Reference no: EM132252075

1. With regard to duress, which of the following is NOT true?

a. A contract entered into because of duress is not enforceable against the innocent party.

b. If a party threatens not to sell further products to the other party unless a contract is entered into, it is duress.

c. A threat to do physical harm against a person or extortion constitute duress.

d. To constitute duress, the threatened act must be wrongful; if the threatening party has the right to do something, it is not duress.

2. With regard to the statute of frauds, which of the following is NOT true?

a. The contract must be signed by the person against whom enforcement is sought.

b. The parol evidence rule disallows any evidence than that expressed in the contract.

c. The signatures of all parties must be on the contract.

d. The contract can be written on a napkin, as long as the essential elements are included.

3. Which of the following is NOT an element of a contract?

a. contractual capacity

b. agreement

c. consideration

d. lawful object

e. breach

4. Termination of an offer can occur by -

a. counteroffer by the offeror.

b. rejection by the offeree.

c. an offer made by a different third party.

d. revocation by the offeree.