BLAW 3391 Final Exam Questions With Verified Answers 100% Solved

BLAW 3391 Final Exam Questions With Verified Answers 100% Solved Contract - answer"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." Covenant not to complete - answerrestrict what an employee may do after leaving a company, and they often dictate where, when, and with whom an employee may work Four elements needed for a contract: - answerAgreement, the consideration, contractual capacity, and legal object Consideration - answerbargained-for exchange or what each party gets in exchange for his or per promise under the contract Lack of genuine assent - answerentered into by both parties freely, but offeror takes acceptance through fraud, duress, undue influence, or misrepresentation Two defenses of a contract: - answerLack of genuine assent, and lacks proper form Two sources of contract law: - answerCase law and Uniform Commercial code (UCC) Uniform Commercial Code - answerArticle 2 deals with contracts for the sale of goods Bilateral - answera Promise + a Promise Unilateral - answera Promise + a Requested action Express contracts - answerall clearly set forth in either written or spoken words Implied contracts - answerarise not from words but from the conduct of the parties Three conditions for implied or implied-in-fact: - answerplaintiff provided property or service to defendant; plaintiff expected to be paid with seasonal person in position of defendant expected to be paid; and defendant had opportunity to reject the property or service, but didn't Quasi- contracts - answerimplied-in-law contracts: prevent one party from being unjustly enriched at the expense of another; contractual obligations on one of the parties, as if in a contract Valid contract - answercontains all the legal elements and will be enforced