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LEGL 2700 Test 1 Epstein UGA | Latest Update | 2024/2025 | Graded A+ £7.49
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LEGL 2700 Test 1 Epstein UGA | Latest Update | 2024/2025 | Graded A+
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LEGL 2700 Test 1 Epstein UGA | Latest Update | 2024/2025 | Graded A+ What is breach of contract? A breach of contract occurs when a party fails to perform their duties as agreed upon in the contract. What is statute of frauds? The statute of frauds requires certain types of contract...

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  • September 4, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • legl 2700 test 1 epstein latest update 202

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LEGL 2700 Test 1 Epstein UGA | Latest
Update | 2024/2025 | Graded A+

What is breach of contract?


✔✔ A breach of contract occurs when a party fails to perform their duties as agreed upon in the

contract.




What is statute of frauds?


✔✔ The statute of frauds requires certain types of contracts to be in writing to be enforceable,

such as contracts for the sale of real estate.




What is liquidated damages?


✔✔ Liquidated damages are pre-determined amounts specified in a contract that are payable if a

party breaches the contract.




What is unilateral contract?


✔✔ A unilateral contract is an agreement where one party promises something in return for the

performance of an act by the other party.




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, What is parol evidence rule?


✔✔ The parol evidence rule prohibits the introduction of oral or written statements made prior to

or at the time of a written contract that contradict the written terms.




What is capacity to contract?


✔✔ Capacity to contract refers to a person’s legal ability to enter into a binding contract,

requiring they be of legal age and mentally competent.




What does specific performance involve in contract law?


✔✔ Specific performance is a legal remedy where a court orders a party to fulfill their

contractual obligations rather than pay damages.




What is mutual mistake in contract law?


✔✔ Mutual mistake occurs when both parties to a contract are mistaken about a material fact,

allowing for the contract to be voided.




What is enforceability of a contract?


✔✔ Enforceability refers to whether a contract can be legally upheld and executed by a court.




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