KS Bar Contracts 5

Question 1

What is the legal effect of a valid accord and satisfaction on the original contract obligation?

Accepted Answer

It discharges the original duty upon performance of the accord

Answer

It suspends but does not extinguish the original duty

Answer

It creates a new obligation in addition to the original

Answer

It is only effective if the original contract was in writing

Question 2

A party seeks rescission of a contract based on fraudulent misrepresentation. Which element distinguishes fraud from innocent misrepresentation?

Accepted Answer

The speaker's knowledge of falsity or reckless disregard for the truth (scienter)

Answer

The falsity of the statement

Answer

The materiality of the misrepresentation

Answer

Justifiable reliance by the recipient

Question 3

Under Kansas law, an agreement in restraint of trade (non-compete) is enforceable only if it is:

Accepted Answer

Ancillary to a legitimate business purpose and reasonable in time, geography, and scope

Answer

Unlimited in time and geography

Answer

Supported by a separate payment beyond regular salary

Answer

Approved by the Kansas Secretary of State

Question 4

When a contract is discharged by novation, what happens to the original promisor's obligation?

Accepted Answer

It is extinguished and the new party substitutes as the sole obligor

Answer

It remains as a secondary obligation

Answer

It is suspended pending the new party's performance

Answer

It converts to a conditional obligation

Question 5

Which of the following BEST describes the 'battle of the forms' problem addressed by UCC § 2-207?

Accepted Answer

Conflicting or additional terms in acceptance or confirmation forms sent between merchants

Answer

Disputes over which party signed the contract first

Answer

Ambiguous quantity terms in purchase orders

Answer

Disputes over who bears the risk of loss during shipping

Question 6

A buyer of real estate discovers that the seller knew of hidden structural defects and said nothing. Kansas courts would most likely apply which doctrine to void the contract?

Accepted Answer

Fraudulent concealment

Answer

Mutual mistake

Answer

Impossibility

Answer

Frustration of purpose

Question 7

Which of the following is the BEST example of adequate consideration supporting a contract?

Accepted Answer

A promise to forbear from exercising a legal right

Answer

A promise to perform a preexisting legal duty

Answer

A past act performed before the promise was made

Answer

A nominal gift of $1 recited but never exchanged