BLS 342 Final Exam review
Study online at https://quizlet.com/_7o5lxs
1. 4 elements of a agreement, consideration, capacity, legality
contract
2. 2 elements of offer and acceptance
agreement
3. three elements of 1. intent to be bound
an offer 2. definitive and certain terms
3. Communication to the offeree
4. How can an offer Revocation, Rejection, Lapse of Time, Operation of Law, counter-offer, destruction
be terminated? of subject matter
5. terms of accep- intent to be bound, communication to the offeror, terms must be mirrored
tance
6. Mirror Image requires that the terms in the acceptance must exactly match the terms contained
Rule in the offer
7. Mailbox Rule acceptance of an offer becomes effective when placed in mailbox
revocation of acceptance becomes effective when received
8. 2 exceptions to promissory estoppel
requirement of contract under seal
consideration
9. Promissory the legal enforcement of an otherwise unenforceable contract due to a party's
Estoppel detrimental reliance on the contract
10. a. Do courts con- no
sider the adequa-
cy of considera-
tion?
1/9
, BLS 342 Final Exam review
Study online at https://quizlet.com/_7o5lxs
11. Preexisting Duty Can't be bound to a contract to do something they already have to do (police duty
to serve)
12. Contractual Ca- the legal ability to enter into a contractual relationship
pacity
must understand and be able to fulfill the requirements of the contract
13. capacity issues when the Court must get involved, i.e. adjudicated to be insane or intoxicated or
for void contract have a legal guardian
14. capacity issues Under the age of majority, mentally incapacitated, drunk
for voidable con-
tract
15. examples of an il- 1. Against public policy
legal object 2. Violation of a statute
3. Usury laws (interst on a loan), gambling laws
16. five causes of a Undue influence
lack of genuine duress
assent unilateral mistake
bilateral mistake
misrepresentation
17. 1. What are the a. Sale of land
five types of con- b. Prenup
tracts that must c. Goods over $500
be in writing un- d. Contracts to take someone's debt
der the Statute of e. Contracts that prevent performance within a year
Frauds?
18. What must the a. Name of parties
writing include b. Subject matter of agreement
2/9
Study online at https://quizlet.com/_7o5lxs
1. 4 elements of a agreement, consideration, capacity, legality
contract
2. 2 elements of offer and acceptance
agreement
3. three elements of 1. intent to be bound
an offer 2. definitive and certain terms
3. Communication to the offeree
4. How can an offer Revocation, Rejection, Lapse of Time, Operation of Law, counter-offer, destruction
be terminated? of subject matter
5. terms of accep- intent to be bound, communication to the offeror, terms must be mirrored
tance
6. Mirror Image requires that the terms in the acceptance must exactly match the terms contained
Rule in the offer
7. Mailbox Rule acceptance of an offer becomes effective when placed in mailbox
revocation of acceptance becomes effective when received
8. 2 exceptions to promissory estoppel
requirement of contract under seal
consideration
9. Promissory the legal enforcement of an otherwise unenforceable contract due to a party's
Estoppel detrimental reliance on the contract
10. a. Do courts con- no
sider the adequa-
cy of considera-
tion?
1/9
, BLS 342 Final Exam review
Study online at https://quizlet.com/_7o5lxs
11. Preexisting Duty Can't be bound to a contract to do something they already have to do (police duty
to serve)
12. Contractual Ca- the legal ability to enter into a contractual relationship
pacity
must understand and be able to fulfill the requirements of the contract
13. capacity issues when the Court must get involved, i.e. adjudicated to be insane or intoxicated or
for void contract have a legal guardian
14. capacity issues Under the age of majority, mentally incapacitated, drunk
for voidable con-
tract
15. examples of an il- 1. Against public policy
legal object 2. Violation of a statute
3. Usury laws (interst on a loan), gambling laws
16. five causes of a Undue influence
lack of genuine duress
assent unilateral mistake
bilateral mistake
misrepresentation
17. 1. What are the a. Sale of land
five types of con- b. Prenup
tracts that must c. Goods over $500
be in writing un- d. Contracts to take someone's debt
der the Statute of e. Contracts that prevent performance within a year
Frauds?
18. What must the a. Name of parties
writing include b. Subject matter of agreement
2/9
