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MBE BAR EXAM VERIFIED ANSWERS!!
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MBE BAR EXAM VERIFIED ANSWERS!!
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Q&AMBE BAR EXAM VERIFIED ANSWERS!!
Contract Formation - ✔✔offer, acceptance, consideration
offer - ✔✔outward manifestation of itnent to enter into a K
need intent & speciific terms
How to Terminate an offer - ✔✔death
lapse of time
rejection
counteroffer
revocation
Option K - ✔✔promise to keep offer open & need additional consideration
UCC Firm Offer - ✔✔1) offer by MERCHANTS and 2) signed by merchant
no time stated then open for MAX of 3 months
Unilateral - ✔✔promise for an act
, Q&A
pay you 500 if you wash my house
moment you begin performance, becomes irreovocable
bilateral - ✔✔promise for a promise
Common Law Mirror Image rule - ✔✔acceptance must mirror the offer
-silence
-performance
common law mailbox rule - ✔✔acceptance is effective when SENT but if a
rejection is sent first and then an acceptance is sen whichever arrives first
wins
UCC Acceptance - ✔✔construed liberallly except if there is material
change in terms of K, and objection to the change of a term.
consideration - ✔✔bargained for exchange ; not valid consideration is
illusory promise or past or moral consideration.
Exceptions ar promise to pay debt barred by SOL, barred by bankruptcy,
promise not to sue, detrimental reliance
Accord and Satisfaction - ✔✔if check marked paid in full, and dont dispute
it, even if mark paid in full owe full amount. Needs to be in dispute
, Q&A
Defenses to the Enforceability of a Contract - ✔✔Age= voidable
mental illness=void
duress=wrongful threat
undue influence= uneven bargaining position
illegal=unenforceable
unilateral mistake= generally not defense unless 1) other party knew of
mistake 2) clerical error
mutual mistake= both parties mistakes and can rescind
Intentional misrepresnetation= knew or shouldve known of falisity with
intent to induce reliance
negligence misrepresentation= causes innocent party to determinentaly
rely
non-compete clauses= reasonable under the circumstances (how long and
where)
Statute of Frauds - ✔✔certain contracts must be in writing Marriage, K cant
be performed within one year, land, executor, guarantor, and sale of goods
more than 500 or more
SOF: Part Performance land Exception - ✔✔2 out of the 3: 1) some
payment 2) possession of land 3) valuable improvements
SOF:
, Q&A
Guarantees/ Suretyship exception - ✔✔if self serving, K does not need to
be in writing
SOF Sale of Goods of 500 or more exception - ✔✔1) partial performance
takes it out AND
2) for merchants if confirmation signed by sender, 2) with the quantitiy and
3) no written objection w/in 10 days
Elements needed for valid SOF contact - ✔✔1) parties 2) subject terms 3)
material terms 4) signed by party to be charged
Parol Evidence - ✔✔going to court to add more terms to the K, but must be
terms dicussed prior to or at time entered into the K
Complete Integration or merger clause= final agreement between the
parties & NO parol evidence except to clear up an ambiguity
Partial Integration= parol evidence is admissible to explain or supplement,
but CANT contradict
parol evidence is admissible to show even in FINAL integration - ✔✔fraud
durress
mistake
condition precedent
course of dealing
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