TAMU-Swim MGMT 209 questions with correct answers

Contract CORRECT ANSWER A legal agreement of the parties to do something not obligated to do or to refrain from doing something legally entitled to do. ____ consist of a promise, but not all promises are ___. (promises-manifestation of intent to do or not do something) Standard CORRECT ANSWER Apparent intention of a party to enter into a contract is determined by the objective, outward manifestation of his or her assent as it would be interpreted by a reasonable person, rather than by that party's secret subjective intentions. What would a reasonable person under like situations mean? Objective Factors include: 1). Conduct of the party 2). The words spoken or written by the party 3). The circumstances surrounding the transactions Contracts will be judged by the Objective Standard Objective Standard CORRECT ANSWER The apparent intention of the parties to a contract is determined by what a reasonable person would have done in a similar situation. Express v. Implied Contract CORRECT ANSWER Type