LEGL 2700 - UGA Gunton (Chapter 9) |
Latest Update | 2024/2025 | 100% Pass
What is quasi-contract and when does it apply?
A quasi-contract is an obligation imposed by law to prevent unjust enrichment, even when
no actual contract exists.
What is executory contract?
An executory contract...
LEGL 2700 - UGA Gunton (Chapter 9) |
Latest Update | 2024/2025 | 100% Pass
What is quasi-contract and when does it apply?
✔✔ A quasi-contract is an obligation imposed by law to prevent unjust enrichment, even when
no actual contract exists.
What is executory contract?
✔✔ An executory contract is one in which some or all of the terms have not yet been performed
by one or both parties.
What does implied in fact contract mean?
✔✔ An implied in fact contract is formed by the actions or conduct of the parties, rather than
written or spoken words.
What is the doctrine of impossibility?
✔✔ The doctrine of impossibility excuses a party from performing a contract if an unforeseen
event makes performance objectively impossible.
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, What is exculpatory clause?
✔✔ An exculpatory clause is a provision in a contract that relieves one party from liability for
certain types of damages or losses.
What is material breach?
✔✔ A material breach is a significant violation of a contract that undermines the contract’s
purpose and allows the non-breaching party to terminate the agreement.
What is substantial performance?
✔✔ Substantial performance occurs when a party fulfills most of the contract terms, but may
have deviated slightly from the agreement.
What does implied in law contract refer to?
✔✔ An implied in law contract, or quasi-contract, is created by a court to prevent unjust
enrichment when no formal agreement exists between the parties.
What is contractual performance under duress?
✔✔ Contractual performance under duress occurs when a party is forced to perform a contract
due to threats or coercion.
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