Term
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Definition
| A minor may dissafirm a contract and is obligated to return only the consideration still under her control, unless she has affirmatively misrepresented her age. |
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Term
| Kiefer v Howe Motors, Inc |
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Definition
| A minor may dissafirm a contract even if the minor is emancipated. (Note dissent that has become modern rule.) |
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Term
| Bobby Floars Toyoya v Smith |
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Definition
| A minor may dissafirm a contract unless he has reached the age of majority and ratified the contract. |
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Term
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Definition
| A minor may dissafirm a contract unless it is for the purchase of necessities (something the minor needs and cannot get anywhere else). |
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Term
| Milligan v Big Valley Corp |
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Definition
| An exculpatory agreement is enforceable if it meets four considerations (in Wyoming): labeled recreational and of no public importance, no bargaining power, fairly executed, intention of D expressed in clear and unambiguous language. |
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Term
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Definition
| Offeror may only revoke an offer before offeree has accepted. Rent dance hall. |
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Term
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Definition
| Uncle promises nephew. If someone gives up their legal right or promises to do something they are not legally obligated to do than satisfies consideration. |
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Term
| Gottlieb v Tropican Hotel and Casino |
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Definition
| Participating in a promotion that benefited the company is adequate consideration to form a contract. |
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Term
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Definition
| Advertisement does not constitute an offer. If an objective person would know it was a joke that it does not constitute an offer. |
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Term
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Definition
| If an offer was never made, there is no implied contract to breach. Guy shares show idea. |
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Term
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Definition
| Bar, drinking, sell land for $50,000 |
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Term
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Definition
| Rent to own TV. An agreement for the sale of consumer goods entered into w/consumer w/unequal bargaining power and calls for unconscionable price constitutes unfair trade practice. |
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Term
| Vokes v Arthur Murry, Inc |
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Definition
| A statement made by a party with superior knowledge may be regarded as a statement of fact, although it would be considered opinion if the parties were dealing on equal terms. Misrepresentation. Dance Lessons. |
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Term
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Definition
| P left husband to live with and be D's manager. Breach of oral contract. |
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Term
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Definition
| Application of remedy of recession is entirely appropriate to reduce the unwitting purchaser from the consequences of a most unnatural bargain. |
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Term
| Trustees of Columbia University v Jacobson |
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Definition
| Kid won't pay because he didn't graduate. |
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Term
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Definition
| Nonmarital partners are not entitled to division of community property, but the courts will instead enforce express agreements between the parties to the extent that these agreements do not rest on an unlawful meretricious consideration. |
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Term
| Beachcomber Coins v Boskett |
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Definition
| Plaintiff made the mistake. In favor of defendant. Whoever made the mistake, problem falls back on, in favor of the other party. Coins. |
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Term
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Definition
| Engagement ring is a conditional gift and if contract is called off, should be returned. No fault. |
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Term
| Wilkin v First Source Bank |
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Definition
| When both parties share a common assumption about a vital fact upon which they based their bargain and that assumption is false, the transaction may be avoided if b/c mistake a quite different exchange of values occurs from the exchange of values contemplated by parties. Paintings at estate. |
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Term
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Definition
| The verbal contract was too vague and could not be breached because it was not a contract. No valid acceptance no definate terms |
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Term
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Definition
| Plaintiff called concerning a rerun of the show, did not meet requirements of contract. |
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Term
| Jackson v Conneticut Lottery Corp |
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Definition
| 1 year provision is enforceable on lottery tickets |
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Term
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Definition
| Any benefit to one and detriment to another may be sufficient consideration. Dad says he will pay for school. |
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Term
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Definition
| Defendant chose to accept licensed agreement and did not comply. |
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Term
| Bush v ProTravel International |
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Definition
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Term
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Definition
| Newspaper has illegal lottery. |
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