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LEB 320F Final Exam Questions and Answers 100% Solved
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LEB 320F Final Exam Questions and Answers 100% Solved What does "In Writing" mean? 2 ways... - Written K and Memo signature required to enforce signature against someone. Examples of signatures? - Longhand, initials, letterhead and watermark True or False? Oral agreement followed by a legal me...

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  • December 14, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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LEB 320F Final Exam Questions and

Answers 100% Solved


What does "In Writing" mean? 2 ways... - ✔✔Written K and Memo

signature required to enforce signature against someone. Examples of

signatures? - ✔✔Longhand, initials, letterhead and watermark

True or False? Oral agreement followed by a legal memo is sufficient? -

✔✔True.

Memo sufficient as long as contains what information? - ✔✔Subject matter

of K, parties and consideration( price)

When can you have multiple writings be joined to satisfy requirement? -

✔✔1. Writings are physically attached to one another

2. Writings refer to one another

3. Writings clearly have to do with one another

Definition to Parole Evidence Rule? - ✔✔Neither party can introduce

"parole" outside evidence in court for the purpose of adding to or changing

the terms of the contract

Exceptions to parole evidence rule. - ✔✔1. K is incomplete
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,2. K is ambiguous

3. K contains mistake/ typo

4. evidence K induced by fraud, duress, etc.

Who is the offeror? - ✔✔one who offers

Who is the offoree? - ✔✔one to whom the offer is make?

Bilateral K - ✔✔Promise for a promise; the exchange of mutual promises,

the actual performance to occur at some later time

Example of Bilateral K - ✔✔Professional Football club sends a K to one of

its players in June, offering $800,000 for the upcoming season.

Unilateral K - ✔✔promise for performance; offer can only be accepted by

the performance of a particular act

Express K - ✔✔intentions of the parties are explicitly and fully stated in the

terms either orally or in writing.

Implied K - ✔✔no words where to base contract; conduct creates

agreement

quasi K - ✔✔no contract; contract gets imposed because parties didn't

draw one; return reasonable value for service rendered

Examples of implied K - ✔✔barber shop, restaurant, taxi cab, cleaners

Valid K - ✔✔all elements there; enforceable against both parties
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, Void K - ✔✔not all elements there; invalid, never existed

voidable k - ✔✔ok to begin with, but parties can walk away without breach;

problem with element of capacity

unenforceable K - ✔✔valid to begin with, but subsequently rendered

unenforceable because of the application of some law

Negotiated K - ✔✔K's agreed upon after a certain amount of bargaining

Adhesive K - ✔✔one party usually has superior bargaining power than the

other party; "take-it-or-leave-it"

examples of adhesive K - ✔✔leasing agreements, hospital admissions

elements of K - ✔✔agreement [offer + acceptance]

consideration

legality

capacity

Sales law is governed by what? - ✔✔UCC- Uniform Commercial code

Article 2 of the UCC is adopted by all states except? - ✔✔Louisiana

Sales Law - ✔✔1. Sale: the passage of title from seller to buyer for a price

2. good




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