Contract Qwik Quiz 1
A short quiz on basic contract law concepts. Learn more at uslawessentials. Com
- 1.
Which of the following is incorrect regarding the Uniform Commercial Code?
- A.
It is a federal law, meant to unify commercial business law in the United States.
- B.
Most states have a version of the Uniform Commercial Code.
- C.
State governments enacted state versions of the Uniform Commercial Code.
- D.
Article 2 of the Uniform Commercial Code would not apply to the sale of land.
Correct Answer
A. It is a federal law, meant to unify commercial business law in the United States. -
- 2.
Which of the following is incorrect regarding unilateral contracts?
- A.
One party makes a promise.
- B.
Unilateral contracts are based on the parties' conduct.
- C.
Unilateral contracts are contracts.
- D.
Offering a reward may bind a party to a unilateral contract.
Correct Answer
B. Unilateral contracts are based on the parties' conduct. -
- 3.
Which of the following is not essential to forming a contract?
- A.
Consideration.
- B.
Acceptance of an offer.
- C.
A price based on reasonable market standards.
- D.
An offer.
Correct Answer
C. A price based on reasonable market standards. -
- 4.
Which of the following is a court least likely to cite in a case regarding a contract dispute?
- A.
The Restatement (Second) of Contracts
- B.
Prior cases
- C.
Statutes
- D.
Natural Law
Correct Answer
D. Natural Law -
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Current Version
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Jul 16, 2017Quiz Edited by
ProProfs Editorial Team -
Jan 12, 2015Quiz Created by
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