetary consideration only
C)required equal value consideration
D)required all parties to swear to perform the contract.
8
An accord and satisfaction may be created _____.
A)if any partial payment is accepted by a creditor
B)if the debt is honesty in dispute
C)if the debt exceeds $500 and is evidenced by a written contract
D)if the debt is past due
9
The equal value exchange theory _____.
A)is still applied today to all contracts
B)is still applied today to contracts under seal
C)ended with the Industrial Revolution
D)allows the parties to determine what is equal value
10
The legal term used to describe the gain that each party to a contract experiences is _____.
A)legal detriment
B)legal full faith and credit
C)legal benefit
D)legal standing





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