Legl 27 - Study guides, Class notes & Summaries

What kind of contracts do not have a lawful purpose? - ️️Contracts that require commission of a crime or tort or violate accepted standards of behavior (they are void) and Courts typically do not take action on such contracts (ch 8) implied-in fact contracts - ️️contracts which arise from the conduct of the parties rather than words (i.e. asking an accountant for professional advice implies a promise to pay money for it though u don't make an express promise to pay for it) (ch 8...

LEGL 2700 Unit 4 Notes, includes a final exam study guide summary at the end of topics she listed on our final review day of what to review for the exam. Also included dates on the notes. Disclaimer: Does not contain test material/questions, just the review information that she verbalized to us in class about the final.

Test 3 LEGL 2700 Questions With Complete Solutions

Promise - Answer-A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer-The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer-Tangible (touchable), movable personal property Bilateral Contract - Answer-Promise in exchange for a promise Involves promisor and promisee Usually made to a specific person Acceptance, then perfor...

Law - Answer-made up of rules laid down by state and backed by enforcement -written social force -mean nothing w/o enforcement Rule of Law - Answer--laws are made generally and apply to everyone equally -necessary for strong and diverse economies -transparency in business Property - Answer-ownership-allows you to exclude others without your permission Common Property - Answer-resources like land that multiple people own Contract Law - Answer-enables an owner to exchange resources...

LEGL 2700 FINAL EXAM VERIFIED 100% CORRECT!!

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 action ...

LEGL 2700 Exam 2 Study Guide Solutions Contracts - ANSWER-Promises that are enforceable with predictable consequences for performance failures, does not have to be written (ch 8) Contract Law comes from either - ANSWER-Legislation- UCC Article 2 covers sale of goods Common Law- judge made law for contracts for things other than goods (ch 8) bilateral contract - ANSWER-promise for promise exchange (ch 8) unilateral contract - ANSWER-promise is made in exchange for performance so only one...

LEGL 2700 Roessing Final Exam: Questions/Answers

LEGL 2700: Final Exam With 100% Correct Answers 2024