Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Remove Ads
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Contract1L Mod 11-12

Contracts 1L Things to Know Mod. 11-12

What are conditions? They essentially are promise modifiers.
Define CONDITION PRECEDENT. Where an event MUST occur before a duty matures and becomes performable.
Define CONDITION CONCURRENT. An event that must occur at the same moment the duty is being performed. A simultaneous occurrence.
Define CONDITION SUBSEQUENT. An event that will occur after the duty has matured and become performable. IF the event dos not occur then the duty will be discharged.
What are 2 types of conditions. Express Conditions and Constructive Conditions.
What are the 3 kinds of conditions? Condition Precedent, condition concurrent and condition subsequent.
Explain a Simple or True Condition. An event outside the control of either party.
Are express conditions always expressed in a contract? Per Prof. Moy-YES
Discuss Promise and Covenant. An event in which one or both partied has some control over the occurrence of the event.
Define CONSTRUCTIVE CONDITIONS. Are conditions that we interpret from the relative performances of the parties.
How do we identify the constructive condition? One parties' performance precedes the others; one parties' performance takes longer than the other; if the performances are simultaneous and instantaneous these are ex. of constructive conditions.
What does it mean to voluntarily EXCUSE a condition? Where the party entitled to the condition could either waive or be estopped from requiring.
What does it mean to Waiver. This is the relenquishment of a right.
What does it mean to be estopped? The party entitled to the condition says they will not require the condition; AND the other party changes position as a result of it.
What are the 3 ways to FORCE "excuse of a condition?" Failure to cooperate, Prevention and Anticipatory Repudiation.
What does "failure to cooperate" mean re: excusing conditions? Where the party entitled to the condition fails to cooperate in the occurrence of the condition. THAT MEANS THE CONDITION IS EXCUSED-WE TAKE AWAY THE CONDITION.
What does "prevention" mean re: excusing conditions? Intentionally prevent the performance (not in good faith) of the event or occurrence: THAT MEANS THE CONDITION IS EXCUSED.
What does "anticipatory repudiation" mean re: excusing conditions? Where the party entitled to the condition repudiates before the event is to occur. Excuses the condition and that person is immediately liable for breach.
There are 2 ways to repudiate-What are they? EXPRESS-tell the other party and CONDUCT-prospective inability to perform the contract.
What are 3 ways to satisfy a condition? Complete satisfaction, Substantial Satisfaction or Doctrine of Divisibility.
Discuss Complete Satisfaction. For any express condition-IF there is an express condition that the parties write into the contract-IT MUST HAPPEN IN ORDER TO PROCEED.
Discuss Substantial Satisfaction. Substantial completion of the condition will trigger the obligation of the other party.
What is the essence of THE DOCTRINE OF DIVISIBILITY? Satisfying conditions in its divisible parts.
What is a CONDITION? A condition is an act or and event (other than lapse of time) that unless it is excused, affects a duty to render a promised performance.
Can a "lapse of time" be treated as a condition? No, because it is looked at as an event certain to occur.
What 2 ways can conditions be classified? Based on time and based on the way the condition arises.
Are express conditions agreements created by the parties? YES
Are constructive conditions imposed by law to do justice? YES
Can you breach a condition? NO
Can you breach a promise? YES
What does it means if a contract is VOID? The contract has no legal effect thus, really isn't a contract at all.
What is a mental infirmity? A mental weakness cause by defect (mental illness)
What is a promissory note? A unconditional written promise signed by the maker to pay, totally, a certain amount of money to a designated person or bearer.
Disaffirmance means what? To repudiate or revoke consent.
What is ratification? The successful surrender of one's power of avoidance.
What is STATUS QUO ANTE? The situation that existed before something else (being discussed) occurred.
What is the Doctrine of Respondent Superior? "Let the supervisor make answer." Holds the principal liable for the agent's wrongful act committed within the scope of employment or agency.
What are necessaries? Items and things that are required for living (i.e. food, shelter, clothes, etc).
Name two classes of persons whose contractual capacity is limited. Infants and Persons suffering from mental infirmity.
Discuss Infancy. At common law, a person remained an infant until the age of 21. Most jurisdictions have set the age of majority at 18.
When does Infancy end? It is commonly held that one's infancy ends at the very first moment of the day preceding their 18th birthday.
Can an adult party to a transaction avoid the contract on the ground of the others infancy. NO!
What happens after the infant has exercised the power to avoid the contract? The transaction is treated for many purposes as if it were void from the beginning.
Does an infant has no power to grant an irrevocable discharge? NO
TRUE OR FALSE? An infant may disaffirm a contract at any time prior to ratification. TRUE!!!!
Discuss Express Ratification. A contract can be explicitly ratified, unless a statute indicates otherwise, an express ratification can be oral. b. Contracts not yet performed by the former infant:
Discuss Ratification by Conduct. Ratification by failure to make a timely disaffirmance, may be considered a kind of ratification by conduct, at least if inaction is deemed conduct.
Are infants liable for their torts? yes, Infants are liable for their torts.
What are the three kinds of problems arise from the interplay of tort and contract liability in cases involving infants? Infants' Torts Stemming From Contracts, False Representations by the Infant and Torts and Agency Relationships.
Discuss UNDUE INFLUENCE. Undue influence is a concept that courts of equity originated as a ground for setting aside a transaction that a dominant party had imposed on a subservient party.
Name the 2 broad cases where we will see undue influences. 1) One party uses a dominant psychological position to induce a subservient party and 2) One party uses a position of trust and confidence to unfairly persuade` the other into a transaction.
Where does unfair persuasion normally take place? In private.
What are the 4 elements of evidence sufficient to create a circumstantial case on undue influence? Facts showing the susceptibility of the party influenced; evidence of the opportunity to exercise undue influence; evidence of a disposition to exercise undue influence; evidence must show the unnatural nature of the transaction.
Is it "OK" for attorneys to contract with their clients outside of the respective legal services? YES (Although it is not advisable, a lawyer may also contract with a client with respect to matters not involving legal services, or in addition to legal services.)
Discuss Attorney-Client Contracts and the attorney's fiduciary duty. Because of the fiduciary duty that the lawyer owes the client, there is a heavy burden of proof on the lawyer to show that the transaction is free of undue influence.
How is OVERPERSUASION generally accomplished? List some ways? Discussion of the transaction at unusual/ inappropriate times; Demand that the business be finished at once; Emphasis on untoward consequences of delay; Multiple persuaders by the dominant side.
Give examples of confidential relationships. Husband/wife; Teacher/student; Employee/employer; Physician/patient.
Created by: Rochelle28nm