True or false question - theory of contract

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Reference no: EM13105870

1. Under the objective theory of contract, the intention to enter into a contact is judged by outward, objective facts as interpreted by a reasonable person. T/F
2. It is necessary for a contact to contain reasonably definite terms to be enforced. T/F
3. A court of law will not as a rule question the adequacy of consideration. T/F
4. As a general rule, contacts involving interests in land must be proven with a writing to be enforceable in court. T/F
5. Under an exception to statute of frauds, an oral contract for a sale of land may be at least partially enforceable if the contract has been partially performed. T/F
6. As a general rule, a prenuptial agreement does not have to be in writing to be enforceable. T/F
7. When a buyer breaches a contract the seller can demand the standard measure of damages, which is determined by subtracting the contact price from the market price. T/F
8. Specific performance is the remedy always used when one party has breached a contact for the sale of goods. T/F
9. A buyer of a house can force the seller to specifically perform the contact and deliver a deed to the property because every house has a unique address. T/F
10. A movie producer can force an actor to specifically perform under a valid contact. T/F
11. When the term of a formal signed writing contract are clear, and there is no fraud or deceit, the parole evidence rule bars oral evidence that contradicts those terms. T/F
12. Damages are designed to compensate a no breaching party for the loss of the bargain and thus that party's reasonable expectations are satisfied. T/F
13. In a contract for a sale of goods, the usual measure of a disappointed buyer's damages is the market price less the contract price. T/F
14. Punitive damages are often awarded in breach of contracts actions. T/F
15. A unilateral contract is formed when the one receiving the offer completes the requested act or performance. T/F
16. When the words in a contract have more than one meaning, they are generally interpreted in favor of the party who drafted the contract. T/F
17. It is not necessary to prove a contract to sell land by writing when both parties admit in court that they entered into a contract. T/F

Reference no: EM13105870

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