27. doris purchased a new automobile on credit when she was sixteen years old. two days after her nineteenth birthday she sought to rescind her obligation to make further payments. assuming that eighteen is the age of majority, the car dealer would:

(a) be able to enforce her obligation since doris had ratified the contract

(b) not be able to enforce her obligation since doris had not ratified the contract

(c) be able to enforce her obligation since the car dealer was a competent party at all times

(d) not be able to enforce her obligation since doris did not ratify the contract prior to her eighteenth birthday

28. an exculpatory clause is a provision of contract that:

(a) requires extra protection by one party
(b) excludes an option contract
(c) disclaims liability
(d) is never upheld by the courts

29. exculpatory clauses in bailees’ contracts are usually held to be:

(a) illegal, if the court feels that they were not properly communicated to the bailor

(b) illegal – even if they are properly communicated to the bailor – if their terms purport to free the bailee from liability arising out of the bailee’s negligence

(c) legal, if properly communicated to the bailor (even if they purport to free the bailee from liability arising out of the bailee’s negligence)

(d) a and c

30. statutes involving usury:

(a) are illegal
(b) limit the amount of interest that may be charged on loans
(c) can only be federal statutes
(d) can only be state statutes

31. roger evans, a real estate broker licensed in kansas, thomas sell some land located in missouri. if roger is not a licensed broker in missouri, he:

(a) cannot collect a commission since he did not represent the buyer
(b) can collect a commission since he rendered a valuable service
(c) cannot collect a commission since the licensing law is violated
(d) can collect a commission since he is licensed in a state that borders with missouri

32. dandy, a consumer of fine clothes, promised to pay $1,400 to alfred who promised to make a business suit for dandy. if alfred has completed the suit but dandy has not picked it up or paid any money, which of the following is the most accurate description of this contract? it is a:

(a) unilateral, unenforceable, implied-in-fact contract
(b) unilateral, valid, quasi-contract
(c) bilateral, voidable, expressed executory contract
(d) bilateral, valid, expressed contract which is partially executed and partially executory

33. a contractual agreement may be expressed in writing, or it may be orally stated. in the alternative, an implied-in- fact contract:

(a) is created when the parties manifest their agreement by conduct rather than by words
(b) is basically the same thing as a contract implied-by-law
(c) is basically the same thing as a quasi-contract
(d) is basically the same thing as an invalid contract

34. actionable fraud can be defined as requiring all the following elements except for:

(a) knowledge of the misrepresentation of a material fact by the speaker
(b) accurate representation of a material fact
(c) justifiable reliance
(d) injury

35. if a person can prove that he was honestly mistaken as to the terms of a contract that he has made, even though it was not apparent to the other party, as a general rule he:

(a) can rescind the contract
(b) cannot rescind the contract
(c) can rescind the contract if he can show that the mistake was not the result of negligence on his part
(d) none of the above