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LEGAL EXAM III REVIEW Questions and Correct Answers (elaborations) with 100% Accurate , Verified , Latest fully Updated , 2024/2025 ,Already Passed , Graded A+, Complete solutions guarantee distinctions Rationales

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LEGAL EXAM III REVIEW Questions and Correct Answers (elaborations) with 100% Accurate , Verified , Latest fully Updated , 2024/2025 ,Already Passed , Graded A+, Complete solutions guarantee distinctions Rationales

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  • August 3, 2024
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  • 2024/2025
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LEGAL EXAM III REVIEW
"An individual shall be ineligible for participation in an intercollegiate sport if he or she
has agreed to be represented by an agent for the purpose of marketing his or her
athletic ability... in that sport."

The problem with NCAA regulations is they only apply to students and institutions.

Has no control over sports agents.
Therefore, an agent can violate NCAA rules without fear of NCAA sanctions. - ✔✔The
NCAA and Agency Law

1. best and most binding contracts are created w/ the advice and assistance of an
attorney.
2. the greater the value of the goods involved, the more you should consider legal
counsel.
3. if you really care whether the other party fulfills the contract, put it in writing.
4. be sure the contract clearly identifies all relevant items and issues.
100%
5. be certain all parties have the legal capacity to enter into a binding contract.
6. pay attention to such things as college catalogs, personal manuals, and
organizational by-laws. - ✔✔Managerial Guidelines

1. if the other party acted fraudulently and there is no significant damage, seek
recession.
2. if the problem is the result of some honest mistake, seek reformation.
3. seek specific performance only if the product or service is important and cannot be
duplicated. - ✔✔Judicial Remedies for a Breach of Contract

1. The Offer
2. Acceptance
3. Consideration - ✔✔Steps to Form a Contract:

a compilation of the general principles of contract common law. - ✔✔Restatement of
Contracts

, a promise can be enforced by law if, after relying on that promise, the promisee suffers
a resulting loss. - ✔✔Promissory Estoppel

act solely and completely for the befit of the principal. - ✔✔Duty of Loyalty

actual authority inferred from words or conduct manifested to the agent by the
principal. - ✔✔Actual (Implied) Authority

agents typically are required to follow all reasonable instructions given by the principal
(even if damaging to the principal). - ✔✔Duty of Obedience

any duty to act primarily for the benefit of someone else (not one's own personal
interests). - ✔✔Fiduciary Duty

at least 37 states (including Florida) have specific laws that stipulate what can and
cannot be in a contract for consumer protection. - ✔✔Health Club Contracts

100%
based on common law (previous cases). - ✔✔Contract Law

certain contracts are unenforceable unless they are in writing; (sales, mortgage, or
lease of land; services not performed 1 year from date of marking; sale of goods of
$500 or more). - ✔✔Statute of Frauds

code of professional responsibility; regulates the integrity and conduct of all lawyers.

no control over non-lawyer agents. - ✔✔American Bar Association

consists of two promises; both parties are bound/obligated to perform.

ex. car buyer agrees to pay the seller a certain amount of money in exchange for the
title to the car. - ✔✔Bilateral

contract between players (union) and owners (league). - ✔✔Collective Bargaining
Agreement

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