Understanding the Purpose of Contract Law

Contract law is meant to fulfill the ______ expectations of the parties.

• unrealistic

• reasonable

• false

• exaggerated

What is a unilateral mistake in the context of contracts?

• An error made by both parties

• An error on the part of one of the parties

• A mutual agreement

• A legal obligation

Which of the following is true about unilateral mistakes?

• They allow contracts to be voided easily

• They involve errors by both parties

• They do not usually allow a contract to be avoided

• They are irrelevant in contract law.

What was the condition of the car after the unforeseen event?

• Perfect

• Slightly damaged

• Severely damaged

• New

Fill in the blank: The car was damaged by a ______ as it sat in front of Robert's house.

• Fire

• Hit-and-run driver

• Flood

• Earthquake

Fill in the blank: Either party may avoid the contract on the grounds of ______ mistake.

• A) Unilateral

• B) Bilateral

• C) Intentional

• D) Accidental

Fill in the blank: Unknown to both parties, the car had been ______ overnight.

• Sold

• Repaired

• Sideswiped

• Painted

In a bilateral mistake, the contract may be avoided by ________.

• both parties

• neither party

• only one party

• a third party

What was the outcome of the case between Weimer and McCormick?

• Weimer won the case

• McCormick won the case

• The case was dismissed

• Both parties settled.

Agreements made under duress are either ______.

• valid

• void or voidable

• enforceable

• legal