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:
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: