Reference no: EM132223768

1. What can be done to make a gratuitous contract enforceable?

a. They must be done in writing.

b. The offeree offers to do something in exchange.

c. They must be notarized.

d. They cannot be made enforceable.

2. The doctrine of quasi contracts is designed to -

a. All of the answer choices are true.

b. prevent unjust enrichment.

c. fill in the provisions of omitted terms.

d. prevent oral contracts.

3. With regard to informal versus formal contracts, which is NOT true?

a. A negotiable instrument is a form of formal contract.

b. Informal contracts are only enforceable if specific words are used.

c. All contracts that are not formal are informal.

d. A letter of credit is a form of formal contract.

4. Which of the following is NOT true with regard to acceptance?

a. Express authorization means the offeror has specified the means by which the offer must be accepted.

b. Implied authorization means the custom between the parties may be considered to determine whether acceptance has been made by  acceptable means.

c. Implied authorization means the offer may be accepted by any medium reasonable in the circumstances.

d. The date an offer expires is governed by statute.