PA130 Unit 2 Test Answers

Grading Summary

These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Question Type:

Date and Time Started:
Time Spent:
Points Received:

# Of Questions:

9/3/2014 9:06:38 PM
05 min , 25 secs
20 / 20 (100%)

# Correct:

True/False

7

7

Multiple Choice

3

3

Grade Details - All Questions

Question 1. Question :

Student
Answer:

As a general rule, if the action upon which you are relying as consideration is something you are already legally bound to do, it is not valid consideration.

True

Points Received:

False

2 of 2

Comments:

Question 2. Question :

Student
Answer:

Pledges to charities are enforceable as a matter of public policy, even though they are really a gift.

True

Points Received:

False

2 of 2

Comments:

Question 3. Question :

Student
Answer:

A court must be able to objectively recognize a benefit in order to determine legal value.

True

Points Received:

False

2 of 2

Comments:

Question 4. Question :

The basis for the bargained for exchange between the parties

of a contract that has legal value is known as:
Student Answer:

Consideration
Moral obligation
Condition
Conflagration

Points Received:

2 of 2

Comments:

Question 5. Question :

Student
Answer:

The parties can reuse past consideration as valid consideration in the present transaction.

True

Points Received:

False

2 of 2

Comments:

Question 6. Question :

Student
Answer:

If a valid condition to a contract fails, the contract is unenforceable. True

Points Received:

False

2 of 2

Comments:

Question 7. Question :

Student Answer:

If a parent promises to give a child $1,000 on the child’s 21stbirthday, but then the parent refuses to give the money when the child turns 21, the child will win a lawsuit to enforce the contract no legal value

moral obligation

illusory promise

legal value

Points Received:

2 of 2

Comments:

Question 8. Question :
Student Answer: