Unjust enrichment - Study guides, Class notes & Summaries

Promise - correct answer A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - correct answer The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - correct answer Tangible (touchable), movable personal property Bilateral Contract - correct answer Promise in exchange for a promise Involves promisor and promisee Usually made to a specific...

Contract correct answers an agreement that is freely entered into and that is legally binding on all parties. Contract Requirements correct answers i. Agreement ii. Consideration iii. Capacity iv. Legality Agreement correct answers both, together, equate to an agreement consideration correct answers a legally sufficient bargained for exchange. insufficient are gift promises, moral obligations, past considerations, and illusory promises. capacity correct answers the legal ability...

C12 BUS LAW - CASE ANALYSIS 1 - OPTION WIRELESS, LTD. V. OPENPEAK, INC. ASHWORTH COLLEGE.Summarize the facts of the case OpenPeak, Inc. were in the process of producing a computer tablet product for a client and during the production, placed a purchase order for embedded wireless data from Option Wireless, Ltd. The purchase order was to include details for the 12,300 units to be purchased at the price of USD $848,700. Both the Buyer and Seller settled on the how many shipments the order would...

LEGL 2700 - UGA Gunton (Chapter 9) | Latest Update | 2024/2025 | 100% Pass What is quasi-contract and when does it apply? A quasi-contract is an obligation imposed by law to prevent unjust enrichment, even when no actual contract exists. What is executory contract? An executory contract is one in which some or all of the terms have not yet been performed by one or both parties. What does implied in fact contract mean? An implied in fact contract is formed by the actions or cond...

Definition of a Contract - ️️Total legal OBLIGATION which results from the parties' agreement. Requirements for a Valid Contract - ️️1)Agreement between Parties, 2)Agreement supported by Consideration, 3) Legal Capacity of the Parties, 4)Legal Purpose, 5) Agreement in the Proper form. 3 Kinds of Contracts - ️️Express, Implied Quasi Express Contract - ️️Agreement of the Parties manifested by their words, whether spoken or written. Implied Contract - ️️When people ...

Contract Law for Paralegals Exam Questions and Answers 100% Pass What is a contract? -Answer-a contract is a legally enforceable agreement composed of a promise or promises that have been agreed on and that create both rights and duties for the parties to the agreement. Requires: - mutual assent, - consideration, aka "bargained-for exchange of promises", and - no defenses to formation. (#1, 8) . What law applies to: Services Land Goods -Answer-• common law (state case law) for se...

Elements of a binding contract correct answers1 .An offer must be made. 2. An acceptance must be given. 3. Something of value must be exchanged (consideration) When is a contract not enforceable? correct answers"illegal," Fraud, Minor Quasi-Contract (unjust enrichment) correct answers- Not necessarily a contract, but enforceable - A party confers a benefit that the second party accepts, would be unjust for the acceptor to keep benefit without paying. Promissory Estoppel correct ans...

stipulation correct answers where both parties agree to a version of at least some of the facts before trial; saves time, arguments, research Test for ineffective assistance of counsel correct answers 1. specific acts or omissions that were outside of the bounds of competent assistance (negligence) 2. counsel's errors actually prejudiced the defendant to the point where he was denied a fair trial duty of confidentiality correct answers broader than attorney-client privilege, but also les...

Business Law Exam #2 (STUDY GUIDE)Contract - correct answer Agreement that is enforceable by a court of law or equity Unilateral Contract - correct answer A contract in which the offeror's offer can be accepted only by the performance of an act by the offeree. (A promise for an act) Express Contract - correct answer An agreement that is expressed in written or oral words Quasi-Contract - correct answer An equitable doctrine whereby a court may award monetary damages to a plaintiff for ...

LEGL 2700 Exam 2 Review Questions and answers, RATED A+/ Contracts - -Promises that are enforceable with predictable consequences for performance failures, does not have to be written (ch 8) Contract Law comes from either - -Legislation- UCC Article 2 covers sale of goods Common Law- judge made law for contracts for things other than goods (ch 8) bilateral contract - -promise for promise exchange (ch 8) unilateral contract - -promise is made in exchange for performance so only one party...