Bilateral mistake - Study guides, Class notes & Summaries

Obligation - ANSWER A legal relationship in which a person (the obligor) becomes bound to perform in another person's (the obligee's) favor Contract - ANSWER An agreement between two or more parties that creates, modifies, or extinguishes obligation(s) Synallagmatic/bilateral contract - ANSWER A contract that obligates both parties Unilateral contract: A contract that only obligates one party Onerous contract: - ANSWER A contract in which each party obtains an advantage in exchange f...

CPCU 530 Exam Questions and Answers All Correct Civil Law - Answer-Comprehensive codes of written laws or statutes that apply to all legal questions. These systems rely on scholarly interpretations of their codes and constitutions rather than on court decisions Common Law - Answer-Body of law derived from court decisions as opposed to statutes or constitutions. Doctrine of Stare Decisis - Answer-Principle that lower courts must follow precedents set by higher courts Substantive Law -...

1 AIC 301 QUIZ/TEST STUDY EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Market Share Liability Correct Answer: Applies when a product that has harmed a consumer cannot be traced to a single manufacturer. They are liable unless they can prove they could not have made the product involved. A Defense to Fraud Correct Answer: The defendant must make the representation with the intent to influence the other party's action. If the defendant did not intend to deceiv...

KY Real Estate Exam Vocab Already Rated A+ Abandonment ️Non-payment of taxes Abstract of Title ️A history of the ownership of a parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause ️Upon default all of the principal installments come due immediately Accession ️The idea that the owner of land is entitled to all that the soil produces or all that is added to the land either intentionally or by mistake Accretion ️land accumulated by gra...

Unilateral Contract Contract based on one party's making a promise that calls for action. Ex: (Only one promise, Eg: Prof. Smith promising 6 hours of work for $100.) Bilateral Contract Contract based on both parties making promises to each other. Express Contract Contract is communicated in writing, orally, or both. Implied Contract No express contract but parties' actions/relationship supports avoiding unjust enrichment. Unjust Enrichment Someone benefited un...

Colibri Real Estate Vocabulary Questions and Answers Abstract of Title A history of the ownership of a parcel of land which lists transfers of title, rights, and liabilities. Accession The idea that the owner of land is entitled to all that the soil produces or all that is added to the land either intentionally or by mistake. Trade fixtures not removed are "assessed" by the owner of the property. Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 ...

BUL 3310 TEST QUESTIONS WITH CERTIFIED ANSWERS The Uniform Commercial Code requires that any modification to a contract for the sale of goods must be supported by new consideration T/F - Answer-False In a bilateral contract, each party must gain a legal benefit, but only one party need incur a legal detriment T/F - Answer-False Under an output contract, the seller loses the right to sell his goods to anyone but the buyer named in the output contract T/F - Answer-True Sham considerat...

What is 0 dB HL? - ANS The minimum audible pressure needed at each frequency for someone with NH to detect a pure tone; varies by frequency. What does expansion do? - ANS Reduces gain of low-level ambient sounds What is true about unilateral hearing loss and noise? - ANS Speech intelligibility improves when the better ear is closer to the noise source, which improves SNR in that ear. What do cardioid microphones do? - ANS Pick up sounds with sensitivity f...

Contracts - Law 101 Exam Questions And Answers All Correct VALID CONTRACT - ANSWER- A valid contract consists of an offer, acceptance, consideration and lack of formation defenses. OFFER - ANSWER- An offer is a manifestation of present contractual intent, communicated to an identified offered, containing definite and certain terms. ACCEPTANCE - ANSWER- An acceptance is an unequivocal assent to the terms of the offer. Under Common Law, the acceptance must be a "mirror image" of the off...

MIE 305 Final Exam Study Guide Possession - ANS Bundle of Right that is the right to claim title over the property, one exerts dominion and ultimate power over it Control - ANS Bundle of Right that is the right to decide how the property is to be used, or employed Enjoyment - ANS Bundle of Right that is the means by which the rights-holder can decide how to use the property. Others can violate this through the law of nuisance. Exclusion - ANS Bundle of Right...