Podcast
Questions and Answers
Which type of contract usually requires a special form or method of creation to be enforceable?
Which type of contract usually requires a special form or method of creation to be enforceable?
- Informal contracts
- Express contracts
- Implied contracts
- Formal contracts (correct)
What distinguishes an express contract from an implied contract?
What distinguishes an express contract from an implied contract?
- An express contract is informal while an implied contract is formal.
- An express contract is verbal while an implied contract is written.
- An express contract is always bilateral while an implied contract is unilateral.
- An express contract has terms explicitly stated while an implied contract relies on actions. (correct)
Which of the following is considered an informal contract?
Which of the following is considered an informal contract?
- Letter of credit
- Bill of exchange
- Lease agreement for an apartment (correct)
- Promissory note
What distinguishes a unilateral contract from a bilateral contract?
What distinguishes a unilateral contract from a bilateral contract?
Which type of contract typically relies more on substance rather than form?
Which type of contract typically relies more on substance rather than form?
Under what circumstances do express contracts usually operate?
Under what circumstances do express contracts usually operate?
What type of contract is formed by the words or conduct of the parties?
What type of contract is formed by the words or conduct of the parties?
Which type of contract has been fully performed by both parties?
Which type of contract has been fully performed by both parties?
In the case of a voidable contract, what option does one party have?
In the case of a voidable contract, what option does one party have?
What type of contract exists, but cannot be enforced due to a legal defense?
What type of contract exists, but cannot be enforced due to a legal defense?
In the case involving Seawest Services Association and the Copenhavers, what type of contract was found to exist?
In the case involving Seawest Services Association and the Copenhavers, what type of contract was found to exist?
What is required for a contract to be considered valid?
What is required for a contract to be considered valid?
What is acceptance in the context of contracts?
What is acceptance in the context of contracts?
Which form of communication can sometimes inadvertently create a valid contract?
Which form of communication can sometimes inadvertently create a valid contract?
What is required for an acceptance to be valid?
What is required for an acceptance to be valid?
In which scenario can informal electronic exchanges lead to the formation of valid contracts?
In which scenario can informal electronic exchanges lead to the formation of valid contracts?
Who can accept an offer and create a binding contract?
Who can accept an offer and create a binding contract?
In what context do attorneys sometimes use e-mails as part of the negotiation process?
In what context do attorneys sometimes use e-mails as part of the negotiation process?
