Answers | Latest Version | 2025/2026 |
Correct & Verified
What is required to form a valid contract?
✔✔Offer, acceptance, consideration, capacity, and lawful purpose.
When is an offer considered terminated by revocation?
✔✔When the offeree receives notice that the offer has been withdrawn.
What makes consideration legally sufficient?
✔✔A bargained-for exchange of legal value.
When does the Statute of Frauds require a writing?
✔✔For certain contracts such as land sales and agreements lasting more than one year.
What is the mailbox rule in contract law?
✔✔An acceptance is effective upon dispatch, not receipt.
When can a minor disaffirm a contract?
✔✔At any time before reaching majority or within a reasonable time after.
What is the parol evidence rule?
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,✔✔Extrinsic evidence cannot alter a final written contract.
What is a condition precedent in contracts?
✔✔An event that must occur before a duty to perform arises.
When is a contract considered void?
✔✔When it lacks legal effect from the beginning.
What distinguishes an assignment from a delegation?
✔✔Assignment transfers rights; delegation transfers duties.
What is promissory estoppel?
✔✔Enforcement of a promise based on reasonable reliance.
What is required for an effective acceptance?
✔✔It must mirror the terms of the offer and be communicated.
When is a contract discharged by impossibility?
✔✔When performance becomes objectively impossible.
What is the primary remedy for breach of contract?
✔✔Expectation damages.
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,What constitutes anticipatory repudiation?
✔✔A clear statement or act indicating intent not to perform.
When does risk of loss pass under the UCC?
✔✔Based on delivery terms or possession rules.
What makes a misrepresentation fraudulent?
✔✔Intentional false statement made to induce reliance.
What is the difference between void and voidable contracts?
✔✔Void contracts have no effect; voidable contracts may be rescinded.
What is a unilateral contract?
✔✔A contract formed by performance rather than a promise.
When does an easement run with the land?
✔✔When it benefits or burdens successive owners.
What is adverse possession?
✔✔Acquiring title through open, continuous, and hostile possession.
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, What is the rule against perpetuities?
✔✔Future interests must vest within a life in being plus 21 years.
What creates a fee simple absolute?
✔✔A grant of full ownership with no limitations.
What is a tenancy at will?
✔✔A lease that can be terminated at any time by either party.
What duty does a landowner owe to invitees?
✔✔To inspect and make premises reasonably safe.
What is strict liability?
✔✔Liability without proof of negligence or intent.
What is negligence per se?
✔✔Breach of a statute designed to protect a specific class.
What are the elements of negligence?
✔✔Duty, breach, causation, and damages.
What is proximate cause?
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