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A painter finishes the work he promised ahead of schedule and is paid for his services. This is an example of a(n) _____________ contract.
A. voidable
B. executory
C. express
D. executed
2. A major home improvement store sells home appliances but contracts with a plumbing and electrical company to provide installation for customers. This is an example of
A. commission
B. assignment
C. consignment
D. delegation
3. A large company contracts with Jon to do some technical writing for the company’s website. Jon promises to finish the writing by a certain date. This exemplifies which type of contract?
A. quasi–contract
B. unilateral contract
C. bilateral contract
D. unenforceable contract
4. Which of the following is NOT an element of a contract
A. Both parties must have contractual capacity.
B. Only one party must give something of value.
C. Both parties must be in agreement.
D. The contract must not break any laws.
5. Informal contracts are so named because
A. they are not fully enforceable.
B. they are not typically used.
C. informal language is used on the contract.
D. no special form is required for their creation.