2024 Unit 2 Part 2 Test Contract Law

Front

To refrain from informing on or prosecuting an alleged crime in exchange for money or other valuable consideration.

Back

compounding a crime

Front

Oral evidence (Options: bid rigging, competency license, compounding a crime, lottery, parol evidence)

Back

parol evidence

Front

License required of professionals certifying they can perform adequately

Back

competency license

Front

A contract so grossly unfair that parties under normal conditions would not enter into it

Back

unconscionable

Front

A fiction created by the law to allow the enforcement of a contract remedy where justice alone warrants such a remedy.

Back

quasi-contract

Front

Typically, illegal contracts are held by the courts to be ___________ and unenforceable

Back

void

Front

Is any oral contract enforceable in a court of law if there are enough reliable witnesses to testify to the contract's terms?

Back

False

Front

Ambiguous terms in a written contract will be constructed against the author.

Back

True

Front

Under the UCC and between parties who normally deal in goods identified in the contract, a party who receives a written and signed contract proposal from another has ___________ days to object to the terms or be bound to them.

Back

10

Front

What are the six essential elements in writing required by the most demanding Statutes of Frauds standards?

Back

name of parties, a description of the subject matter, price, quantity, signature, and other essential terms