True or False 1. When entering into a contract, parties are expected to exercise

Question

True or False

1. When entering into a contract, parties are expected to exercise reasonable judgment

2.When a promisee agrees not to do something he/she has a legal right to do in exchange for the promisor's promise, it constitutes legal value and therefore is sufficient consideration

3.Concurrent jurisdiction exists when both federal and state courts have the power to hear a particular case.

4.The breach of duty in a negligence case is measured by the "reasonable person" standard.

5. Freedom of contract includes the freedom to make bad bargains.

6.Law must be predictable enough so that people know what to anticipate yet flexible enough to accommodate change.

7.Under the "mailbox rule," an acceptance is usually effective upon the transmission or dispatch by the offeree. However, an attempt by the offeree to accept by non-authorized means is not effective until the acceptance is actually received by the offeror.

8.A contract that has been fully performed is an executory contract.

9.When the issue in a case no longer exists or becomes pointless, the issue is considered moot and the court will no longer issue a decision on that issue.

10. Normally, both parties to a contract are discharged when they have completely performec their contractual obligations.

Explanation / Answer

1. TRUE

2. TRUE

3. TRUE

4. TRUE

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