Lesson 5 Introduction to US Contract Law Quiz
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- Question 1 of 10
1. Question
True or False. U. S. contracts are very formalistic, require lawyers to write them, and must be approved by notary publics before they can be signed by non-lawyers.
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2. Question
True or False
A boilerplate provision in a contract is one which contains standard language identical (or very similar) to that contained in other documents of the same type.
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3. Question
True or False
Contracts written and signed in the United States are interpreted based on U. S. federal contract law principles.
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4. Question
Which best completes the sentence?
A contract requires __________ and consideration.
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5. Question
Of the following, which choice has the closest meaning to the following sentence:
Any breach of a contractual obligation must be fixed within ten days of Buyer informing the Seller of this breach.
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6. Question
True or False
Executing a contract means performing it.
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7. Question
When should a court decline to enforce a liquidated damages provision?
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8. Question
Which of the following may be a substitute for consideration?
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9. Question
Which of the following best describes the UCC?
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10. Question
What is the mirror image rule?
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