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LEGL 2700 Roessing Test 3 Questions And 100% Correct Answers
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LEGL 2700 Roessing Test 3 Questions And100% Correct Answers
contract - ANSWER a legally enforceable promise or an exchange of promises
Uniform Commercial Code (UCC) - ANSWER -covers the sale of goods
-goods are tangible, movable items of personal property
-applies to individuals & firms
-uniform state law
-Article 2: applies to contracts
-Section 207: "Battle of Forms" -> Deal still goes through
bilateral contracts - ANSWER -involve a promise for promise exchange ( mutual
promises)
-acceptance is before action
unilateral contracts - ANSWER -occur when one party makes a promise in return for
some actual performance
-ex. lost pet reward
-acceptance has a time frame before action is carried out
express contract - ANSWER parties speak about promised terms of their agreement
implied-in-fact contracts - ANSWER -result from the actions of the parties, rather than
from what was said
-Ex. asking an accountant for advice -> this implies a promise to pay the going rate for
this advice
,Leyden v. American Accreditation Healthcare Commission - ANSWER -Leyden was
terminated from employment -> claims termination was a breach of an implied contract
-enforcing implied-in-fact contracts is an essential means of ensuring two parties' intent
to make binding promises is honored
-implied-in-fact must have the same elements as contracts -> acceptance and
consideration
Employers may diminish the at-will employment presumption through statements made
about employees' rights and expectations in policies and handbooks.
implied-in-law contract - ANSWER when one party is unjustly enriched at the expense of
another, the law may imply a duty on the first party to pay the second even though there
is no contract between the two parties
quasi-contract - ANSWER not true contracts, but a judicial remedy to prevent on part
from receiving unjust enrichment
enforceable contract - ANSWER when courts uphold the validity of such promises
unenforceable contract - ANSWER if a nonperforming party has a justifiable reason for
noncompliance with a promise
valid contract - ANSWER -when an agreement is enforceable because all the essential
requirements are present
-can be voided by both parties
void contract - ANSWER -one that apparently is an agreement but is not because of the
failure to satisfy an essential requirement for validity and enforceability
-only minor can get out of contract
in pari delicto - ANSWER a situation in which both parties are equally at fault in an illegal
,contract
voidable contract - ANSWER -an agreement when at least one party has a right to
withdraw from the promise made without incurring any legal liability
can't be avoided by either parties
executed contract ANSWER one in which the parties have performed their promises
executory contract ANSWER when the parties have not yet performed their agreement
Elements of an Enforceable Contract ANSWER -Offer to enter into a contract
-Acceptance of the offer
-Consideration for each promise
-Capacity of each party to enter into a binding agreement
-Legality of subject matter
Defenses to Contract Enforcement - ANSWER -Improper form when a writing is required
-no true meeting of the minds due to fraud or mistake
offer - ANSWER contains a specific promise and a specific amount
indefiniteness - ANSWER When the terms of an agreement are not definite and specific
revocation - ANSWER when the offeror retracts the offer before the acceptance
rejection - ANSWER -when the offeree rejects the offer
-voids the offer
, counteroffer - ANSWER -when the offeree makes a counterproposal
-has the effect of rejecting the original offer and sending back a new offer for a different
contract
-can't change offer and get original offer
lapse of time - ANSWER when the offeree fails to accept by a deadline defined in the
offer or after a reasonable period of time
Subject Matter Destruction when the object of the contract is destroyed or legally
eliminated
Offeror Death or Insanity -when the offeror no longer has capacity to make the offer
-can revoke offer on your behalf
Subject Matter Illegality when a change in the law renders agreement illegal,
acceptance is no longer possible
Acceptance -is necessary to create a valid, enforceable contract
-"mirror image rule"- common law
-counter offer = rejection under common law
Mirror Image Rule - ANSWER for an acceptance to form a legally enforceable contract,
the general contract law demands that the acceptance precisely match it
Gottlieb and Co v. Alps South Corporation - ANSWER -Alps sought consequential
damages from Gottlieb arising from complaints from the customers.
-Gottlieb argued that the exclusion barred such liability in its finished goods form
The court held that Gottlieb's term was part of the contract despite appearing only on
Gottlieb's forms and not being specifically discussed between parties
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