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LEGL 2700 Roessing Exam 2 Questions And Answers $15.99
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LEGL 2700 Roessing Exam 2 Questions And Answers
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LEGL 2700 Roessing Exam 2 Questions And Answers Express Contracts A contract in which parties show their agreement in words Implied-in-fact Contracts A legally enforceable agreement inferred from the circumstances and conduct of the parties Implied-in-law Contract A quasi-contract; not a tru...

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  • October 19, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • legl 2700 roessing exam 2 questions and answers

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LEGL 2700 Roessing Exam 2 Questions And
Answers

Express Contracts A contract in which parties show their agreement in words




Implied-in-fact Contracts A legally enforceable agreement inferred from the

circumstances and conduct of the parties




Implied-in-law Contract A quasi-contract; not a true contract


Legal fiction that the courts use to prevent unjust enrichment and wrongdoing

Courts permit the person who conferred a benefit to recover the reasonable value of that benefit

Nonetheless, the elements of a true contract are not present




Quasi-contract An implied-in-law contract; not a true contract


Legal fiction that the courts use to prevent unjust enrichment and wrongdoing

Courts permit the person who conferred a benefit to recover the reasonable value of that benefit

Nonetheless, the elements of a true contract are not present




Enforceable Contract A contract that can be enforced in court

, LEGL 2700 Roessing Exam 2 Questions And
Answers

Unenforceable Contract A contract that cannot be enforced in court




Valid Contract A contract that contains all of the proper elements of a contract




Void Contract A contract that is empty, having no legal force; ineffectual, unenforceable


Ex) drug sale, killer-for-hire




In Pari Delicto The parties to an illegal contract are equally at fault




Voidable Contract Capable of being declared a nullity, though otherwise valid


Party taken advantage of can avoid contract; other party cannot




Executed Contract A contract that is fully accomplished or performed, leaving nothing

unfulfilled




Executory Contract An agreement that is not completed

, LEGL 2700 Roessing Exam 2 Questions And
Answers
Remains this state until the performance required in a contract is completed




Offer A contractual communication that contains a specific promise and a specific demand


Definite, present intent to be bound to a contract

Initiates the process of making a contract




Indefiniteness When the terms of an agreement are not sufficiently specific, the agreement

does not rise to the level of a contract




Revocation The contractual communication of withdrawing an offer


Cannot be done upon completion of performance




Rejection The refusal of an offer


Terminates an offer

Cannot be reversed




Counteroffer An offer made in response to another's offer

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