Contracts and Statute of Frauds Quiz

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What type of contract involves explicit, mutual promises, with each party being both a promisor and a promisee?

Unilateral contract

Quasi-contract

Void contract

Bilateral contract (correct)

If an offeree remains silent in response to an offer, what does this typically imply?

Counteroffer

Revocation of the offer

Acceptance of the offer (correct)

Rejection of the offer

What category does a contract fall under if only one party makes a promise and expects the other party to act?

Void contract

Unilateral contract (correct)

Quasi-contract

Bilateral contract

What is an example of a unilateral contract?

A contract where one party is bound but the other is not Signup and view all the answers

What happens if a minor fails to disaffirm a contract within a reasonable time after reaching majority?

The minor's right to disaffirm is lost Signup and view all the answers

What remedy is available when there has been substantial performance in a contract?

Non-breaching party only required to perform and can sue for damages Signup and view all the answers

What does 'de novo' mean in the context of legal review?

No need to review lower court decisions Signup and view all the answers

What is a counteroffer in the context of contracts?

An offer made in response to another's offer Signup and view all the answers

When can a minor disaffirm a contract?

Before reaching the age of majority Signup and view all the answers

What is duress in the context of contracts?

A person's action that compels another to act against their will Signup and view all the answers

What is the significance of the Contract Clause in constitutional law?

It prohibits states from enacting laws that interfere with existing contracts Signup and view all the answers

Contracts and Statute of Frauds Quiz

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Questions and Answers

What type of contract involves explicit, mutual promises, with each party being both a promisor and a promisee?

If an offeree remains silent in response to an offer, what does this typically imply?

What category does a contract fall under if only one party makes a promise and expects the other party to act?

What is an example of a unilateral contract?

What happens if a minor fails to disaffirm a contract within a reasonable time after reaching majority?

What remedy is available when there has been substantial performance in a contract?

What does 'de novo' mean in the context of legal review?

What is a counteroffer in the context of contracts?

When can a minor disaffirm a contract?

What is duress in the context of contracts?

What is the significance of the Contract Clause in constitutional law?

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