LEGL 2700 UGA Test 1 Questions and Answers | Latest Version | 2024/2025 | 100% Pass
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Course
LEGL 2700 UGA
Institution
LEGL 2700 UGA
LEGL 2700 UGA Test 1 Questions and
Answers | Latest Version | 2024/2025 |
100% Pass
What is the primary purpose of contract law?
To enforce agreements made between parties and ensure that promises are fulfilled in a
legally binding manner.
What elements must be present for a contract t...
LEGL 2700 UGA Test 1 Questions and
Answers | Latest Version | 2024/2025 |
100% Pass
What is the primary purpose of contract law?
✔✔ To enforce agreements made between parties and ensure that promises are fulfilled in a
legally binding manner.
What elements must be present for a contract to be legally enforceable?
✔✔ Offer, acceptance, consideration, mutual assent, and a legal purpose.
How does consideration function in a contract?
✔✔ Consideration refers to something of value exchanged between parties that binds them to the
contract.
What is the difference between an express contract and an implied contract?
✔✔ An express contract is explicitly stated in written or spoken terms, while an implied contract
is formed based on the actions or circumstances of the parties involved.
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, What are the typical remedies available for a breach of contract?
✔✔ Remedies for a breach of contract include damages, specific performance, and rescission.
What is the doctrine of "consideration" in contract law?
✔✔ Consideration is a fundamental element of a contract that requires each party to provide
something of value to support their promises.
How does the "capacity" of parties affect the enforceability of a contract?
✔✔ Capacity ensures that parties are legally able to enter into a contract, typically requiring that
they are of legal age and sound mind.
What constitutes a "void" contract?
✔✔ A void contract is one that is invalid from the outset and has no legal effect because it lacks
essential elements or involves illegal activities.
What role do "performance" and "discharge" play in the completion of a contract?
✔✔ Performance refers to the fulfillment of contractual obligations, while discharge occurs
when a contract is completed or otherwise terminated legally.
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