B-Law Exam 1: Contracts Practice

B-Law Exam 1: Contracts Practice

Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) If a man sells a car, valued at $10,000, to a woman at a

written contract price of $40. This contract is most likely:

• Valid and enforceable
• Invalid due to a lack of adequate consideration
• Valid only if she accepts the car
• Invalid due to the Statute of Uses - Correct Answers ✅A

Which of the following contracts must be in writing?

• The sale of corn, valued at $400.
• The sale of a plane ticket
• The sale of land
• The building of a house, to be completed in 11 months -

Correct Answers ✅C If two parties agree to sell a car for $10,000 but the attorney drafting the contract accidentally writes "$1,000," what is likely to happen

• The parties are stuck with the mistaken price
• A court can reform the contract
• The contract is valid since it negatively affects only one

part

• There is no contract since the parties never had a

"meeting of the minds" - Correct Answers ✅B 1 / 2

B-Law Exam 1: Contracts Practice

Questions and Verified Answers, 100% Guarantee Pass (Latest 2025)

• If a contractor offers to build a porch on another's house

for $1,000. The homeowner replies "That sounds like a good deal but I think $900 sounds more fair." The contractor declines to take $900. The homeowner then remarks "Ok, $1,000 is fine." The contractor then says "Y'know, I'd rather not build your porch for $1,000." What is the result?A) There is a valid contract for $1,0000

• There is a quasi contract for $1,000
• There is no contract
• The parties have an agreement to agree on building the

porch, but a court must determine the value of the contract - Correct Answers ✅C An agreement is made where The Seller is to sell a car to The Buyer, but The Buyer is supposed to pay a Third Party. If The

Buyer refuses to pay, then:

• The Buyer is the only party that can sue to enforce the

contract

• There is no valid contract since a third party is the primary

beneficiary

• There is no valid contract due to a lack of consideration
• The Third Party can sue to enforce The Buyer and The

Seller's agreement - Correct Answers ✅D

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