BUL 2241

Contract - Answer between two or more parties that is enforceable by the court of law Elements of a contract - Answer 1. Agreement = Proper author, Proper accepts 2. Consideration = For something of legal value ( I agreed to pay 10K to paint apartment, you agreed to do it) 3. Capacity 4. Genuine assent (author of text book points it out as defense) = 5/ Voluntary coming together 5. Legal purpose - The objective of the contract must be for a legal purpose. For example, a contract for...

One person (the principal) consents to the other person (the agent) acting in his or her behalf - Answer Fiduciary Relationship A person who undertakes to act on behalf of-and primarily for the benefit of-another - Answer Fiduciary Employer and employee, principal and independent contractor, and principal and agents are examples of what kind of relationships - Answer agency relationships Formed through express consent (oral or written) or implied by conduct - Answer Agency b...

Law - Answer Body of rules of action or conduct that has binding legal force. Functions of the law - Answer 1. Keep peace. 2. Shape moral standards. 3. Promote social justice. 4. Maintain status quo 5. Facilitate orderly change 6. Facilitate planning 7. Provide a basis for compromise 8. Maximize individual freedom Natural law school - Answer Law is based on what is "correct". Emphasizes moral theory; law should be based on morals and ethics. Historical school - Answe...

When it is said that a contract made by a minor is voidable, which of the following is true? - Answer While still a minor, he or she can disaffirm the contract and return the property. A minor can choose to disaffirm a contract or can go along with it. Which of the following statements is true if a person making a contract is adjudicated incompetent by a court order? - Answer If he or she becomes competent again, he or she can ratify the contract. Upon becoming competent, an incom...

Buyer is located in Des Moines, Iowa and seller is located in Sacramento, California. The contract specifies F.O.B. Des Moines. This contract is a: Question options: -destination contract. -sale or return. -shipment contract. -sale on approval. - Answer destination contract. Ruppart Manufacturing has a contract for the sale of 100 cases of teaching supplies to Teachers Co-op, Inc. Payment of the order is to be made in installments over the next year. Ruppart Manufacturing keeps a secu...

Statute of Fraud: - Answer PURPOSE "To prevent rise of perjurious testimony regarding certain types of K's." States which contracts must be in writing to be enforceable. Types of K's that must be in writing: - Answer - Promises by executors to pay estate's debts out of their own funds - Promises to Answer for the debt or default of another - i.e. to act as surety - Promises made in consideration of Marriage. - Promises creating an interest in Land. - Promises that b...

assault - - Answer unexcused, intentional act that causes fear on a person ex Ivan threatens Jean with a gun and then shoots her. The pointing of the gun at Jean is an assault. The firing of the gun (if the bullet hits Jean) is a battery. battery - - Answer assault that results in physical contact The contact can be harmful, or it can be merely offensive (such as an unwelcome kiss). Physical injury need not occur. The contact can be made by the defendant or by some force set in mo...

body of principles that establishes the structure of a government and the relationship of the government to the people who are governed is called: - Answer a constitution The bicameral body in the U.S. government: - Answer is the national legislature or Congress Identify a true statement about the executive branch of government. - Answer It has the function of executing the laws Members of the Senate: - Answer are popularly elected for a term of six years The ban on adopt...

The degree of care required of a person is: - Answer a. that degree of care an extraordinary person would exercise under similar circumstances. b. that degree of care a reasonably prudent person would exercise under similar circumstances. <= c. that degree of care professionals exercise in similar situations. d. that degree of care the person exercised in the situation at hand. In a state that has the comparative negligence doctrine with a "50 percent" rule, a jury finds that B...