Promisee - Study guides, Class notes & Summaries

Consideration - ANS something of value exchanged for something else of value (a promise to do something/refrain from doing something to benefit another party) - inducement to enter into a contract - legal sufficiency bargained for in exchange -- benefits to promisor of detriment - does not need economic value - return must be BARGAINED FOR (agree) Bilateral Contract - ANS A promise made in exchange for another promise Unilateral Contract - ANS promise in excha...

Estate administration - ANS The process in which a decedent's personal representative settles the affairs of the decedent's estate (collects assets, pays debts and taxes, and distributes the remaining assets to heirs); the process is usually overseen by a probate court. inter vivos trust - ANS A trust created by the grantor (settlor) and effective during the grantor's lifetime—that is, a trust not established by a will. Assault - ANS Any word or action intended to make anothe...

Contract - correct answers An agreement between 2 competent parties enforceable by law. Elements of A contract - correct answers 1. an agreement 2. between competent parties 3. based on terms agreed upon by both 4. supported by consideration 5. must be lawful 6. in the form required by law if necessary Promisor - correct answers Person who makes a Promise Promisee - correct answers Person to whom a promise is made Obligor - correct answers Promisor Obligee - correct answers P...

LEGL 2700 Roessing Exam 2 Questions and Answers 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 ...

BUL3310 EXAM 3 QUESTIONS WITH ANSWERS REV ISED AND UPDATED! exemplary - Answer-What is another term for punitive damages? bilateral - Answer-Bob promised to pave Sue's driveway and Sue promised to pay him $5000 when the work was completed. The contract between Bob and Sue is a __________________contract. mitigate - Answer-Plaintiff's duty to take steps to lessen the damages that result from a defendant's breach of contract is the duty to ______________. true - Answer-Another term fo...

RPTM 390 exam 3 Question and answers rated A+ RPTM 390 exam 3 Which of the following is not a source of contract law? - correct answer statutory law This type of contract refers to an exchange of promises between parties. - correct answer bilateral contract Which of the following contracts are NOT required to be in writing in order to become legal. - correct answer sale of goods under $100 Technically, oral contracts are legal contracts - correct answer true Acceptance mu...

HEALTH LAW COURT CASES EXAM LATEST 2024/2025 WITH COMPLETE 110 ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS |GRADED A+ Hawkins V McGee - ANSWER- Hawkins had sustained hand injury. The defendant mcGee guaranteed Hawkins that he would make his hand "100% perfect." The plantiff, Hawkins, was left with a hand that was worse than before. The courts agreed that Hawkins had breached a contract by not delivering on his promise to McGee. The question facing the court was what damages should the ...

BILATERAL CONTRACT - correct answers agreement under which one promise is given in exchange for another CONTRACT - correct answers a binding agreement based on the genuine assert of the parties made for a lawful object, between competent parties in the form required by law, and generally supported by consideration CONTRACT UNDER SEAL - correct answers contract executed by affixing a seal or making an impression on the paper or on some adhering substance such as wax attached to the document...

Contract - ANSWERSa promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements - ANSWERS-Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for consideration: exchange of value, including their de...

Don enters into a contract with Eve, who claims to have access to a stock-trading algorithm that will multiply an investment many times over. When the results do not match this promise, Don learns that Eve does not have access to any unique software and files a suit, alleging fraud. Proof of an injury is required to - A; recover damages. A major-league baseball team based on the North side of Chicago is in the playoffs and doing well. Behind the left-field wall there is an apartment buildin...