BULE EXAM 3 (ch 10) questions and
answers graded A+
CONTRACT - correct answer ✔✔An agreement, based on a promise, that can be enforced in
court.
Parties have the right to seek remedies for breach of promises/duties.
PROMISOR
PROMISEE - correct answer ✔✔A _______ declares to do/not to do a certain act. The ________
then has the right to expect or demand something will or will not happen in the future.
OBJECTIVE THEORY OF CONTRACTS
(not own secret, subjective intentions) - correct answer ✔✔Under this theory, a party's
intention to enter into a contract is judged by outward, objective facts as a reasonable person
would interpret them.
OFFEROR
OFFEREE - correct answer ✔✔The _______ is the party making the offer. The _____ is the party
to whom the offer was made.
BILATERAL CONTRACT
, (contract comes into existence the moment promises are exchanged) - correct answer ✔✔A
type of contract that arises when a promise is given in exchange for a return promise.
"a promise for a promise"
UNILATERAL CONTRACT
(revocable until accepted; accepted = substantial work has been performed) - correct answer
✔✔A contract that results when an offer can be accepted only by the offeree's performance
(the action/conduct is the acceptance)
"a promise for an act"
ACCEPTED
SUBSTATIONALLY - correct answer ✔✔In contract law, offers are normally revocable until
______.
The modern day view is that once performance of the contract has been ________ undertaken,
the offeror CANNOT revoke the offer.
EXPRESS CONTRACT - correct answer ✔✔In an ______ contract, the terms of the agreement are
explicitly stated in words - oral or written.
IMPLIED CONTRACT
answers graded A+
CONTRACT - correct answer ✔✔An agreement, based on a promise, that can be enforced in
court.
Parties have the right to seek remedies for breach of promises/duties.
PROMISOR
PROMISEE - correct answer ✔✔A _______ declares to do/not to do a certain act. The ________
then has the right to expect or demand something will or will not happen in the future.
OBJECTIVE THEORY OF CONTRACTS
(not own secret, subjective intentions) - correct answer ✔✔Under this theory, a party's
intention to enter into a contract is judged by outward, objective facts as a reasonable person
would interpret them.
OFFEROR
OFFEREE - correct answer ✔✔The _______ is the party making the offer. The _____ is the party
to whom the offer was made.
BILATERAL CONTRACT
, (contract comes into existence the moment promises are exchanged) - correct answer ✔✔A
type of contract that arises when a promise is given in exchange for a return promise.
"a promise for a promise"
UNILATERAL CONTRACT
(revocable until accepted; accepted = substantial work has been performed) - correct answer
✔✔A contract that results when an offer can be accepted only by the offeree's performance
(the action/conduct is the acceptance)
"a promise for an act"
ACCEPTED
SUBSTATIONALLY - correct answer ✔✔In contract law, offers are normally revocable until
______.
The modern day view is that once performance of the contract has been ________ undertaken,
the offeror CANNOT revoke the offer.
EXPRESS CONTRACT - correct answer ✔✔In an ______ contract, the terms of the agreement are
explicitly stated in words - oral or written.
IMPLIED CONTRACT
