IA Bar Contracts

Question 1

Which of the following is NOT a required element for a contract to be enforceable?

Accepted Answer

Written documentation

Answer

Offer

Answer

Acceptance

Answer

Consideration

Question 2

In a contract for the sale of goods, when does a contract become enforceable under the UCC if no price is agreed upon?

Accepted Answer

When the parties agree on a reasonable price at the time of delivery

Answer

When the buyer makes an offer

Answer

When the seller delivers the goods

Answer

When the contract is signed by both parties

Question 3

Which of the following would be considered a breach of contract?

Accepted Answer

A party failing to deliver goods as agreed without a valid excuse

Answer

A party performing their obligations late but still fulfilling them

Answer

A party delivering the wrong quantity of goods

Answer

A party performing more than what was required under the contract

Question 4

Which type of contract is voidable by a party if it was entered into under duress?

Accepted Answer

Voidable contract

Answer

Executed contract

Answer

Void contract

Answer

Unilateral contract

Question 5

What is the remedy for breach of contract where the non-breaching party seeks to be put in the position they would have been in had the contract been performed?

Accepted Answer

Compensatory damages

Answer

Consequential damages

Answer

Restitution

Answer

Specific performance