BUL 4421 FAU GENDLER ACTUAL FINAL EXAMS
QUESTIONS AND ANSWERS SURE A+
✔✔Ratification by a Minor - ✔✔Once a person reaches the age of majority, he or she
may ratify, legally affirm, contracts made as a minor
✔✔Two types of ratification by a minor - ✔✔express ratification and implied ratification
✔✔Express ratification - ✔✔after reaching the age of majority the person states orally or
in writing that he or she intends to be bound by the contract entered into as a minor
✔✔implied ratification - ✔✔occurs when the former minor takes some action after
reaching the age of majority consistent with the intent to ratify the contract
✔✔Contracts of a person with limited mental capacity can be - ✔✔valid, voidable, or
void, depending on the extent of the mental incapacity.
✔✔If a person suffers from delusions that may impair his judgment but he can still
understand that he is entering into a contact and understand his obligations under the
contract, his contract is - ✔✔Valid
, ✔✔if his delusions prevent him from understanding that he is entering into a contract or
the nature and extent of his obligations under the contract - ✔✔his contract is voidable
✔✔if a person has been adjudicated insane - ✔✔contract is void
✔✔When the intoxicated person become sober, the contract can be - ✔✔ratified or
disaffirmed; however, the courts will fairly liberally interpret behavior that seems like
ratifying the contract once the intoxicated person becomes sober
✔✔If the contract is disaffirmed on the basis of intoxicated persons - ✔✔each party
must return the other to the condition he or she was in at the time they entered into the
contract.
✔✔Contracts cannot be for - ✔✔illegal purposes or require illegal acts for performance.
✔✔Any agreement to commit a crimt or tort is - ✔✔illegal, void, and unenforceable
✔✔Unconscionable contracts - ✔✔Agreement in question is so unfair that it is void of
conscience and may be unenforceable.
✔✔Unconscionable contracts require - ✔✔procedural uncoscionability and substantive
unconscionability
✔✔Procedural unconscionability - ✔✔Conditions that impair one's ability to understand
contract: tiny, hard-to-read-print, technical jargon, inability for time to read contract and
ask questions; adhesion contracts
✔✔Substantive unconscionability - ✔✔When an agreement is overly harsh or lopsided,,
large differences between cost and price, one party vastly benefits, one party has no
legal rights under contract, portion unrelated to either party's risk.
✔✔V. CHAPTER 17: Legal Assent - ✔✔V. CHAPTER 17: Legal Assent
✔✔Legal Assent - ✔✔Offer and acceptance; both parties agree to do the same thing.
✔✔Legal Assent is a promise - ✔✔courts will require parties to obey
✔✔Without it, the contract may be - ✔✔*voidable,* a circumstance that can cost a
business large profits when the transaction is significant.
✔✔A voidable contract can be - ✔✔*rescinded,* or canceled; permitting the person who
canceled the contract to require the return of everything she gave the other party
✔✔rules of rescission - ✔✔
QUESTIONS AND ANSWERS SURE A+
✔✔Ratification by a Minor - ✔✔Once a person reaches the age of majority, he or she
may ratify, legally affirm, contracts made as a minor
✔✔Two types of ratification by a minor - ✔✔express ratification and implied ratification
✔✔Express ratification - ✔✔after reaching the age of majority the person states orally or
in writing that he or she intends to be bound by the contract entered into as a minor
✔✔implied ratification - ✔✔occurs when the former minor takes some action after
reaching the age of majority consistent with the intent to ratify the contract
✔✔Contracts of a person with limited mental capacity can be - ✔✔valid, voidable, or
void, depending on the extent of the mental incapacity.
✔✔If a person suffers from delusions that may impair his judgment but he can still
understand that he is entering into a contact and understand his obligations under the
contract, his contract is - ✔✔Valid
, ✔✔if his delusions prevent him from understanding that he is entering into a contract or
the nature and extent of his obligations under the contract - ✔✔his contract is voidable
✔✔if a person has been adjudicated insane - ✔✔contract is void
✔✔When the intoxicated person become sober, the contract can be - ✔✔ratified or
disaffirmed; however, the courts will fairly liberally interpret behavior that seems like
ratifying the contract once the intoxicated person becomes sober
✔✔If the contract is disaffirmed on the basis of intoxicated persons - ✔✔each party
must return the other to the condition he or she was in at the time they entered into the
contract.
✔✔Contracts cannot be for - ✔✔illegal purposes or require illegal acts for performance.
✔✔Any agreement to commit a crimt or tort is - ✔✔illegal, void, and unenforceable
✔✔Unconscionable contracts - ✔✔Agreement in question is so unfair that it is void of
conscience and may be unenforceable.
✔✔Unconscionable contracts require - ✔✔procedural uncoscionability and substantive
unconscionability
✔✔Procedural unconscionability - ✔✔Conditions that impair one's ability to understand
contract: tiny, hard-to-read-print, technical jargon, inability for time to read contract and
ask questions; adhesion contracts
✔✔Substantive unconscionability - ✔✔When an agreement is overly harsh or lopsided,,
large differences between cost and price, one party vastly benefits, one party has no
legal rights under contract, portion unrelated to either party's risk.
✔✔V. CHAPTER 17: Legal Assent - ✔✔V. CHAPTER 17: Legal Assent
✔✔Legal Assent - ✔✔Offer and acceptance; both parties agree to do the same thing.
✔✔Legal Assent is a promise - ✔✔courts will require parties to obey
✔✔Without it, the contract may be - ✔✔*voidable,* a circumstance that can cost a
business large profits when the transaction is significant.
✔✔A voidable contract can be - ✔✔*rescinded,* or canceled; permitting the person who
canceled the contract to require the return of everything she gave the other party
✔✔rules of rescission - ✔✔
