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LEGL2700- Roessing Test 3 fully solved & verified for accuracy 2025(GUARANTEED SUCCESS)
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LEGL2700- Roessing Test 3 fully solved & verified for accuracy 2025(GUARANTEED SUCCESS)
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LEGL2700- Roessing Test 3 fullysolved & verified for accuracy
2025(GUARANTEED SUCCESS)
contract - answer a legally enforceable promise or an exchange of
promises
Uniform Commercial Code - answer most important example of
state-based legislation impacting contract law
goods - answer tangible, movable items of personal property
bilateral contract - answer an agreement containing mutual
promises
unilateral contract - answer an agreement with only one promise,
and only one party is committed to perform; seeks an action rather
than a promise in return
express contract - answer contract that arises from interactions in
which parties actually discuss the promised terms of their
agreement
implied-in-fact contract - answer contract that arises from the
conduct of the parties rather than from words
implied-in-law contract - answer when the law implies a duty on a
party to the second even though there is no contract between them
"quasi-contract"
,enforceable contract - answer the court upholds the validity of a
promise
unenforceable contract - answer a defense exists that denies the
legal enforcement of an agreement
valid contract - answer an agreement is enforceable because all the
essential requirements are present
void contract - answer an agreement that lacks an essential
requirement for validity and enforceability
voidable contract - answer an agreement when at least one party
has the right to withdraw from the promise made without incurring
any legal liability
executed contract - answer a contract in which the parties have
performed their promises
executory contract - answer when the parties have not yet
performed their agreement
offer - answer contains a specific promise and a specific demand
offeror - answer person making the offer
offeree - answer the person to whom the offer is made
revocation - answer when the offeror retracts the offer before the
acceptance
, rejection - answer when the offeree rejects the offer
counteroffer - answer when the offeree makes a counterproposal
lapse of time - answer when the offeree fails to accept by a deadline
defined in the offer or after a reasonable period of time
termination - answer the offeree's legal power to bind the offer ends
subject matter destruction - answer when the object of the contract
is destroyed or legally eliminated
offeror death or insanity - answer when the offeror no longer has
the capacity to make the offer
subject matter illegality - answer when a change in the law renders
the agreement illegal, acceptance is no longer possible
acceptance - answer necessary to create a valid, enforceable
contract
mirror image rule - answer the acceptance of a contract must mirror
the offer-- match it exactly
prior course of dealing - answer the way two people have done
business in the past
mailbox rule - answer the acceptance of an offer becomes binding
when it is "deposited" with the postal service
"deposited acceptance rule"
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