LEGL 2700 UGA Test 1 Questions and Answers | Latest Version | 2024/2025 | 100% Pass
46 views 1 purchase
Course
LEGL 2700 UGA
Institution
LEGL 2700 UGA
LEGL 2700 UGA Test 1 Questions and
Answers | Latest Version | 2024/2025 |
100% Pass
What is the primary purpose of contract law?
To enforce agreements made between parties and ensure that promises are fulfilled in a
legally binding manner.
What elements must be present for a contract t...
LEGL 2700 UGA Test 1 Questions and
Answers | Latest Version | 2024/2025 |
100% Pass
What is the primary purpose of contract law?
✔✔ To enforce agreements made between parties and ensure that promises are fulfilled in a
legally binding manner.
What elements must be present for a contract to be legally enforceable?
✔✔ Offer, acceptance, consideration, mutual assent, and a legal purpose.
How does consideration function in a contract?
✔✔ Consideration refers to something of value exchanged between parties that binds them to the
contract.
What is the difference between an express contract and an implied contract?
✔✔ An express contract is explicitly stated in written or spoken terms, while an implied contract
is formed based on the actions or circumstances of the parties involved.
1
, What are the typical remedies available for a breach of contract?
✔✔ Remedies for a breach of contract include damages, specific performance, and rescission.
What is the doctrine of "consideration" in contract law?
✔✔ Consideration is a fundamental element of a contract that requires each party to provide
something of value to support their promises.
How does the "capacity" of parties affect the enforceability of a contract?
✔✔ Capacity ensures that parties are legally able to enter into a contract, typically requiring that
they are of legal age and sound mind.
What constitutes a "void" contract?
✔✔ A void contract is one that is invalid from the outset and has no legal effect because it lacks
essential elements or involves illegal activities.
What role do "performance" and "discharge" play in the completion of a contract?
✔✔ Performance refers to the fulfillment of contractual obligations, while discharge occurs
when a contract is completed or otherwise terminated legally.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.73. You're not tied to anything after your purchase.
