Duty owed to the promisor Study guides, Revision notes & Summaries
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BUL4421 Final Gendler Exam 2024 Questions and Answers 100% Accurate!
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BUL4421 Final Gendler Exam 2024 QuestioContract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to perform or refrain from performing some present or future act. 
 
Contract Law - ANSWERSReflects what promises/commitments our society believes should be legally binding. 
 
Breach of contract - ANSWERSThe failure, without legal excuse, of a ...
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BUL4421 Final Gendler Exam 2024 Questions & Answers 100% Accurate!!
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Contract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to perform or refrain from performing some present or future act. 
 
Contract Law - ANSWERSReflects what promises/commitments our society believes should be legally binding. 
 
Breach of contract - ANSWERSThe failure, without legal excuse, of a promisor to perform the obligations of ...
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BUL4421 Final Gendler Exam 2024 Questions And Answers 100% Correct!
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Contract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to perform or refrain from performing some present or future act.Contract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to ...
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Final Exam (BCOR 2301) 2023 WITH COMPLETE SOLUTIONS
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Consideration 
The value given in return for a promise or performance in a contractual agreement. 
 
1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 
 
2. There must be a BARGAINED-FOR-EXCHANGE. 
 
 
 
Legal Sufficient Value 
Something of value in the eyes of the law; may be: 
 
- Promise [to do something] 
e.g. pay supplier upon receiving goods 
 
- Performance [of an action otherwise not obligated to] 
e.g. providing acct. services 
 
- Forbearance [refraini...
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Business Law Chapter 10 Question with complete solution 2023
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Business Law Chapter 10 Question with complete solution 2023assignee 
the party to whom the assignment is made 
 
 
 
assignment 
a means whereby one party in a contract conveys rights to another person who is not an original party to the contract 
 
 
 
assignor 
the party making the assignment 
 
 
 
anticipatory breach 
prior to the time performance is due on a contract, one party makes a clear and unequivocal statement that they will not perform; aka repuditation 
 
 
 
beneficiary 
recipien...
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Final Exam (BCOR 2301) 2023 Questions and Answers
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Final Exam (BCOR 2301) 2023 Questions and Answers 
 
Consideration 
The value given in return for a promise or performance in a contractual agreement. 
 
1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 
 
2. There must be a BARGAINED-FOR-EXCHANGE. 
Legal Sufficient Value 
Something of value in the eyes of the law; may be: 
 
- Promise [to do something] 
e.g. pay supplier upon receiving goods 
 
- Performance [of an action otherwise not obligated to] 
e.g. prov...
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WGU D216 2022 With Complete Solutions.
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Constitutional Law 
Law as expressed in the U.S. Constitution or state constitutions. 
The U.S. Constitution is the supreme law of the land. 
State constitutions are supreme within state borders to the extent that they do not conflict with the U.S. Constitution. 
 
 
 
Statutory Law 
Statutes (including uniform laws) and ordinances enacted by federal, state, and local legislatures. 
Federal statutes may not violate the U.S. Constitution. 
State statutes and local ordinances may not violate the U...
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Contracts & Sales Missed MBE Questions and Answers 2022
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A wholesaler of bicycle chains sent a retailer the following fax on December 1: "Because of your continued loyalty as a customer, I am prepared to sell you up to 1,000 units of Bicycle Chain Model D at $7.50 per unit, a 25% discount off our original $10.00 price. This offer will remain open for 7 days." The fax lacked a full, handwritten signature, but was on the wholesaler's letterhead and had been initialed by the wholesaler's head of sales. On December 4, the wholesaler's head of sales c...
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Final Exam (BCOR 2301) 2023 Questions and Answers
- Exam (elaborations) • 17 pages • 2024
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Final Exam (BCOR 2301) 2023 Questions and Answers 
 
Consideration 
The value given in return for a promise or performance in a contractual agreement. 
 
1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 
 
2. There must be a BARGAINED-FOR-EXCHANGE. 
Legal Sufficient Value 
Something of value in the eyes of the law; may be: 
 
- Promise [to do something] 
e.g. pay supplier upon receiving goods 
 
- Performance [of an action otherwise not obligated to] 
e.g. prov...
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MBE EXAM REVIEW 2024
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MBE SUMMARY 2024 
 
 
Equitable Reformation - Where a clerical error has been made in reducing an agreement to writing, a party may bring an action in equitable reformation to have the writing reformed to correct the writing or include the omitted provision. 
 
 Lost volume seller - A seller who has enough supplies to meet the demands of their customers. 
 
 Seller can recoup the contract price of a widget when - 1) where the buyer has accepted the goods; 2) where the goods are lost or dama...
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