Term
| A enters into a k with B for the sale of cocaine. How are illegal contracts categorized? |
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Definition
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Term
| Abigail completed her law class, handed in all of her study guides and submitted her homework. As far as her side of the contract is concerned, Abigail is...? |
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Definition
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Term
| As a general rule, how would you classify a statement appearing in a newspaper, on the internet or on the radio that states, "Shirts for sale for $5.00." |
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Definition
| A preliminary negotiation. |
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Term
| Detrimental reliance is a theory of consideration recognized in how many states? |
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Definition
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Term
| Doris is a busy dentist who performs extensive surgery on her client, Mary to the tune of $4500.00 Mary does not pay her bill for three years. During the fourth year, Mary sends Doris a card with a check for $50.00. What effect does Mary's gesture have on the debt? |
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Definition
| Mary has 'brought the debt back to life.' |
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Term
| Doris is a busy dentist who performs extensive surgery on her client, Mary to the tune of $4500.00 Mary does not pay her bill for three years. During the fourth year, Mary sends Doris a card with a check for $50.00. What is the rule that applies to this situation? |
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Definition
| A promise to pay a debt barred by the statute of limitations is enforceable without consideration. |
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Term
| Dr. Joe is the best dentist in Tinytown. He also runs a very profitable investment firm on the side. One day, while working on a patient, he tells her about a new get rich scheme in which she could invest. The patient trusts Joe with her teeth, so she decides to also invest in his scheme. After losing all of her money, the patient could successfully sue Dr. Joe under what theory? |
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Definition
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Term
| Dustin placed an ad on Craig's List in which he offered to sell his apartment house to the first person to offer him $450,000. Sally Fields wrote back, "I accept." On the day of the closing, Dustin met Sally at his attorney's office and realized she was only 14 years old. True or False. Dustin can get out of the contract. |
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Definition
| False. Only the minor can disaffirm. |
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Term
| Dustin promised in writing to sell 100 corn futures to Sally Fields. Sally accepted in writing after an hour. By then, Dustin had sold the corn to Bert Reynolds. In a lawsuit by Sally against Dustin, she would lose because... |
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Definition
| The contract lapsed because this is a rapidly changing market. |
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Term
| Dustin promised in writing to sell his Mazda Miata to Sally Fields for $4500. Before Sally could accept, Dustin said, "Never mind." What is this an example of? |
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Definition
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Term
| Dustin promised in writing to sell his Mazda Miata to Sally Fields for $4500. Before Sally could accept, Dustin said, "Never mind." Who now has the power of acceptance? |
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Definition
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Term
| Dustin promised in writing to sell his Mazda Miata to Sally Fields for $4500. Sally wrote back, "I accept, but for $4000." What is this an example of? |
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Definition
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Term
| Dustin promised in writing to sell his Mazda Miata to Sally Fields for $4500. Sally wrote back, "I accept, but for $4000." Who now has the power of acceptance? |
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Definition
| The original offeree becomes the offeror, so Sally. |
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Term
| Dustin promised in writing to sell his Mazda Miata to Sally Fields. Before Sally could accept, Dustin went insane. This is called... |
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Definition
| Termination by operation of law. |
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Term
| Dustin promised in writing to sell his Mazda Miata to Sally Fields. Sally paid Dustin $100 to hold open the offer and Dustin accepted. Subsequently, Dustin sold the car to Bert Reynolds. In a lawsuit by Sally against Dustin why would she win? |
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Definition
| Because this is a valid option contract. |
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Term
| For detrimental reliance to apply, what does the reliance have to be? |
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Definition
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Term
| Gwen was tired of making up flashcards for her students and wanted to play instead. In order to encourage her to finish, the dean promised Gwen an extra $100 to finish the flashcards. Why is this problem unenforceable? |
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Definition
| The promise to pay the money did not induce a legal detriment because Gwen was already previously, legally bound to teach her students. |
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Term
| How is a detriment defined? |
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Definition
| Doing something that one was not previously, legally bound to do. |
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Term
| How is forbearance defined? |
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Definition
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Term
| If A mistakenly tells B that she is thinking about selling her goats, when in fact A meant to offer the goats to C, why is this not an offer? |
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Definition
| The offer was not communicated to the offeree. |
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Term
| If A tells B that she is thinking about selling her goats, why is this not an offer? |
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Definition
| The language is not definite and certain. |
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Term
| If Alicia wakes up in the hospital after suffering a head trauma, what is the hospital's best argument for receiving payment? |
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Definition
| An implied in law contract; or a quasi-contract. |
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Term
| If Angelina hires Brad to deliver to her a kilo of heroin, what is the name given to this contract? |
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Definition
| Illegal. A contract to commit a crime. |
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Term
| If Bert agrees in writing to sell his car to Matilda and before she accepts Bert says he doesn't want to be in the contract, what is this called? |
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Definition
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Term
| If Bert agrees in writing to sell his car to Matilda for $45,000 and he sends the offer to her and hears nothing back from Matilda, what is the name given to his offer? |
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Definition
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Term
| If Bert agrees in writing to sell his car to Matilda for $45,000 and she writes back "I accept the car for $43,000." what effect does this response have on Bert's offer? |
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Definition
| It kills the original offer. |
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Term
| If Bert agrees in writing to sell his car to Matilda for $45,000 and she writes back "I accept the car for $43,000." what effect does this response have on who the parties are? |
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Definition
| Matilda is now the offeror and Bert is the offeree. |
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Term
| If Bert agrees in writing to sell his car to Matilda for $45,000 and she writes back "I accept the car for $43,000." what is the name given to her response? |
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Definition
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Term
| If Betty agrees to purchase on behalf of Ford Motor Company "all of the automobile tires that we might require for the year 2014, what is the name of this type of contract? |
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Definition
| An output requirement contract. |
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Term
| If Bob pays Gretta $394 to hold open an offer, this formed what type of contract? |
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Definition
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Term
| If Bob promises to buy Robert a car, why is there no contract? |
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Definition
| This is a gift because the promise did not induce a detriment. |
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Term
| If Laurie promises Andrew that she will buy him a car for Christmas, and Andrew sells his present car anticipating the new car, and this is determined to be consideration, in how many states would this be recognized as enforceable? |
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Definition
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Term
| If Laurie promises Andrew that she will buy him a car for Christmas, and Andrew sells his present car anticipating the new car, what is this called in legal terms? |
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Definition
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Term
| If Laurie promises Andrew that she will buy him a car for Christmas, and Andrew sells his present car anticipating the new car, what must Andrew's reliance be? |
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Definition
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Term
| If Maria agrees to paint Elbridge's house for $5500 and Elbridge considers the paint job sub-standard, and definitely not worth $5500, what kind of debt is this? |
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Definition
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Term
| If Maria agrees to paint Elbridge's house for $5500 and Elbridge considers the paint job sub-standard, and gives Maria a check for $3500 which she then cashes, why can't she sue for the additional $2000? |
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Definition
| When she cashed the check, she accepted the lesser amount as full payment. |
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Term
| If Maria agrees to paint Elbridge's house for $5500 what kind of debt is this? |
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Definition
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Term
| If Maria borrows $500 from Elbridge, what name is given to Elbridge? |
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Definition
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Term
| If Maria borrows $500 from Elbridge, what name is given to Maria? |
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Definition
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Term
| If Maria borrows $500 from Elbridge, what name is given to this debt? |
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Definition
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Term
| If Martha has not been adjudicated insane but is in court trying to get out of the contract, who has the burden of proof? |
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Definition
| She does. And if she succeeds the contract is voidable. |
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Term
| If Martha is adjudicated non compos mentis by a court what does this make her contracts? |
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Definition
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Term
| If Martha lacks competency but has never been adjudicated insane, what does this make her contracts? |
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Definition
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Term
| If Talia pushes Justin away from a speeding train, and as a result Justin promises Talia a $10,000 reward, why is this not enforceable? |
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Definition
| The promise did not induce the detriment; this is past consideration. |
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Term
| If Talia pushes Justin away from a speeding train, and as a result Justin promises Talia a $10,000 reward, why is this not enforceable? |
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Definition
| The promise did not induce the detriment; this is past consideration. |
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Term
| If Wilbur agrees to purchase 1000 or more baskets for his fruit grove, why has he not entered into a contract? |
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Definition
| There is no definite quantity. |
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Term
| If the United States government offers a $1000 reward for information leading to the arrest of John Wilkes Boothe, what type of contract does this form? |
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Definition
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Term
| If the United States government places information in a newspaper that offers a $1000 reward for information leading to the arrest of John Wilkes Boothe, why is that an offer? |
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Definition
| It limits the class of offerees. |
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Term
| If the elements of an offer are missing, this is the name of what has occurred. |
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Definition
| A preliminary negotiation. |
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Term
| In Fiege v. Boehm, what was the benefit to the woman involved? |
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Definition
| She received child support. |
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Term
| In Fiege v. Boehm, what was the detriment to the man involved? |
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Definition
| He gave up the right to sue for paternity. |
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Term
| In a contract for the sale of goods, what is the UCC section that applies to acceptance? |
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Definition
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Term
| In a contract for the sale of goods, what is the UCC section that applies to option contracts? |
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Definition
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Term
In a k formed between ABC Industries and Ajax, the parties place the following:
In the event the product injures any employees of Ajax, ABC agrees to hold harmless Ajax for any product defects. This is an example of |
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Definition
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Term
| In contract formation, the name given to how the parties appear to a reasonable third party is called... |
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Definition
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Term
| In order for detrimental reliance to be consideration, what must the reliance be? |
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Definition
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Term
| In order to have bargained for exchange consideration, what must the promise induce? |
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Definition
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Term
| Nate is watching tv and sees a telethon to help victims of Hurricane Sandy. Nate calls the telethon and offers to contribute $4000.00 but later revokes his offer claiming there is no consideration. Is there? |
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Definition
| Yes. The promise to contribute to a charity is enforceable without consideration. |
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Term
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Definition
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Term
| To determine compensatory damages, the parties must establish two prices. The first is__________ and the second is_________ |
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Definition
The original k price
The second is the cost of substitute goods |
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Term
| To distinguish an offer from a preliminary negotiation, we say the language must be this.... |
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Definition
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Term
| Trina, a merchant, agreed in writing to sell a Cadillac Escalade to Ayana, also a merchant. Ayana asked Trina for 30 days so she could secure financing. In writing, Trina said, "Sure, I will hold open the offer." Trina signed the agreement to hold open the offer. What UCC section applies to this scenario? |
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Definition
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Term
| Trina, a merchant, agreed in writing to sell a Cadillac Escalade to Ayana, also a merchant. Ayana asked Trina for 30 days so she could secure financing. In writing, Trina said, "Sure, I will hold open the offer." Trina signed the agreement to hold open the offer. What result? |
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Definition
| This is enforceable under 2-205 |
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Term
| Trina, a merchant, agreed in writing to sell an apartment building to Ayana, also a merchant. Ayana asked Trina for 30 days so she could secure financing. In writing, Trina said, "Sure, I will hold open the offer." Trina signed the agreement to hold open the offer. Why is this unenforceable? |
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Definition
| Because an option contract under the common law must involve the payment of money to be enforceable. |
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Term
| Under the UCC if both parties are not merchants, what happens to any new terms in the acceptance? |
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Definition
| They become proposals to the contract. |
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Term
| Under the UCC if both parties to a contract are merchants, what happens to any new terms in the acceptance? |
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Definition
| They automatically become part of the contract. |
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Term
| What contracts are under the UCC? |
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Definition
| Contracts for the sale of goods. |
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Term
| What contracts are under the common law? |
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Definition
| Contracts for the sale of real estate, land and contracts for services (employment). |
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Term
| What does an implied in law contract prevent? |
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Definition
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Term
| What does an offer create in the offeree? |
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Definition
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Term
| What does language of an offer have to be to form a contract? |
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Definition
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Term
| What is a contract that is a promise for a promise? |
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Definition
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Term
| What is a contract that is a promise for an act? |
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Definition
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Term
| What is an example of a formal contract? |
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Definition
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Term
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Definition
| Placing the non-breaching party in as good a position as he/she would have been had there not been a breach. |
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Term
| What is the burden of proof in a contracts dispute? |
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Definition
| A preponderance of the evidence. |
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Term
| What is the definition of the burden of proof in a contracts dispute? |
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Definition
| The plaintiff must convince a majority of the jury; and that majority must each be convinced by 51% or more. |
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Term
| What is the difference between a contract and a gift? |
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Definition
| A gift lacks consideration. |
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Term
| What is the effect of a counter offer on the original offer? |
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Definition
| It kills the original offer. |
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Term
| What is the effect of a counter offer on the status of the parties? |
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Definition
| The parties switch positions: the offeror becomes the offeree and vice versa. |
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Term
| What is the effect of vague terms on a contract under the UCC? |
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Definition
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Term
| What is the major difference between detrimental reliance and bargained for exchange consideration? |
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Definition
| In detrimental reliance, the detriment does not induce the promise. |
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Term
| What is the most common type of consideration? |
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Definition
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Term
| What is the name give to the rule governing which contracts must be in writing? |
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Definition
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Term
| What is the name given to a contract missing one or more of the elements of a contract? |
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Definition
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Term
| What is the name given to a contract that is a promise for a promise? |
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Definition
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Term
| What is the name given to a contract that is a promise for an act? |
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Definition
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Term
| What is the name given to a contract that states, "I agree to sell you all of the poker chips that our factory can produce"? |
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Definition
| An output requirement contract |
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Term
| What is the name given to the time period in which to sue a defendant? |
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Definition
| The statute of limitations. |
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Term
| What is the name of a contract entered into by a minor? |
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Definition
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Term
| What is the name of a contract in which all of the parties have performed? |
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Definition
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Term
| What is the name of a contract that has all five elements of a contract? |
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Definition
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Term
| What is the name of a contract that has all five elements through pantomime or gestures? |
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Definition
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Term
| What is the name of a contract that has all five elements? |
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Definition
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Term
| What is the name of a contract that is an exception to the rule of quantity under the UCC? |
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Definition
| An output requirement contract. |
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Term
| What is the name of a contract that is formed orally or in writing? |
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Definition
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Term
| What is the name of a contract that is missing one or more of the elements of a k, but to prevent unjust enrichment the k will find this k exists. |
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Definition
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Term
| What is the name of a contract that is not yet fully performed? |
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Definition
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Term
| What is the name of a contract that must be in a particular form to be enforceable? |
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Definition
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Term
| What is the name of a contract that must be in writing to be enforceable? |
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Definition
| A contract within the statute of frauds. |
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Term
| What is the name of a contract whose purpose is to prevent unjust enrichment? |
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Definition
| Quasi contract or implied-in-law contract. |
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Term
| What is the name of acceptance under the UCC? |
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Definition
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Term
| What is the name of acceptance under the common law? |
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Definition
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Term
| What is the name of contracts that have both goods and services? |
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Definition
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Term
| What is the name of the detriment in Hamer v. Sidway? |
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Definition
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Term
| What is the name of the test best illustrated by the case Lucy v. Zehmer? |
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Definition
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Term
| What is the name of the test used by the courts to determine what body of contract law a contract is under? |
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Definition
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Term
| What one term must be in all contracts under the UCC? (Assuming the contract does not have to be in writing) |
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Definition
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Term
| What promise must be in writing under a 2-205 contract? |
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Definition
| The promise to hold open the contract. |
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Term
| What type of debt is in dispute? |
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Definition
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Term
| When can a bilateral contract be revoked? |
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Definition
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Term
| When can a unilateral k be revoked? |
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Definition
| Prior to the start of the act. |
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Term
| Why does a large communicating medium NOT create a contract? |
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Definition
| There are too many potential offerees to have a power of acceptance in any one person. |
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