Baldwin/Whiteside: Introduction to Contracts - Pearson

88. Mistake may be mutual. [True.]
89. When there is disagreement over what a contract means, the court may use the plain meaning
rule. [True.]
90. Reformation is a process by which a third party, such as a court, reframes a written contract
to reflect what the parties intended the contract to mean. [True.]
91. It is desirable for a debtor to perfect its security interest in collateral by placing information
on the public record. [False.]
92. A material mistake is one so fundamental that, had the parties been aware of it, they could not
have consented to the agreement. [True.]
93. “Take it or leave it” contracts not subject to negotiation are known as accepted contracts.
[False.]
94. If the offer does not state how acceptance shall be made, acceptance may be communicated to
the offeror in any reasonable manner. [True.]
95. A person making an offer is called an offeree. [False.]
96. A person receiving an assignment is called an assignee. [True.]
97. A person who holds goods on behalf of the seller is called a bailee. [True.]
98. Duress can be physical, mental, or economic. [True.]
99. An oral contract is never valid. [False.]
100. It is a good idea to check your answers on a final exam. [True.]
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