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BLAW Test 3
| Question | Answer |
|---|---|
| Aunt Ellie promises her 21 yr old nephew, Robbie, that she will pay him $100 if he quits smoking for a month. If Robbie does, is there a binding contract? | YES, because Robbie gave up a legal right. |
| Mary agrees to sew Georgia's prom dress for $50 plus costs. Georgia decides that she wants ruffles around the neck and calls Mary who says it will now cost $60. When Mary finishes the dress (with ruffles), Georgia must pay: | $60, since the modified agreement is supported by additional consideration. |
| An undisputed debt is: | An obligation that is not contested as to its existence or amount. |
| Andrew agrees to paint Rosalene's house to $500. 2 days after he starts the job, he decides $500 isn't enough....... What principle applies to this fact situation? | Andrew was already obligated to paint the house. He gives no additional consideration in return for Rosalene's promise to pay more money. |
| A(n)________________ is a measure designed to protect the public from unqualified practitioners. . | Regulatory License |
| Which of the following would generally be considered to be a revenue-raising licensing law? | A statute requiring that sales people be licensed, but no establishing any educational or training requirements. |
| Archie bets his friend Jerry $100 that the Packers will win the next Super Bowl. This is an: | Illegal wagering agreement. |
| Cheryl, age 16. Ordered a new dress to wear to the school prom. She decides that the dress is too expensive, and she now wishes to cancel the order. Cheryl: | May dis-affirm this executory contract because, while clothing, in general is classified as a necessary, a new prom formal would probably not be classified as a necessary. |
| The UCC Article 2 statue of frauds provision applies to the sale of goods for the price of ____________ or more. | $500 |
| Which of the following promises in consideration of marriage would be outside the statute of frauds? | Camilo and Laura mutually promise to marry each other in formal ceremony on June 23. |
| In which of the following cases will an oral contract for the sale of goods of $750 be enforceable without a writing. | (1) The goods are to be specially manufactured for the buyer and the seller has made a substantially beginnin of their manufacture.; (2) A party admits in an answer to a complaint in a lawsuit.... (3) Delivery and acceptance of the goods has been made. |
| Which of the following duties would not be delegable? | Arthur has a duty to teach an accounting class at a community college during the fall semester. |
| Stark enters into a contract with a contractor to build a large shopping mall in River City. Donner will greatly benefit from this contract since his convince store is adjacent to the mall. Donner in this instance is: | An incidental beneficiary |
| Darrell owns a parcel of land that is encumbered by a mortgage held by the First National Bank. Darrell agrees to sell the land to Paul for $500,000. Darrell and Paul together go to the First National Bank to discuss the sale and purchase with the banker | In this case: The agreement among the three is a novation. |
| Jack recently borrowed $50 from Ricardo for a couple of weeks. Jack, still short of cash, tells Ricardo, "I will wash and wax your car in exchange for the $50 I owe you." Ricardo tells Jack, "Ok, that's great!" Jack's performance of his new duty will be: | A satisfaction |
| On November 1, Paula and Roberta enter into a contract where both parties are obligated to perform on December 31. On December 1, Paula tells Roberta, "I can, in no way, perform my duties in our contract." This statement is: | Anticipatory Repudiation |
| Rebecca sees a pair of beautiful silver shoes in a store window. She goes in and tells the shopkeeper, "If I am asked to prom I will buy those shoes. Please hold them for me for two weeks." If the shopkeeper signs a note that says,"Will hold until May 5.. | Yes, and there is a condition precedent to the contract. |
| Anita, who is a seamstress, agrees to sew a suit for Bryan, who promises in return to pay Anita $500 for the suit i he satisfied with it. Anita completes the suit, which fits Bryan perfectly. Nevertheless, he says he is not satisfied and refuses to accept | Anita has no recourse against Bryan, because she agreed to the subjective standard. |
| Austin enters a contract with Bess to remodel her kitchen within one month. He repeatedly comes to her house to start the project, but Bess does not let him begin because she says she needs unrestricted use of her kitchen. Bess has: | Materially breached the contract by substantially interfering with or preventing Austin's performance. |
| A contractor and Southampton, Inc. have a contract, which calls for the contractor to build a building with the completion by June 15. If the building is not completed by that date, the contract calls for the contractor to pay $100 per day in damages. | Liquidated damages |
| The UCC provides that a contract for the sale of goods can be effectively modified without a new consideration, provided the modification is made in good faith and both parties intend to modify the contract. | TRUE |
| The term "past consideration" is not really a consideration at all because the law will not find a contract where there is no bargained-for-exchange. | TRUE |
| A disaffirmance must come either during a minor's minority or within a reasonable time after he reaches majority. | TRUE |
| A delegation still leaves the one who delegated the duty responsible for performance of the duty. | TRUE |
| Specific performance is the usual remedy for breach of contract | False |
| Benefit-of-the Bargain Rule | When fraud occurs... permits intentionally defrauded party to recover general damages that are equal to the difference between the value of what she has received and the value of the fraudulent party's performance as represented |
| Specific Performance | compels the defaulting party to perform her contractual obligations -personal property must be rare or unique for this remedy (for normal personal property, remedy at law is sufficient) -sale of real property (land)...remedy is available |
| Enforcement of disputed debt | The creditor may employ a debt collection agency to recover the debt, or, who then legally becomes the “creditor” for the debt. Creditor can take you to court to recover the debt and then use the different enforcement methods available through the courts |
| Illusory promise | Promise unenforceable due to indefiniteness or lack where only one side is bound to perform. An ex.of this would be an agreement between a seller & buyer which states that the seller "agrees to sell all of the ice cream he wants to" to the buyer. |
| Enforcement of new consideration for a pre-existing obligation | If a duty existed prior to the promise to do it, then the promise to fulfill that duty is not valid consideration. Forcing someone to give you money, so they can get what they want. |
| Enforcement of non-compete clause | a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer). Some courts refer to these as "restrictive covenants |
| Substantive Unconscionability | Substantive unconscionability refers to the unconscionability in the terms of a contract. It means that the objective terms of the contract are UNFAIR. When contract terms are excessively oppressive or harsh. to one party vs the other. |
| Illegal Agreement | Is one that the courts will not enforce because the purpose of the agreement is to achieve an illegal end. The illegal end must result from performance of the contract itself. The classic example of such an agreement is a contract for murder. |
| Void Contract | legal but allows one party to accepts if they want to one party has the option to either enforce or terminate the agreement this contract may be cancelled by the party who LACKS capacity |
| What terms have first priority in a contract? | Express term. First one to get an agreement. |
| Executor/Administrator provision under Statute of Frauds | The executor administrator provision applies to promises of an executor of a decedent's creditors |
| Parol Evidence | is a substantive common law rule in contract cases that prevents a party to a written contract from presenting extrinsic evidence that discloses an ambiguity and clarifies it or adds to the written terms of the contract that appears to be whole. |
| Delegation | occurs when someone with authority confers upon another person the power to do a particular task. Delegation is usually a one-way street - superiors delegate authority to subordinates. |
| Donee Beneficiary | A person who is considered a non-party in a contract but still receives a benefit from the completion of the contract. A donee beneficiary could also be the third party that benefits from a donation or gift. |
| What is not required for an effective assignment? | Consideration is required. |
| Novation | the substitution of a new contract in place of an old one. |
| Accord | Release is completed by transfer of valuable consideration thtmust not be the actual performance of the obligation.Accord is the agreement to discharge the obligation and satisfaction is the legal "consideration" which binds the parties to the agreement. |
| Frustration of Purpose Doctrine | pertains to law of contracts, takes place when unexpected circumstances undermine the purpose of the contract. For the principle of frustration of purpose to apply, both parties must have been aware of the primary purpose for the contract to begin with. |
| Substantial Performance | At common law, substantial performance is an alternative principle to the perfect tender rule. It allows a court to imply a term that allows a partial or substantially similar performance to stand in for the performance specified in the contract. |
| Hardship provided for in a contract | Hardship clause is a clause in a contract that is intended to cover cases in which unforeseen events occur that fundamentally alter the equilibrium of a contract resulting in an excessive burden being placed on one of the parties involved. |
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abichavez1
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