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LEGL 2700 Roessing Exam 2 Questions and Answers 100% Pass
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LEGL 2700 Roessing Exam 2 Questions and Answers 100% Pass Promise - A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing c...

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  • 30 de noviembre de 2024
  • 15
  • 2024/2025
  • Examen
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  • legl 2700 roessing exam 2 questions and answers 10

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  • LEGL 2700
  • LEGL 2700

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EmilyCharlene

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LEGL 2700 Roessing Exam 2 Questions and
Answers 100% Pass


Promise - ✔✔A commitment or willingness to be bound to a contract obligation


Uniform Commercial Code (UCC) - ✔✔The most successful attempt to have states adopt a uniform law


Purpose is to simplify, clarify, and modernize the laws governing commercial transactions


Goods - ✔✔Tangible (touchable), movable personal property


Bilateral Contract - ✔✔Promise in exchange for a promise


Involves promisor and promisee


Usually made to a specific person


Acceptance, then performance later


Binding even when promise hasn't been fulfilled yet


Ex) work order to paint house


Unilateral Contract - ✔✔Promise in exchange for an action


Made to the whole world


Acceptance and performance happen at the same time


Not binding until action has been done


Ex) lost dog poster and reward


Express Contracts - ✔✔A contract in which parties show their agreement in words



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©EmilyCharlene 2024. All Rights Reserved.

, Implied-in-fact Contracts - ✔✔A legally enforceable agreement inferred from the circumstances and

conduct of the parties


Implied-in-law Contract - ✔✔A quasi-contract; not a true contract


Legal fiction that the courts use to prevent unjust enrichment and wrongdoing


Courts permit the person who conferred a benefit to recover the reasonable value of that benefit


Nonetheless, the elements of a true contract are not present


Quasi-contract - ✔✔An implied-in-law contract; not a true contract


Legal fiction that the courts use to prevent unjust enrichment and wrongdoing


Courts permit the person who conferred a benefit to recover the reasonable value of that benefit


Nonetheless, the elements of a true contract are not present


Enforceable Contract - ✔✔A contract that can be enforced in court


Unenforceable Contract - ✔✔A contract that cannot be enforced in court


Valid Contract - ✔✔A contract that contains all of the proper elements of a contract


Void Contract - ✔✔A contract that is empty, having no legal force; ineffectual, unenforceable


Ex) drug sale, killer-for-hire


In Pari Delicto - ✔✔The parties to an illegal contract are equally at fault


Voidable Contract - ✔✔Capable of being declared a nullity, though otherwise valid


Party taken advantage of can avoid contract; other party cannot


Executed Contract - ✔✔A contract that is fully accomplished or performed, leaving nothing unfulfilled




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