LEGL 2700 Roessing Test 3 Exam Questions And Answers
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LEGL 2700 Roessing 2
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LEGL 2700 Roessing 2
LEGL 2700 Roessing Test 3 Exam Questions And Answers
contract - answersa legally enforceable promise or an exchange of promises
Uniform Commercial Code (UCC) - answers-covers the sale of goods
-goods are tangible, movable items of personal property
-applies to individuals & firms
-unif...
LEGL 2700 Roessing Test 3 Exam Questions And
Answers
contract - answers✔✔a legally enforceable promise or an exchange of promises
Uniform Commercial Code (UCC) - answers✔✔-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 - answers✔✔-involve a promise for promise exchange ( mutual promises)
-acceptance is before action
unilateral contracts - answers✔✔-exist when a promise is made in exchange for performance
-ex. reward for lost pet
-acceptance has a time period before action is performed
express contracts - answers✔✔parties discuss the promised terms of their agreement
implied-in-fact contracts - answers✔✔-arise from the conduct of the parties rather than from
the words
-Ex. asking an accountant for advice -> implies a promise to pay the going rate for this advice
Leyden v. American Accreditation Healthcare Commission - answers✔✔-Leyden got
terminated from her job -> claimed that termination was a breach of an implied contract
-enforcing implied-in-fact agreements is an important means of ensuring that two parties'
intent to make binding promises is honored
-implied-in-fact must contain the same elements as contracts -> acceptance and consideration
-employers can weaken the presumption of an at-will employment relationship by making
statements about the employee rights and expectation in policies and manuals
implied-in-law contract - answers✔✔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 - answers✔✔not true contracts, but a judicial remedy to prevent on part from
receiving unjust enrichment
enforceable contract - answers✔✔when courts uphold the validity of such promises
unenforceable contract - answers✔✔if a nonperforming party has a justifiable reason for
noncompliance with a promise
valid contract - answers✔✔-when an agreement is enforceable because all the essential
requirements are present
-can be voided by both parties
void contract - answers✔✔-one that appears to be an agreement but lacks an essential
requirement for validity and enforceability
-only minor can get out of contract
in pari delicto - answers✔✔a situation in which both parties are equally at fault in an illegal
contract
voidable contract - answers✔✔-an agreement when at least one party has the right to
withdraw from the promise made without incurring any legal liability
-can't be voided by either parties
executed contract - answers✔✔one in which the parties have performed their promises
executory contract - answers✔✔when the parties have not yet performed their agreement
Elements of an Enforceable Contract - answers✔✔-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 - answers✔✔-Improper form when a writing is required
-no true meeting of the minds due to fraud or mistake
offer - answers✔✔contains a specific promise and a specific amount
indefiniteness - answers✔✔When the terms of an agreement are not definite and specific
revocation - answers✔✔when the offeror retracts the offer before the acceptance
rejection - answers✔✔-when the offeree rejects the offer
-voids the offer
counteroffer - answers✔✔-when the offeree makes a counterproposal
-has the effect of rejecting the original offer and sending back a new offer for a different
contract
lapse of time - answers✔✔when the offeree fails to accept by a deadline defined in the offer
or after a reasonable period of time
subject matter destruction - answers✔✔when the object of the contract is destroyed or legally
eliminated
offeror death or insanity - answers✔✔-when the offeror no longer has the capacity to make
the offer
-can revoke offer on your behalf
subject matter illegality - answers✔✔when a change in the law renders the agreement illegal,
acceptance is no longer possible
acceptance - answers✔✔-is necessary to create a valid, enforceable contract
-"mirror image rule" -> common law
-counter-offer = rejection under common law
Mirror Image Rule - answers✔✔for an acceptance to create a binding contract, standard
contract law requires that the acceptance must match it exactly
Gottlieb and Co v. Alps South Corporation - answers✔✔-Alps requested consequential
damages from Gottlieb related to the customers' complaints
-Gottlieb claimed that its finished goods form excluded such liability
-Court found that Gottlieb's term was included in the contract even though it appeared only
on Gottlieb's forms and was not specifically discussed by the parties
-Alps' failure to read Gottlieb's forms was irrelevant -> generally true as a contract law
principle
-If Alps foresaw the likelihood of certain outcomes, it should have addressed it with Gottlieb
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