LENB professor el jourbagy test , Questions and
Answers Verified 100% Correct | Latest Update
elements of an offer: - ✔✔1. intent
2. definite and certain terms
3. communication
ways an offer can be terminated: - ✔✔1. Revocation
2. Rejection
3. Lapse of time
4. Conditional Offer
5. Operation of law
6. Death
7. Acceptance
8. Illegality
elements that demonstrate fraudulent misrepresentation - ✔✔1. false statement 2.intent to
deceive 3. justifiable reliance 4. proof of injury
6 ways to be discharged from a contract: - ✔✔1. the occurrence of a condition subsequent
or the nonhappening of a condition precedent
2. complete or substantial performance
3. material breach
4. mutual agreement
5. operation of law
, 3 factors that would make it impossible to fulfill a contract - ✔✔1.death or incapacity of an
essential party
2.destruction of unique subject matter
3.subsequent legality
4 factors that demonstrate undue influence - ✔✔1.undue enrichment
2.isolation
3.lopsided
4.rushing
offeror - ✔✔A person who makes an offer.
offeree - ✔✔A person to whom an offer is made.
objective theory of contracts - ✔✔A theory that says the intent to contract is judged by the
reasonable person standard and not by the subjective intent of the parties.
quasi contract - ✔✔court-imposed obligation to prevent unjust enrichment in the absence of
a contract
executory contract - ✔✔A contract that has not yet been fully performed.
preliminary negotiations - ✔✔request or invitation to negotiate is not an offer
auctions without reserve - ✔✔seller must accept highest bid
auction with reserve - ✔✔parties have the right to revoke any time before gavel comes
down
Answers Verified 100% Correct | Latest Update
elements of an offer: - ✔✔1. intent
2. definite and certain terms
3. communication
ways an offer can be terminated: - ✔✔1. Revocation
2. Rejection
3. Lapse of time
4. Conditional Offer
5. Operation of law
6. Death
7. Acceptance
8. Illegality
elements that demonstrate fraudulent misrepresentation - ✔✔1. false statement 2.intent to
deceive 3. justifiable reliance 4. proof of injury
6 ways to be discharged from a contract: - ✔✔1. the occurrence of a condition subsequent
or the nonhappening of a condition precedent
2. complete or substantial performance
3. material breach
4. mutual agreement
5. operation of law
, 3 factors that would make it impossible to fulfill a contract - ✔✔1.death or incapacity of an
essential party
2.destruction of unique subject matter
3.subsequent legality
4 factors that demonstrate undue influence - ✔✔1.undue enrichment
2.isolation
3.lopsided
4.rushing
offeror - ✔✔A person who makes an offer.
offeree - ✔✔A person to whom an offer is made.
objective theory of contracts - ✔✔A theory that says the intent to contract is judged by the
reasonable person standard and not by the subjective intent of the parties.
quasi contract - ✔✔court-imposed obligation to prevent unjust enrichment in the absence of
a contract
executory contract - ✔✔A contract that has not yet been fully performed.
preliminary negotiations - ✔✔request or invitation to negotiate is not an offer
auctions without reserve - ✔✔seller must accept highest bid
auction with reserve - ✔✔parties have the right to revoke any time before gavel comes
down
