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PLA 4424 Exam 2 Questions & Answers 2024/2025 $7.99
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Exam (elaborations)

PLA 4424 Exam 2 Questions & Answers 2024/2025
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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...

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  • August 16, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • pla 4424 exam 2 questions answers

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  • PLA 4424
  • PLA 4424

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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 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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