Promisor - Study guides, Class notes & Summaries

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 ...

Basic Contract Law for Paralegals Chapters 1-8 Exam Questions and Answers 2024 Legality -Answer-The condition of conformity with the law; lawfulness. Usury -Answer-Charging a rate of interest that exceeds the rate permitted by law. Surrogacy Contract -Answer-A situation where a woman who "hosts" the fertilized egg of another woman in her womb or who is artificially inseminated with the sperm of a man who is in a relationship with someone else agrees to assign her parental rights to the do...

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

MULTISTATE BAR CONTRACTS AND SALES – EXAM 2024 How do you form a contract? - correct answer To form an enforceable contract, there must be mutual assent (offer and acceptance), consideration, and the absence of any formation or enforcement defenses. What is consideration? - correct answer 1) A bargained-for exchange that 2) has legal value. Legal value is either a benefit to the promisor or detriment to the promisee. The promise must induce the benefit/detriment and the benefit/detrim...

GDL Contract Law Revision Notes(Distinction Level) 2023 GRADED A Contract Law Notes Agreement and Contractual Intention Agreement: In order for parties to reach an agreement, one party must make an offer which is acceptedby the other. ‘Offer’: Professor Treitel: ‘an expression of willingness to contract on certain terms, madewith the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed.’ ‘Offeror’: Person who makes the offer....

LEGL 2700 Roessing {Exam 1-3}2025 with 100% correct answers Promise - CORRECT ANSWER A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - CORRECT 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 - CORRECT ANSWER Tangible (touchable), movable personal property Bilateral Contract - CORRECT ANSWER Promise in exchange for a ...

Mortuary Jurisprudence Final Exam Test Questions With Revised Correct Answers Forebearance - ANSWER : Refraining from doing something you have a lawful right to do 6 elements of an enforceable contract - ANSWER : 1. Agreement 2. Assent 3. Consideration 4. Lawful Purpose 5. Competent Parties 6. Form required by law Requirements of an offer - ANSWER : 1. Contractual intention 2. Definite 3. Communicated to offeree Termination of offer - ANSWER : 1. Counter offer* 2. Rejection by...

MIE 305 Final Exam Latest Update with Verified Solutions Contract a 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 -Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for con...

CON 1100V Exam (2024/ 2025 Update) Questions and Verified Answers-100% Correct-Grade A Q: It may be said that a Contracting Specialist DOES NOT become a Contracting Officer until Answer: he/she is awarded a warrant. Q: FAR 1.102-4(e) states that: Answer: contracting officers "should take the lead in encouraging business process innovations and ensuring that business decisions are sound." Q: The contracting professional should strive to __________ the influence of p...

AIC 301 Glossary & Concepts Exam With 100% Correct And Verified Answers Contract a legally enforceable agreement between two or more parties Promisor The party/person making the promise Promisee The party/person to whom a promise is made. Privity of Contract The relationship that exists between the parties of a contract (promisor and the promisee) Third Party Beneficiary A person/party that will benefit from the contract but is not a party to the contract. Offeror ...