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
GBL 385 Exam #2 Study Guide with Complete Solutions CA$15.14   Add to cart
Quickly navigate to
Preview
  2.  
  3. GBL 385
  4.  
  5. GBL 385

Exam (elaborations)

GBL 385 Exam #2 Study Guide with Complete Solutions
 6 views  0 purchase
  • Course
  • GBL 385
  • Institution
  • GBL 385

GBL 385 Exam #2 Study Guide with Complete Solutions REVIEW OF THE TYPES OF LEGAL LIABILITY - Answer️️ -(1) STATUTORY LIABILITY (2) CONTRACT LIABILITY (3) TORT LIABILITY What is a Contract? - Answer️️ -A contract Is a Legally Enforceable Agreement (offer and Acceptance) Voluntarily En...

[Show more]

Preview 3 out of 18  pages

Document information

  • September 15, 2024
  • 18
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • gbl 385 exam 2 study guide with complete solution

Written for

  • GBL 385
  • GBL 385

Seller

avatar-seller
SophiaBennett

Reviews received

Content preview

©SOPHIABENNETT
EXAM_SOLUTIONS GUARANTEED SUCCESS 2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/3/24 2024/2025

, ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM



GBL 385 Exam #2 Study Guide with
Complete Solutions


REVIEW OF THE TYPES OF

LEGAL LIABILITY - Answer✔️✔️-(1) STATUTORY LIABILITY


(2) CONTRACT LIABILITY

(3) TORT LIABILITY

What is a Contract? - Answer✔️✔️-A contract Is a Legally Enforceable Agreement (offer

and Acceptance) Voluntarily Entered Into between two (or more) Competent Parties, to

Do or Not to Do something that is Possible to Be Done, that is Not Unlawful, and that is

supported by Consideration.

A valid contract must... - Answer✔️✔️-A validly formed contract must provide a basis for

determining the existence of a breach and for giving an appropriate remedy

[Restatement § 33].

Non-goods contracts - Answer✔️✔️-Non-goods contracts, according to the Restatement,

must include terms that are sufficiently definite and certain;

Goods Contracts - Answer✔️✔️-goods contracts, on the other hand, do "not fail for

indefiniteness even if one or more terms are left open if the parties intended to make a

contract and there is a reasonably certain basis for giving an appropriate remedy."

examples of certain categories of contracts

(All regulated in some manner by statute) - Answer✔️✔️-1) Employment Contracts


Page | 1

, ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM


2) Insurance Contracts

3) Arbitration Agreements

4) Wealth transfer contracts

5) Financial services

Employment Contracts - Answer✔️✔️-presumption of the employment contract is that it is

for an indefinite period of time and is considered "at will"; including non competition

agreements and benefit provisions

Insurance Contracts - Answer✔️✔️-shifting risk of loss by contract; a requirement of law

in many circumstances (health insurance, vehicles, government work, liability)

Arbitration Agreements - Answer✔️✔️-contractually removing certain disputes from

litigation and using alternate dispute resolution instead of court.

Financial Services - Answer✔️✔️-loans; investments

Wealth Transfer Contracts - Answer✔️✔️-wealth that passes upon death via contracts

established during life, including the use of trusts, IRA's, life insurance

Types of Contracts - Answer✔️✔️-1) Express - an agreement manifested by words

2) Implied-in-fact - an agreement manifested by conduct

Economic Damages - Answer✔️✔️-Economic damages refers to compensation for

objectively verifiable monetary losses such as past and future medical expenses, loss of

past and future earnings, loss of use of property, costs of repair or replacement, the

economic value of domestic services, loss of employment or business opportunities.

Non Economic Damages - Answer✔️✔️-Damages for noneconomic losses are damages

for pain and suffering, emotional distress, loss of consortium or companionship, and


Page | 2

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 SophiaBennett. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$15.14. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79202 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$15.14
  • (0)
  Add to cart