BLAW 1 Contracts Game

Column 1

100

A _________ is a future, uncertain event creating a duty to perform.

A. Condition precedent

B. Condition subsequent

C. Condition concurrent

D. None of the above 

A. Condition precedent

200

What are the elements of consideration?

Legally Sufficient Value and Bargained-for-Exchange

300

Contract nonperformance may be excused in which of the following circumstances:

A. Impossibility

B. Supervening illegality

C. Both A and B

D. Neither A nor B

C. Both A and B

400

A person to whom the duty is owed is called the _______.

A. Obligor

B. Obligee

C. Promisor

D. Delegatee

B. Obligee

• A person who owes a duty to perform under a contract is called an obligor.

• A person to whom the duty is owed is called the obligee.

500

The common law governs all of the following EXCEPT:

A. Services

B. Sale of goods

C. Intangible property

D. Real estate

B. Sale of goods

• UCC Article 2 expressly applies to contracts for the sale of goods (2–102):
• UCC 1-105: goods are tangible, movable, personal property.

• Common Law: Applies to sale of services, intangible property (stocks, intellectual property), or real estate.

Column 2

100

What are the elements of agreement?

Offer and Acceptance

200

The __________ standard requires full or perfect compliance with contract terms.

A. Strict performance

B. Substantial performance

C. Clear performance

D. Realistic performance

A. Strict performance

300

True or false? The transfer of rights under a contract is called a delegation.

False

The transfer of rights under a contract is called an assignment. 

The appointment of third person to perform a duty under a contract is called a delegation.

400

If a promisee’s promise really does not bind them to do or refrain from doing a thing, their promise is ________ and cannot serve as consideration.

A. Illusory  

B. Justified

C. Finite

D. Real

A. Illusory  

Illusory Promises

If a promisee’s promise really does not bind them to do or refrain from doing a thing, their promise is illusory and cannot serve as consideration.

500

True or false? Ratification occurs when a person of majority age indicates an intent to be bound by a contract that was made when he/she was a minor. This ratification can be done by express or implied conduct.

True

Ratification (express or implied by conduct) occurs when a person of majority age indicates an intent to be bound by a contract that was made when he/she was a minor.

Column 3

100

A _________ calls for the parties to perform at the same time. 

A. Condition precedent

B. Condition subsequent

C. Condition concurrent

D. None of the above

C. Condition concurrent

200

What are 3 potential areas of issue when it comes to contractual capacity?

Minors

Mental competence

Intoxication

300

True or false? A contract is voidable if a court had previously declared/adjudicated that a person was mentally incompetent and a guardian was appointed.

False

Void

• A contract is void if a court had previously declared/adjudicated that a person was mentally incompetent and a guardian was appointed.

• A contract is voidable if a lack of mental competence is established after a contract was executed.

400

Before the time of performance is due, if the promisor indicates he/she is unwilling or unable to carry out a  contract, then this is a _______________.

A. Impossibility

B. Anticipatory repudiation

C. Mutual agreement

D. Supervening illegality

B. Anticipatory repudiation

500

All of the following are elements of an offer EXCEPT:

A. Parties to a contract must have intent to enter binding agreement

B. Terms must be definite

C. The offer must be communicated to the offeree by the offeror.

D. The existence of subjective intent must be proved.

D. The existence of subjective intent must be proved.

• Offer: is a promise conditional on an act, return promise, or forbearance (refraining from doing something).

• Elements: parties to a contract must have intent to enter binding agreement, terms must be definite, and the offer must be communicated to the offeree by the offeror.

Column 4

100

What are the 4 elements of a contract?

Agreement, Consideration, Capacity, Legality

200

____________ is an agreement without legal effect because the terms or subject are prohibited by law. (choose the BEST answer/letter)

A. Valid contract

B. Unenforceable contract

C. Voidable contract

D. Void contract

D. Void contract

• Valid contract: binding and enforceable agreement.

• Unenforceable contract: meets the basic legal requirements for a contract but may not be enforceable because of some other legal rule.

• Voidable contract: agreement otherwise binding, but due to circumstances surrounding execution, may be rejected at option of one party.

• Void contract: agreement without legal effect because terms or subject are prohibited by law.

300

________ is a contract, usually on a standardized form, offered by a party who is in a superior bargaining position on a “take-it-or-leave-it” basis.

A. Contract of adhesion

B. Express contract

C. Bilateral contract

D. Contract of mutual mistake

A. Contract of adhesion

400

True or false? When a contract is between a minor and a business, then both the minor and the business have the right to disaffirm the contract.

False

The right to disaffirm is personal to the minor (only minor or their guardian may disaffirm the contract).

500

In fraud there is ______, an element of intent to deceive.

A. Negligence

B. Innocence

C. Scienter

D. Duress 

C. Scienter

Column 5

100

A _________ is a future, uncertain event that discharges the duty to perform. 

A. Condition precedent

B. Condition subsequent

C. Condition concurrent

D. None of the above

B. Condition subsequent

200

It is a _________ contract after all of the parties have fully performed their contractual duties.

A. Infinite

B. Term

C. Executed

D. Executory

C. Executed

• Executed: A contract is executed when all of the parties have fully performed their contractual duties.

• Executory: A contract is executory until such duties have been fully performed.

300

Which of the following is NOT a remedy for a breach of contract:

A. Money damages

B. Specific performance

C. Anticipatory repudiation

D. Injunction

C. Anticipatory repudiation

400

Generally, all of the following are covered by the Statute of Frauds EXCEPT:

A. Short term contracts

B. Collateral contracts

C. Real estate contracts

D. Sale of goods over $500 contracts

A. Short term contracts

• Be sure to review the law in your specific state/jurisdiction; however, here are some common examples:
• Collateral Contracts.
• Real Estate Contracts.
• One-Year Contracts.
• Sale of Goods Over $500.
• Executor’s Promises.
• Marriage Contracts.

500

A ___________ is a promise for a promise.

A. Bilateral contract

B. Joint contract

C. Duo contract

D. Unilateral contract

A. Bilateral contract

• Bilateral contracts: two parties make promises to one another.
  • Promise for a promise
• Unilateral contracts: one party makes a promise.
  • Promise for an act