Blaw 212 laws - Study guides, Class notes & Summaries

BLAW 212 Laws and Tests Questions and Answers All Correct What are the four steps of contract formation? - Answer-1. Offer 2. Acceptance 3. Intention to be bound 4. Consideration What is an offer? - Answer-A clear and unambiguous undertaking or promise to be bound by specified terms which becomes binding on acceptance What are the three characteristics of offer? - Answer-1. Must be definite and clear in its terms (leaves nothing open for negotiations) 2. Can be expressed or implied f...

BLAW 212 Laws and Tests Questions and Answers All Correct What are the four steps of contract formation? - Answer-1. Offer 2. Acceptance 3. Intention to be bound 4. Consideration What is an offer? - Answer-A clear and unambiguous undertaking or promise to be bound by specified terms which becomes binding on acceptance What are the three characteristics of offer? - Answer-1. Must be definite and clear in its terms (leaves nothing open for negotiations) 2. Can be expressed or implied ...

BLAW 212 Laws and Tests Questions and Answers All Correct What are the four steps of contract formation? - Answer-1. Offer 2. Acceptance 3. Intention to be bound 4. Consideration What is an offer? - Answer-A clear and unambiguous undertaking or promise to be bound by specified terms which becomes binding on acceptance What are the three characteristics of offer? - Answer-1. Must be definite and clear in its terms (leaves nothing open for negotiations) 2. Can be expressed or implied from...

BLAW 212 LAWS TEST QUESTIONS WITH ALL CORRECT ANSWERS Test for Minors (Capacity) - Answer-- Minors have no capacity to contract - Contract unenforceable against minor unless the court considers the contract was fair and reasonable at the time the contract was entered into Test for Mentally Disordered People (Capacity) - Answer-1. The MDP proves that she/he did not understand what he/she was doing when entering into the contract because of the mental disorder; and 2. That the other party w...