Legl 2700 test 3 - Study guides, Class notes & Summaries

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 exchan...

LEGL 2700 Test 3 Epstein UGA Exam Actual Real Set Questions With Revised Correct Answers | Passed!! Role of Scarcity (property) - ANSWER : need for resources overtakes supply of those resources State controlled/communism - ANSWER : govt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - ANSWER : enact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally h...

LEGL 2700 TEST 3 Exam Actual Real Set Questions With Revised Correct Answers | Passed!! What is the Role of Scarcity in our economy? - Answer --the demand/need for resources is higher than their supply What is the role of property within a state controlled/communist government? - Answer - -almost all resources are controlled and allocated by the government -each citizen is required to produce according to their ability level and share according to the needs of others -shown to be less...

accession - Answer ️️ Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams. (something added) Adverse Possession - Answer ️️ A person takes possession & use of a property belonging to another. Possession must be open, notorious, hostile & uninterrupted for a certain period of time. Artisan's Lien - Answer ️️ A possessory lien given to a person who has made improve...

contract - correct answer -a legally enforceable promise or an exchange of promises Uniform Commercial Code (UCC) - correct 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 - correct answer --involve a promise for promise exchange ( mutual promises) -acceptance is before acti...

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LEGL 2700 Test 3 Epstein UGA 2024 Exam Actual Real Set Questions With Revised Correct Answers | Passed!! state controlled/communism - Answer -the government controls all the resources property-based/capitalism - Answer -laws enable citizens to acquire, possess, and use resources private property - Answer -establishes necessary condition for capital formation real property - Answer -land, interests in land, buildings (surface, air, subsurface, fixtures) personal property - Answer -...

UGA legl 2700 Test 3 Court Cases (Roessing) Questions and Answers Montz v Pilgrim Films & Television, INC. - Correct ️️ Plaintiff pitched idea to NBC and was rejected -> NBC created Ghost Hunters -> sued for breach of implied-in-fact contract to pay for the use of the reality show concept "as a result of cases like Montz, some firms are wary of accepting unsolicited product ideas unless a clearly defined contractual relationship exists" Gottlieb & Co INC. v. Alps South Corpora...

Test 3 LEGL 2700 Questions With Complete Solutions

LEGL 2700 Roessing Test 3 – Questions & Correct Answers