PLA 4424 Exam 2 Questions & Answers 2024/2025
A claim for a specific sum is known as - ANSWERSliquidated damages
A compromise and settlement agreement where parties may agree on a lesser amount is referred to as a(n) - ANSWERSaccord and satisfaction
A minor together with the parent may b...
A claim for a specific sum is known as - ANSWERSliquidated damages
A compromise and settlement agreement where parties may agree on a lesser amount is referred to as
a(n) - ANSWERSaccord and satisfaction
A minor together with the parent may be held liable for the ________________ of necessities received
by the minor - ANSWERSreasonable value
Adults who enter into contracts with minors have the right to - ANSWERSnone of the possible answers
An intoxicated person who enters a contract may upon sobriety ______________ the contract. -
ANSWERSratify or disaffirm
Courts look at the subject matter, relationship of the parties and ___________________ in determining
whether a minor has disaffirmed a contract. - ANSWERStiming of the disaffirmance
A promise that gives a false impression of a contract is - ANSWERSillusory
A public policy argument for rescinding a contract is - ANSWERSunconscionability
Fraud constitutes a method of - ANSWERSdestroying mutual assent
An adhesion contract is considered - ANSWERSunconscionable
A deviation from the Mirror Image Rule creates - ANSWERScounteroffer
, Duress is identified as a method to destroy mutual assent in a contract - ANSWERStrue
The legal capacity to enter into a contract does not include being sober or not addicted to drugs. -
ANSWERSfalse
Food and shelter are the only necessities for which a minor can be held responsible by a court. -
ANSWERSfalse (also includes clothes)
A mistake can occur when either both parties or only one of the parties is wrong about a fact. -
ANSWERStrue
Misrepresentation is defined as - ANSWERSan innocent misstatement of fact
Undue influence cases are common in - ANSWERSfiduciary relationships
A past moral obligation is unsupported by consideration and - ANSWERSunenforceable
gift
Preexisting duty
Statute of Limitations
Illusory promise
consideration - ANSWERSa promise by one party with no exchange of value
a prior responsibility to actor not act on doing something
time period in which a lawsuit must be filed
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