Question 1

It is unethical to use your lawyer as an excuse for a provision of a contract, such as, "My lawyer insists that I have a liquidated damages clause..."

Accepted Answer

A) True 
 B)False

Question 2

"Scrivener's error" is another (fancier)name for a typo.

Accepted Answer

A) True 
 B)False

Question 3

An agreement should definitely be in writing if you do not have an ongoing relationship with the other party.

Accepted Answer

A) True 
 B)False

Question 4

Lawyers prefer to negotiate touchy subjects as they arise rather than address them at the beginning of a relationship.

Accepted Answer

A) True 
 B)False

Question 5

Some contracting parties are intentionally vague in contract terms.

Accepted Answer

A) True 
 B)False

Question 6

Marsha and Antonio make a contract in which Marsha agrees to sell Antonio an expensive and rare piece of art. In the contract, Marsha states that she has the authority to enter into an agreement with Antonio, that she owns the piece of art, and that the art is authentic and not a forgery. These statements are examples of

Accepted Answer

A)  covenants.
B)  representations and warranties.
C)  choice of law provisions.
D)  riders.

Question 7

Which of the following is a standard provision frequently found in contracts?

Accepted Answer

A)  choice of forum
B)  understanding
C)  choice of compensation
D)  mediation

Question 8

What is a force majeure event?

Accepted Answer

A)  any action that makes the contract unprofitable for either party
B)  any finding in a contract that shows a provision was deliberately left unclear
C)  a disruptive, unexpected occurrence for which neither party is to blame that prevents one or both parties from complying with a contract
D)  any happening that fulfills one of the conditions in the contract, making it enforceable

Question 9

Bob, a house painter, contracts with Ollie to paint a rental house that Ollie owns. Bob hires Rob to take his place as the painter on this contract. What has Bob done?

Accepted Answer

A)  made a scrivener's error
B)  severed the contract
C)  delegated his duties
D)  assigned his rights

Question 10

The legal term for a promise in a contract is "provision."

Accepted Answer

A) True 
 B)False

Question 11

Standard provisions in a contract that are often listed under the heading "Miscellaneous" are called

Accepted Answer

A)  boilerroom.
B)  boilerplate.
C)  boilerpot.
D)  boilertape.

Question 12

Any ambiguity in a contract is interpreted against the party who drafted the contract.

Accepted Answer

A) True 
 B)False

Question 13

If the subject of the contract includes issues that may be controversial or "touchy," it is best to

Accepted Answer

A)  keep lawyers out of the negotiation, so relationships are not strained.
B)  deal with them up front before the relationship becomes strained.
C)  deal with them one at a time, as the problems arise.
D)  state your position up front and stand firm when the other party objects.

Question 14

Define and compare the terms "vagueness" and "ambiguity."

Accepted Answer

Vagueness occurs when the parties do not...

Exam 13: Practical Contracts

The legal term for a promise in a contract is "provision."

Correct Answer
verified

An agreement should definitely be in writing if you do not have an ongoing relationship with the other party.

Correct Answer
verified

"Scrivener's error" is another (fancier)name for a typo.

Correct Answer
verified

Standard provisions in a contract that are often listed under the heading "Miscellaneous" are called

Correct Answer
verified

Bob, a house painter, contracts with Ollie to paint a rental house that Ollie owns. Bob hires Rob to take his place as the painter on this contract. What has Bob done?

Correct Answer
verified

What is a force majeure event?

Correct Answer
verified

Some contracting parties are intentionally vague in contract terms.

Correct Answer
verified

It is unethical to use your lawyer as an excuse for a provision of a contract, such as, "My lawyer insists that I have a liquidated damages clause..."

Correct Answer
verified

Lawyers prefer to negotiate touchy subjects as they arise rather than address them at the beginning of a relationship.

Correct Answer
verified

Which of the following is a standard provision frequently found in contracts?

Correct Answer
verified

Any ambiguity in a contract is interpreted against the party who drafted the contract.

Correct Answer
verified

Define and compare the terms "vagueness" and "ambiguity."

Correct Answer
verified
Vagueness occurs when the parties do not...
View Answer

Correct Answer
verified

If the subject of the contract includes issues that may be controversial or "touchy," it is best to

Correct Answer
verified

Exam 13: Practical Contracts

The legal term for a promise in a contract is "provision."

Correct AnswerverifiedShow Answer

An agreement should definitely be in writing if you do not have an ongoing relationship with the other party.

Correct AnswerverifiedShow Answer

"Scrivener's error" is another (fancier)name for a typo.

Correct AnswerverifiedShow Answer

Standard provisions in a contract that are often listed under the heading "Miscellaneous" are called

Correct AnswerverifiedShow Answer

Bob, a house painter, contracts with Ollie to paint a rental house that Ollie owns. Bob hires Rob to take his place as the painter on this contract. What has Bob done?

Correct AnswerverifiedShow Answer

What is a force majeure event?

Correct AnswerverifiedShow Answer

Some contracting parties are intentionally vague in contract terms.

Correct AnswerverifiedShow Answer

It is unethical to use your lawyer as an excuse for a provision of a contract, such as, "My lawyer insists that I have a liquidated damages clause..."

Correct AnswerverifiedShow Answer

Lawyers prefer to negotiate touchy subjects as they arise rather than address them at the beginning of a relationship.

Correct AnswerverifiedShow Answer

Which of the following is a standard provision frequently found in contracts?

Correct AnswerverifiedShow Answer

Any ambiguity in a contract is interpreted against the party who drafted the contract.

Correct AnswerverifiedShow Answer

Define and compare the terms "vagueness" and "ambiguity."

Correct AnswerverifiedVagueness occurs when the parties do not...View AnswerShow Answer

Correct AnswerverifiedShow Answer

If the subject of the contract includes issues that may be controversial or "touchy," it is best to

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Vagueness occurs when the parties do not...
View Answer

Correct Answer
verified

Correct Answer
verified