Term
| 4 requirements of a contract: |
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Definition
- Mutual assent
- consideration
- legality of object
- capacity
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Term
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Definition
- Express
- Implied
- Quasi
- Promissory Estoppel
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Term
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Definition
| All details are written and spelled out; therefore it is very hard to litigate. |
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Term
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Definition
-equally enforceable as express k's
-actions qualify as a k, rather than words and writing.
-uses objective standard: what is reasonable under the circumstances. |
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Term
| 4 classifications of contracts; are not mutually exclusive: |
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Definition
1. Express or Implied
2. Bilateral or unilateral
3. void, voidable, or unenforceable
4. executed or executory k's
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Term
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Definition
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Term
| Unjust enrichment = ________ contract; rules: |
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Definition
| Quasi Contract; legal test: could you have prevented it? If yes, you must pay the fair market value of whatever was performed, if no, sweet deal for you (mistake). |
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Term
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Definition
| a offers b something. b does something in reliance on a's promise. a wants to revoke promise. if a's revocation makes b suffer loss, a is estopped from revocation, so the promise is enforceable. |
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