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Lesson 2 Quiz

This summarizes a 10 question true/false quiz about contract law concepts. The quiz can only be taken once and answers can be saved and resumed later. It includes questions about consideration, promissory estoppel, minority, disaffirmance, intoxication, non-compete agreements, covenants not to sue, and a minor's right to disaffirm a contract.

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DarienDBKearney
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57 views3 pages

Lesson 2 Quiz

This summarizes a 10 question true/false quiz about contract law concepts. The quiz can only be taken once and answers can be saved and resumed later. It includes questions about consideration, promissory estoppel, minority, disaffirmance, intoxication, non-compete agreements, covenants not to sue, and a minor's right to disaffirm a contract.

Uploaded by

DarienDBKearney
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Take Test: Lesson 2 Quiz

Test Information
Description

Respondus

Instructions
Multiple Attempts
Not allowed. This test can only be taken once.
Force Completion
This test can be saved and resumed later.
Question Completion Status:
Save and Submit

1.

QUESTION 1

A later promise to do what one already has a legal duty to do is legally


sufficient consideration.
True
False

10 points

QUESTION 2

1.

An illusory promise is a promise that is enforceable without


consideration.
True
False

10 points

1.

QUESTION 3

A businessperson who sells a business in reliance on promises by


another is not entitled to damages under the doctrine of promissory estoppel.
True
False

10 points

QUESTION 4

1.

A minor's right to disaffirm a contract terminates automatically when


the person reaches the age of majority.
True
False

10 points

QUESTION 5

1.

Disaffirmance is the legal avoidance of a contractual obligation.


True
False

10 points

1.

QUESTION 6

A person who enters into a contract when he or she is intoxicated can


void the contract only if the intoxication was involuntary.
True
False

10 points

QUESTION 7

1.

A person who enters into a contract when he or she is intoxicated can


void the contract if the terms are obviously favorable to the other party.
True
False

10 points

1.

QUESTION 8

A covenant not to compete that is part of an employment contract will


generally be struck down.
True
False

10 points

QUESTION 9

1.

After an accident with a driver for General Transport Company (GTC),


Paul signs a covenant not to sue GTC for damages in a tort action if it pays for
the damage to his car. This covenant
bars recovery only if GTC pays.
is an illusory contract.
is barred by the preexisting duty rule.
is unconscionable.
10 points

1.

QUESTION 10

Sue, a minor, signs a contract to buy a computer from Tom, the owner
of United Computer Store. Sue's right to disaffirm the contract

does not change the fact that Tom is bound by the contract.
does not yet exist because Sue is still a minor.
gives Tom, an adult, the right to disaffirm the contract.
is not valid because a computer is a "necessary.
10 points

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