Perez BLW 302 Exam 3 Questions and
Answers
Promisor - ANSWER-Makes the promise
Promisee - ANSWER-A person to whom a promise is made.
Bilateral - ANSWER-Offeree must only promise to perform (A promise for a promise)
Unilateral - ANSWER-Offeree can accept the offer only by completing the contrac...
Implied Covenant of Good Faith and Fair Dealings - ANSWER✔✔-All contracts
Ambiguity - ANSWER✔✔-unclear or ambiguous when:
a) The parties' intent cannot be determined from the contract's language.
b) The contract lacks a provision on a disputed term.
c) A term is susceptible to more than one interpretation.
d) When there is uncertainty about a provision.
Extrinsic Evidence (parol) - ANSWER✔✔-Evidence outside the four corners of the document
Plain meaning Rule - ANSWER✔✔-A court will enforce a contract according to its obvious terms when it
is clear and unequivocal
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