JD NEXT EXAM STUDY GUIDE QUESTIONS AND
ANSWERS SURE A+
✔✔Yes. There are clear definitive terms in this promise, therefore considering exists
due to a bargained-for-exchange agreement. If the employee voluntarily retires, he/she
expects to receive $200 for life. - ✔✔Compare to Feinberg the following example of
different types of promises:
(a) "If you will voluntarily retire, I will give you a pension of $200 per month for life."
Is there consideration in this case?
✔✔There must be agreement on essential factors necessary to establish a contract
between the parties. - ✔✔which of the following elements is not required in order for the
doctrine of promissory estoppel to apply?
✔✔Invitations to Negotiate - ✔✔Allen's, a furniture store, advertises Belissimo Italian
leather sofas (red, black, brown, or beige) for sale at $799.
Offers or Invitations to Negotiate?
✔✔Offer - ✔✔Same as before, but in addition, circular contains the words "Out they go
Saturday; First Come First Served".
Offer or Invitation to Negotiate?
✔✔Offer - ✔✔Collector of classic novels advertises that she will pay $5 for every copy
of a Jane Austen book that may be sent to her.
Offer or Invitation to Negotiate?
✔✔Offer - ✔✔The following appeared in the Gazette, "$1000 reward will be paid by Pill
Co. to anyone who continues to suffer from back pain after using our pills according to
the directions. $10,000 is deposited with Big Bank to show our sincerity."
Offer or Invitation to Negotiate?
, ✔✔No Acceptance - ✔✔Shazza offers her services as a journalist, but states "if Jones
Publishing desires to accept this offer, the acceptance must bear the signatures of all
members of the Executive Publishing Board." Jones Publishing sends its acceptance
signed by only the Board Chairman.
✔✔No Acceptance - ✔✔Frank Abbott, a senior partner in the law firm of Abbott and
Abbott, provides a letter of employment and hands it to Darcy. The letter states that
"This contract is not binding until accepted by signature of the managing partner of
Abbott and Abbott. " Darcy signs the letter and hands it back to Frank Abbott, who also
signs.
✔✔Acceptance - ✔✔George's Restaurant is in need of repairs after a brawl broke out
between Cleaver and Darcy and offers the work to London Construction, stating "This
offer may be accepted by return mail." Pamela, the owner of London Construction
immediately takes the acceptance over to George's Restaurant personally.
✔✔No, because the consideration was adequate, and there was consensus ad idem. -
✔✔A baseball card collector found a stamp in a box of old baseball cards he purchased
at a garage sale. Not knowing anything about stamps, he listed it for $5 on Craigslist,
describing it as "a typical airline stamp." A casual stamp collector saw the ad and
purchased the stamp, not knowing in fact that it was a rare inverted airplane stamp,
worth more than $2.5 million. After the true value of the stamp was discovered and
extensive news coverage, the seller filed a lawsuit seeking damages of either
$2,499,995, or the return of the stamp.
Should the seller prevail?
✔✔Consensus ad idem - ✔✔Latin phrase signifying a "meeting of the minds", which is a
legal concept describing agreement between parties as to the exact meaning of the
terms of a contract. Thus form a valid contract, all parties must have the same
understanding of the contract being formed.
✔✔There is a contract for the Mazda because it was the car in the driveway. - ✔✔Arnie,
thinking of his Buick, agrees to sell "the car in my driveway" to Bill for $400. Bill, thinking
of Arnie's Mazda, agrees. It turns out the Mazda was in the driveway. Is there a
contract? For which car?
✔✔ When can an offer be withdrawn? - ✔✔Before the acceptance of the offeree.
✔✔FIRAC stands for - ✔✔Facts, Issues, Rules, Analysis, Conclusion
✔✔What are "the facts"? - ✔✔Who sues whom.
Why? What happened?
Procedural posture.
Tell the story.
ANSWERS SURE A+
✔✔Yes. There are clear definitive terms in this promise, therefore considering exists
due to a bargained-for-exchange agreement. If the employee voluntarily retires, he/she
expects to receive $200 for life. - ✔✔Compare to Feinberg the following example of
different types of promises:
(a) "If you will voluntarily retire, I will give you a pension of $200 per month for life."
Is there consideration in this case?
✔✔There must be agreement on essential factors necessary to establish a contract
between the parties. - ✔✔which of the following elements is not required in order for the
doctrine of promissory estoppel to apply?
✔✔Invitations to Negotiate - ✔✔Allen's, a furniture store, advertises Belissimo Italian
leather sofas (red, black, brown, or beige) for sale at $799.
Offers or Invitations to Negotiate?
✔✔Offer - ✔✔Same as before, but in addition, circular contains the words "Out they go
Saturday; First Come First Served".
Offer or Invitation to Negotiate?
✔✔Offer - ✔✔Collector of classic novels advertises that she will pay $5 for every copy
of a Jane Austen book that may be sent to her.
Offer or Invitation to Negotiate?
✔✔Offer - ✔✔The following appeared in the Gazette, "$1000 reward will be paid by Pill
Co. to anyone who continues to suffer from back pain after using our pills according to
the directions. $10,000 is deposited with Big Bank to show our sincerity."
Offer or Invitation to Negotiate?
, ✔✔No Acceptance - ✔✔Shazza offers her services as a journalist, but states "if Jones
Publishing desires to accept this offer, the acceptance must bear the signatures of all
members of the Executive Publishing Board." Jones Publishing sends its acceptance
signed by only the Board Chairman.
✔✔No Acceptance - ✔✔Frank Abbott, a senior partner in the law firm of Abbott and
Abbott, provides a letter of employment and hands it to Darcy. The letter states that
"This contract is not binding until accepted by signature of the managing partner of
Abbott and Abbott. " Darcy signs the letter and hands it back to Frank Abbott, who also
signs.
✔✔Acceptance - ✔✔George's Restaurant is in need of repairs after a brawl broke out
between Cleaver and Darcy and offers the work to London Construction, stating "This
offer may be accepted by return mail." Pamela, the owner of London Construction
immediately takes the acceptance over to George's Restaurant personally.
✔✔No, because the consideration was adequate, and there was consensus ad idem. -
✔✔A baseball card collector found a stamp in a box of old baseball cards he purchased
at a garage sale. Not knowing anything about stamps, he listed it for $5 on Craigslist,
describing it as "a typical airline stamp." A casual stamp collector saw the ad and
purchased the stamp, not knowing in fact that it was a rare inverted airplane stamp,
worth more than $2.5 million. After the true value of the stamp was discovered and
extensive news coverage, the seller filed a lawsuit seeking damages of either
$2,499,995, or the return of the stamp.
Should the seller prevail?
✔✔Consensus ad idem - ✔✔Latin phrase signifying a "meeting of the minds", which is a
legal concept describing agreement between parties as to the exact meaning of the
terms of a contract. Thus form a valid contract, all parties must have the same
understanding of the contract being formed.
✔✔There is a contract for the Mazda because it was the car in the driveway. - ✔✔Arnie,
thinking of his Buick, agrees to sell "the car in my driveway" to Bill for $400. Bill, thinking
of Arnie's Mazda, agrees. It turns out the Mazda was in the driveway. Is there a
contract? For which car?
✔✔ When can an offer be withdrawn? - ✔✔Before the acceptance of the offeree.
✔✔FIRAC stands for - ✔✔Facts, Issues, Rules, Analysis, Conclusion
✔✔What are "the facts"? - ✔✔Who sues whom.
Why? What happened?
Procedural posture.
Tell the story.
