LEGL 2700 Jason Epstein UGA Questions and Answers | Latest Update | 2024/2025 | 100% Verified
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Course
LEGL 2700 Jason Epstein UGA
Institution
LEGL 2700 Jason Epstein UGA
LEGL 2700 Jason Epstein UGA
Questions and Answers | Latest Update |
2024/2025 | 100% Verified
What is the UCC and what does it govern?
The UCC, or Uniform Commercial Code, governs commercial transactions involving goods
and contracts for their sale.
How does the mirror image rule app...
LEGL 2700 Jason Epstein UGA
Questions and Answers | Latest Update |
2024/2025 | 100% Verified
What is the UCC and what does it govern?
✔✔ The UCC, or Uniform Commercial Code, governs commercial transactions involving goods
and contracts for their sale.
How does the mirror image rule apply to contract acceptance?
✔✔ The mirror image rule requires that the acceptance of an offer must match the terms of the
offer exactly for a contract to be formed.
What does freedom of contract refer to?
✔✔ Freedom of contract refers to the right of individuals to enter into agreements and determine
the terms without interference, as long as the contract is lawful.
What is capacity to contract and why is it important?
✔✔ Capacity to contract ensures that parties entering into a contract have the legal ability to do
so, typically requiring they be of sound mind and of legal age.
1
,What role does consideration play in contract formation?
✔✔ Consideration is the value exchanged between parties in a contract, making the agreement
legally binding.
What is misrepresentation in contract law?
✔✔ Misrepresentation involves providing false information that induces another party to enter
into a contract, which can affect its validity.
What is the difference between void and voidable contracts?
✔✔ A void contract is unenforceable from the start, while a voidable contract is valid but may be
rejected by one of the parties under certain conditions.
What is assignment in contract law?
✔✔ Assignment involves transferring rights or obligations under a contract from one party to
another.
What does delegation of duties mean in a contract?
✔✔ Delegation of duties involves transferring responsibilities under a contract from one party to
another, while the original party remains liable for performance.
2
, What is breach of warranty?
✔✔ Breach of warranty occurs when a product or service fails to meet the assurances or
guarantees made about its quality or performance.
What is the significance of discharge by performance?
✔✔ Discharge by performance occurs when all parties fulfill their contractual obligations,
leading to the termination of the contract.
How does anticipatory repudiation affect a contract?
✔✔ Anticipatory repudiation happens when one party indicates they will not fulfill their
contractual obligations before the performance is due, allowing the other party to seek remedies.
What is unilateral contract?
✔✔ A unilateral contract involves one party making a promise in exchange for an act or
performance by another party.
What is contract modification and when is it permissible?
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