BLAW 2301 EXAM 2 Questions and Answers
what is a contract
s legally enforecable agreement
-did the defendant promise to do something?
-is it fair to make her honor her word?
-are there unsual reasons to hold her liable?
7 key characteristics that must be present to make a contract enfor...
what is a contract s legally enforecable agreement
7 key characteristics that must be present to make
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BLAW 2301 EXAM 2 Questions and
Answers
what is a contract - answer s legally enforecable agreement
-did the defendant promise to do something?
-is it fair to make her honor her word?
-are there unsual reasons to hold her liable?
7 key characteristics that must be present to make a contract enforceable - answer -
offer
-acceptance
-consideration
-legality
-capacity
consent
-writing (for some)
noncompetition agreement - answer contract in which one party agrees not to
compete with another (Davis v Mason 1792)
bilateral contract - answer a promise made in exchange for another promise (most
contracts are bilateral)
unilateral contract - answer one party makes a promise that the other party can
accept only by actually doing something (contingent on some action)
executory contract - answer an agreement in which one or more parties has not yet
fulfilled its obligations
executed contract - answer an agreement in which all parties have fulfilled their
obligations
unenforceable contract - answer occurs when the parties intended to form a valid
bargain, but a court declares that some rule of law prevents enforcing it
voidable contract - answer an agreement that may be terminated by one of the
parties
void agreement - answer an agreement that neither party can enforce, because that
bargain is illegal or one of the parties had no legal authority to make it
express contract - answer an agreement with all important terms explicitly stated
, implied contract - answer an agreement in which the words and conduct of the
parties indicate that they intend an agreement
uniform commercial code (UCC) - answer Body of laws governing commercial
transactions in the United States.
article 2 UCC - answer sale of goods
how to enforce non-contracts - answer promissory estoppel
quasi-contract
promissory estoppel - answer the defendant made a promise that the plaintiff relied
on
in promissory estoppel, the injured plaintiff must prove - answer (in a case with no
valid contract) the plaintiff can prove promissory estoppel if there is promise, reasonable
reliance, and injustice
quasi-contract - answer the defendant received benefit from the plaintiff and retaining
that benefit would be unfair
in quasi-contract, the injured plaintiff must prove - answer (in a case with no valid
contract), the plaintiff can prove quasi-contract if there is benefit to the defendant,
reasonable expectation of payment, and unjust enrichment
when can a plaintiff use promissory estoppel? - answer -when the defendant made a
promise knowing that the plaintiff would likely rely on it
-the plaintiff did rely on the promise
-the only way to avoid injustice is to enforce the promise
when can a plaintiff use quasi-contract? - answer -the plaintiff gave some benefit to
the defendant
-the plaintiff reasonably expected to be paid for the benefit and the defendant knew this
-the defendant would be unjustly enriched if he did not pay
quantum-meruit - answer "As much as he deserves" - the damages awarded in a
quasi-contract case
a contract can only be formed if the parties had a - answer meeting of the minds. one
side makes an offer and the other makes an acceptance
offer - answer an act or statement that proposes definite terms and permits the other
party to create a contract by accepting those terms
acceptance - answer unconditional agreement to the terms of the offer
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