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LEGL 2700 - Test 1 – Epstein – 69 Q’s and A’s
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LEGL 2700 - Test 1 – Epstein – 69 Q’s and A’s
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LEGL 2700 - Test 1 – Epstein – 69 Q’s and A’sPlaintiff - -one who is aggrieved and initiated the dispute
-Defendant - -one who is accused
-Counterclaim - -when the defendant sues the plaintiff in return
-Supreme Court, Circuit Court of Appeals, District Courts - -Hierarchy of
courts
-Merits or Procedurally - -The two ways to fight lawsuits
-General Jurisdiction - -A state court has jurisdiction over all its residents for
any matter at all.
-Specific Jurisdiction - -When a court has jurisdiction over a company or
individual with respect to a specific incident or matter.
-contract - -a legally enforceable promise
-reasonable person standard - -how intent is determined
-Agreement, Consideration, Contractual Capacity, and Legality - -elements
of a contract
-ordinary and plain - -Words are given their______ meaning.
-whole - -A contract will be interpreted as a ____.
-both - -Consideration must be given by _____ part(ies).
-Consideration - -something of value which is typically bargained for; must
be given/known by both parties
-bargained - -giving money to induce the deal
-offer - -a promise or commitment to do or refrain from doing some
specified action in the future
-examples of nonoffers - -opinions (I can likely have your car fixed for $250)
future intent (I will offer to sell my house in 3 months)
preliminary negotiations (close, but not deal yet)
advertisements (because stock can run low)
, -bilateral contract - -a person can accept by simply making a promise.
These contracts offers are freely revocable until the contract is made.
-unilateral contract - -a person may only accept a contract by performance.
For instance, a lost dog poster offering a reward. An offeror cannot revoke
these contract offers when performance has been substantially undertaken.
-Mirror Image Rule - -Under termination of the offer; An acceptance must be
exactly the same, varying no terms of the original offer to accept it.
-performance - -______ of an offer is always an acceptance.
-Statute of Frauds - -Every state has a statute governing when a contract
must be in writing, called this
-signature - -nearly any mark or designation by a party intending for that
mark to have legal effect
-Exception to the Writing Requirement - -partial performance
admission (if party admits that there was a contract, its enforceable)
-contractual capacity - -the legal ability to enter into a contractual
relationship
-void contract - -A contract having no legal force or binding effect;
agreement you made is not legally enforceable at all
-Voidable Contract - -A contract that may be legally avoided at the option of
one or both of the parties; generally only one party
-Disaffirmance - -The legal avoidance, or setting aside, of a contractual
obligation.
-dissenting opinion - -A statement written by a justice who disagrees with
the majority opinion, presenting his or her opinion
-Licensing Statutes - -require formal authorization to engage in certain
trades, professions, or businesses
-promises of value - -non-binding predictions that cannot be signed into a
contract; "these baseball cards will be worth $1,000 one day"
-Unilateral Mistake - -A mistake that occurs when one party to a contract is
mistaken as to a material fact. - enforcable
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