Question

1. Which of the following is NOT a contract?

   		A promise to purchase a computer given in exchange for a promise to pay $1200.00.
   		A promise to clean an apartment in exchange for a promise to pay $35.00.
   		A promise to cook dinner for a sick friend.
   		All of the above are contracts.

QUESTION 2

1. Which of the following is a VOIDABLE contract?

   		A contract by a 17 year old to purchase a computer.
   		A contract by a repair shop to repair a car.
   		A contract by an 18 year old to purchase a motorcycle.
   		A contract by a 22 year old college student for the purchase of a vacation for a week when school is not in session.
   		None of the selections is a void contract.

QUESTION 3

1. Which of the following is true?

   	A.	To be enforceable a contract must be in writing.
   	B.	Oral contracts are always enforceable.
   	C.	As a general rule, oral contracts are enforceable. Some exceptions exist requiring a writing.
   	D.	None of the selections are true.

QUESTION 4

1. What is true about the origin of the right of freedom of contract?

   	A.	It comes from a statute.
   	B.	It comes from the constitution.
   	C.	It comes from common law (judges' decisions).
   	D.	It comes from an administrative agency regulation.

QUESTION 5

1. A quasi contract:

   	A.	is a contract between two people who are mentally incompetent to enter a contract
   	B.	is another term for an oral contract.
   	C.	is based upon equitable principles.
   	D.	"A" and "C" above are true.
   	E.	All of the selections are true.

Answer 1

Hi

As per policy we will solve only first question here.

A contract must be legally enforceable and written. Social agreements are usually orally made promises.

Here option 3 "A promise of cook meal for a friend" is a social agreement and is not a contract.

Thanks