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MBE Multistate Bar Examination AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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MBE Multistate Bar Examination AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ Unilateral Contract - CORRECT ANSWER Performance divided into 2 + parts under K; Number of parts due from each party is the same; a...

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  • 19 de noviembre de 2024
  • 40
  • 2024/2025
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  • mbe multistate ba
  • mbe multistate bar examination and practice exam n
  • mbe multistate bar examination and practice

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MBE Multistate Bar Examination AND
PRACTICE EXAM NEWEST ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+

Unilateral Contract - CORRECT ANSWER Performance divided into 2
+ parts under K; Number of parts due from each party is the same; and
Performance between parties is equivalent.

Divisible Ks - CORRECT ANSWER Agreement to leave open in
exchange for consideration.

Option K - CORRECT ANSWER Generally preliminary proposal unless
words are to identifiable person (e.g. first come first serve).

Quasi-K - CORRECT ANSWER Equitable remedy when K results are
unfair. Prevents unjust enrichment.

Mixed contracts - CORRECT ANSWER Determined by the more
important part of the deal, except divided contracts in which both UCC
and common law rules may apply.

Offer - CORRECT ANSWER A manifestation of a present intent to
contract demonstrated by promise, undertaking or commitment;
Definite and certain terms; and Communicated to an identified offeree.
Must include description.

Firm Offer under UCC - CORRECT ANSWER Offer can't be revoked for
up to 3 months if: Offer to buy or sell goods; Signed written promise to
keep open; and Party is merchant.

Revocation - CORRECT ANSWER Unambiguous statement by offeror
to offeree or unambiguous conduct indicating unwillingness to K that
offeree is aware of.

,Instances Where Offer Irrevocable - CORRECT ANSWER Option K;
Detrimental reliance (must be reasonably foreseeable); Start of
performance.

Rejection of Offer - CORRECT ANSWER Counteroffers kill; Adding
terms under common law mirror image rule; Lapse of time (e.g. > 1
month); Conditional acceptance.

Acceptance - CORRECT ANSWER A manifestation of assent to the
terms of an offer in the manner prescribed or authorized by the offer.
Full performance; Start performance: for bi-lateral K, but not for
unilateral K. Seller of goods sends wrong goods, unless with
explanation (then it's a counteroffer). Offeree promise to perform.

Mailbox rule - CORRECT ANSWER Acceptance effective when mailed.
All else effective when received.

Mirror Image Rule - CORRECT ANSWER Under UCC: One party is
merchant → add'l term is proposal subject to separate rejection; Both
parties merchants → add'l term is part of K unless (1) materially alters
K; (2) offeror objects within reasonable time; or (3) offer limits
acceptance to the terms.

Consideration - CORRECT ANSWER Requires bargained-for exchange
of legal detriment between parties. Substitutes for consideration:
Written promise when prior obligation had applicable legal defense;
Promissory estoppel. Not considered consideration, except expressly
requested performance/forbearance and expectation of payment.

Past Consideration - CORRECT ANSWER New consideration required
for pre-existing K or statutory duty: except in CL, unforeseen difficulty,
third party promise or promise to pay debt barred by SoL.

Defenses to a Contract - CORRECT ANSWER Incapacity; Illegality;
Against Public Policy; Misrepresentation/Nondisclosure; Duress;
Ambiguity/Misunderstanding; Mistake; Statute of Frauds.

,Misrepresentation/Nondisclosure - CORRECT ANSWER When a
material term is open to two reasonable interpretations

Mutual mistake - CORRECT ANSWER No contract if both parties
share a mistaken belief on a fundamental fact

Unilateral mistake - CORRECT ANSWER Not voidable unless the
other party was aware of the mistake

Statute of Frauds - CORRECT ANSWER Requires written evidence for
certain types of contracts

Integration issues - CORRECT ANSWER Determining if a contract is
fully integrated or partially integrated

Parol Evidence Rule - CORRECT ANSWER Limits the use of oral
evidence to contradict written terms

Course of performance - CORRECT ANSWER Consistent actions of
the same parties under the same contract

FOB - CORRECT ANSWER Free on board, a shipping term indicating
transfer of ownership

Implied Warranty of Merchantability - CORRECT ANSWER Goods must
be fit for their ordinary purpose

Breach of Contract - CORRECT ANSWER Occurs when a party fails to
fulfill contract terms

Perfect Tender - CORRECT ANSWER Seller must deliver goods
exactly as specified in the contract

Substantial performance - CORRECT ANSWER Sufficient completion
of contract terms to warrant payment

Anticipatory Repudiation - CORRECT ANSWER One party's clear
indication of refusal to honor the contract

, Rescission - CORRECT ANSWER Mutual agreement to cancel an
existing contract

Modification - CORRECT ANSWER Changing terms of a contract,
requiring good faith in UCC

Novation - CORRECT ANSWER Mutual agreement to substitute
existing party with another, excusing performance of substituted
party.

Impossibility - CORRECT ANSWER Performance can't be done due to
damage, destruction, death, subsequent law or regulation.

Impracticability - CORRECT ANSWER Task can't be done without
extreme and unreasonable difficulty or expense. Increase in seller
cost is rarely an excuse.

Frustration of Purpose - CORRECT ANSWER Unforeseeable
supervening event destroys the contract's purpose.

Specific Performance - CORRECT ANSWER A remedy that cancels
the contract and enforces the specific terms agreed upon.

Reformation - CORRECT ANSWER Changes a written agreement to
conform to the parties' original understanding, based on valid contract
and grounds for reformation.

Reclamation - CORRECT ANSWER Right of an unpaid seller to
reclaim goods if the buyer was insolvent at the time of receipt.

Police Power - CORRECT ANSWER Power reserved to states to
regulate health, safety, and morals of its citizens.

Commerce Power - CORRECT ANSWER Federal power to regulate
commerce among states and with foreign nations.

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