BBA3210 Human Resource Management

BBA3210 Human Resource Management

QUESTION 1

The common law of contracts is summarized and organized in the:

restatement (Second) of the Law of Contracts.

Uniform Commercial Code.

National Reporter System.

decisions of the U.S. Supreme Court.

QUESTION 2

If Sid says to Pat, “I will sell you my laptop for $200,” and Chris, who overhears Sid’s offer, says, “I accept your offer, and I will buy your laptop for $200,” is a contract formed?

Yes, unless Pat accepts the offer before Chris accepts the offer.

No, the offer was made to Pat, so only Pat can accept the offer.

Yes, an offer can be accepted by anyone who hears the offer.

No, Sid’s offer is not a valid offer because it does not contain a term specifying when the offer has to be accepted.

QUESTION 3

Why do courts usually not consider the adequacy of consideration for a contract?

Courts do not usually have the information necessary to determine adequacy of consideration for a contract.

Courts will not set aside a contract because one of the parties to the contract was not prepared to get the best deal for themselves.

Courts do not determine questions of fact in dealing with contracts.

The Constitution prohibits government from interfering with the validity of contracts.

QUESTION 4

How does an offer differ from an option contract?

An offer has to be communicated before it can be accepted, but an option contract does not have to be communicated.

An offer must contain definite terms, but an option contract is simply an outline of a proposed agreement.

An offer can be revoked by the offeror at any time before the offeree accepts the offer, but an option contract cannot be revoked by the offeror until the time stated in the option contract has expired.

An offer is valid until it is rejected by the offeree, but an option contract ends at the option of the offeror.

QUESTION 5

What is the consideration for a bilateral contract?

The performance of the act that is promised by each party to the contract

That no consideration is required for a bilateral contract

The exchange of promises by the parties to the contract

The act of one party and the promise of the other party

QUESTION 6

If the law will enforce an agreement that contains a set of promises, that agreement is called a(n):

offer.

acceptance.

contract.

quasi-contract.

QUESTION 7

Why is past consideration no consideration at all?

The adequacy of past consideration is difficult to determine.

Past consideration is considered to be illusory.

Past consideration may involve parties who are not involved in the current contract.

Past consideration was provided before the current contract was made, and the current contract requires a benefit that has not yet been conferred.

QUESTION 8

When does the legal concept of promissory estoppel apply?

When the parties have created a valid contract

When an agreement lacks all of the elements to create an enforceable contract

When a party, in reliance on the promise of another, acts to their detriment, and the only way to avoid an injustice is to enforce the promise

When the parties have begun the negotiations for a contract but have not completed those negotiations

QUESTION 9

In the Lucy v. Zehmer case in the assigned reading, Lucy and Zehmer signed a contract in which Zehmer agreed to sell a farm to Lucy. When Zehmer signed the contract, he whispered to his wife that he was joking and did not really intend to sell the farm. Why did the court enforce that contract?

The court enforced the contract because, though Zehmer whispered to his wife that he did not intend to sell the farm, Lucy did not hear that comment, and Zehmer’s outward manifestations indicated to Lucy an intent to sell.

The court said that it did not matter what Zehmer intended; he signed the contract, and the contract was enforceable.

The court said that written and signed contracts are always enforceable.

The court said that the contract for the sale of land (the farm) is always enforceable.

QUESTION 10

The elements necessary to create an enforceable contract are:

intent, definite terms, and communication to the offeree.

an offer and acceptance of that offer.

genuine assent and proper form.

agreement, consideration, capacity, and legality.

QUESTION 11

Susan, a wealthy widow, invited an acquaintance, John, to her home for a steak dinner on a specific date and at a specific time. John told Susan that he would be delighted to come to dinner and, eager to impress Susan, spent lavishly in preparing for the evening. His purchases included a new blazer, new shoes, an expensive floral arrangement, and champagne for Susan. At the agreed upon date and time, John arrived at Susan’s house only to find that she had left for the evening. John went home and sent Susan an email saying that he came for dinner but she was not home. The next day, Susan sent John an email saying that she was sorry that she had forgotten the dinner and had gone to the theater with friends. Assume that the facts given are admitted and not in dispute. Did Susan and John have a contract? Why, or why not?

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