100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
LEB 320F Unit 5 Exam Questions and Answers 100% Solved | Rated A+ $9.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. LEB
  4.  
  5. LEB

Exam (elaborations)

LEB 320F Unit 5 Exam Questions and Answers 100% Solved | Rated A+
 0 purchase
  • Course
  • LEB
  • Institution
  • LEB

LEB 320F Unit 5 Exam Questions and Answers 100% Solved | Rated A+ Contract - legally enforceable agreement Consequences of breaking a contract - Courts will order you to pay money damages or grant a decree of specific performance Specific performance - court ordering you to actually perform th...

[Show more]

Preview 3 out of 16  pages

Document information

  • September 26, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • LEB
  • LEB

Seller

avatar-seller
JOSHCLAY

Reviews received

Content preview

LEB 320F Unit 5 Exam Questions and

Answers 100% Solved | Rated A+


Contract - ✔✔legally enforceable agreement

Consequences of breaking a contract - ✔✔Courts will order you to pay

money damages or grant a decree of specific performance

Specific performance - ✔✔court ordering you to actually perform the

actions states in your contract

Bilateral contract - ✔✔a promise for a promise, both parties saying you will

do something at a later time

- supplier and buyer agree on product amount and purchase price

Offer - ✔✔a contract proposal made by an offeror to an offeree

- ex, So, if the New York Yankees (offerors) send a contract to a third

baseman (offeree) in November offering him $8,000,000 for the coming

season, it is a bilateral offer - the team is seeking a promise to play in

exchange for its promise to pay the money.

Unilateral contract - ✔✔contract that can only be accepted in the case that

a specific act has already been performed

,- ex. if tv station offers to pay 5000 to the first person to bring a meteor, this

offer can only be accepted by the physcial production of the portion of the

meteor,

- just promising to look for it does not form a contract and does not obligate

the station to pay the money

jed promises to move his neighbor's furniture to a new apartment next

Saturday, and the neighbor agrees to pay $300 for Jed's work. What kind

of contract does Jed have with the neighbor? A. unilateral B. bilateral -

✔✔B. The two parties have exchanged promises, and so like most

contracts, this one is bilateral. The parties intend to be bound at the time

they exchange the promises.

Valid contract - ✔✔all required elements are met and is fully enforceable

and as a result is enforceable against both parties

Voidable contract - ✔✔One of the parties has the legal right to withdraw

from the contract with no negative consequences

Void - ✔✔Court deciding that a contract is not legitimately enforceable, or

never existed at all

- ex. if someone tricks a person to sell their rolex for 10 bucks

- agreements surrounding illegal thins like drugs are also void

, - void contract is never enforced

Unenforceable contract - ✔✔was valid at the time but not anymore, such as

statute of limitations has run out

Express contract - ✔✔A contract that has all terms explicitly stated

- write and sign

Implied contract - ✔✔When a court decides that enough implicit behavior

was showed by both parties to consider it a contract

- if joe walks into sams store when sam is busy and joe picks up a candy

bar and places money on the counter and leaves and sam just nods -

implied contract exists even though they never spoke a word

Executory contract - ✔✔a contract that is valid but the parties haven't

fulfilled their obligations yet

- contract to sell my car to you for 5000

Executed contract - ✔✔Both parties have completed their ends of the

contract

- you bring me the 5000, i give you the keys and title

Negotiated contract - ✔✔contract from the result of bargaining between two

parties

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller JOSHCLAY. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

66184 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$9.99
  • (0)
Add to cart
Added