Blaw 243 - Exam 2 || WITH COMPLETE SOLUTIONS.
enforceable correct answers possible to enforce
- this is used when talking about contracts and if they are basically able to go through the
system and be applied
- no legal defenses against it
unenforceable correct answers - not forceable
- impossible to enforce
Cases to study: correct answers - Hamer v. Sidway
- pack 2000 v. cushman
- jamison well drilling vs. pfeifer (pg. 31 nit notes)
Contract correct answers agreement that can be enfored in court
breach of contract correct answers one party fails to perform duties that are stated under the
contract
contracts are governed by... correct answers common law except specific kinds of contracts
that legislatures have specific laws to govern
objective theory of contracts correct answers you determine whether a party had the intent to
enter a contract by outward, objective facts
- resonable person standard: intent determined based on what a reasonable person would
think
- objective facts are taken into consideration ex. what the part said when entering into the
contract
freedom on contract correct answers everyone has the right to enter a contract of their
choosing
exceptions:
- minors
- mental illness
- force to distress
- illegal subject of contract
elements of a contract correct answers -agreement
- consideration: something of value to be exchanged to support the promise
- contractual capacity: law recognizes that both parties qualify to enter into contract
- legality
both parties have to enter into a contract _______________. correct answers Voluntarily
- cant be formed as result of mistake or fraud
bilateral contract correct answers a promise is given in exchange for a promise
-ex. "ill give you a bike on friday, if you give me 200 dollars on friday"
- can be revoked at anytime UNTIL an offeree accepts offer
, unilateral contract correct answers it is a promise for an act
- contact can only be accepted by an oferees performance
- ex. contests, lotteries, (promises of money for the winner)
- can be revoked at any time BEFORE completion of act
- however if offeree has begun but not completed action, contract may still be valid
depending on the level of completion
formal contract correct answers agreement that requires specific form for its validity
- checks, drafts
- informal contract: doesnt require specific form of validity
express contract correct answers - literally the whole contract is either in oral or written
words
implied contract correct answers - not the whole contract is in oral or written words
- implied in whole: minimal interaction
- implied in part: extensive interaction can alot of times lead to implied in part because alot of
words are shared which makes it closer to an express contract but not fully
3 conditions for an implied contract correct answers 1. plaintiff provided a good or service
2. plaintiff expected payment
3. defendant failed to reject the services or property when given the opportunity
executed vs executory contract correct answers - executed: fully performed by both parties
- executory: not yet fully performed by either 1 or both parties
voidable contract correct answers some duties on the contract may be legally avoidable by
one of both parties
void contract correct answers - no contract exists
- neither party has any obligations at all
unenforceable contract correct answers a valid contract that cant be enforced by law becasue
it has legal defenses against it
enforceable contract correct answers contract that can be enforced by law bc it has legal
defenses against it
quasi contract correct answers courts impose a fictional contract on parties as if parties
entered into an actual contract
contract is considered AMBIGUOUS when: correct answers - intent cannot be determined
from language
- lacks a provision of a disputed issue
- term is susceptible to more than on interpretation
- there is uncertainty about a provision
extrinsic evidence correct answers any evidence that does not exist in the contract
enforceable correct answers possible to enforce
- this is used when talking about contracts and if they are basically able to go through the
system and be applied
- no legal defenses against it
unenforceable correct answers - not forceable
- impossible to enforce
Cases to study: correct answers - Hamer v. Sidway
- pack 2000 v. cushman
- jamison well drilling vs. pfeifer (pg. 31 nit notes)
Contract correct answers agreement that can be enfored in court
breach of contract correct answers one party fails to perform duties that are stated under the
contract
contracts are governed by... correct answers common law except specific kinds of contracts
that legislatures have specific laws to govern
objective theory of contracts correct answers you determine whether a party had the intent to
enter a contract by outward, objective facts
- resonable person standard: intent determined based on what a reasonable person would
think
- objective facts are taken into consideration ex. what the part said when entering into the
contract
freedom on contract correct answers everyone has the right to enter a contract of their
choosing
exceptions:
- minors
- mental illness
- force to distress
- illegal subject of contract
elements of a contract correct answers -agreement
- consideration: something of value to be exchanged to support the promise
- contractual capacity: law recognizes that both parties qualify to enter into contract
- legality
both parties have to enter into a contract _______________. correct answers Voluntarily
- cant be formed as result of mistake or fraud
bilateral contract correct answers a promise is given in exchange for a promise
-ex. "ill give you a bike on friday, if you give me 200 dollars on friday"
- can be revoked at anytime UNTIL an offeree accepts offer
, unilateral contract correct answers it is a promise for an act
- contact can only be accepted by an oferees performance
- ex. contests, lotteries, (promises of money for the winner)
- can be revoked at any time BEFORE completion of act
- however if offeree has begun but not completed action, contract may still be valid
depending on the level of completion
formal contract correct answers agreement that requires specific form for its validity
- checks, drafts
- informal contract: doesnt require specific form of validity
express contract correct answers - literally the whole contract is either in oral or written
words
implied contract correct answers - not the whole contract is in oral or written words
- implied in whole: minimal interaction
- implied in part: extensive interaction can alot of times lead to implied in part because alot of
words are shared which makes it closer to an express contract but not fully
3 conditions for an implied contract correct answers 1. plaintiff provided a good or service
2. plaintiff expected payment
3. defendant failed to reject the services or property when given the opportunity
executed vs executory contract correct answers - executed: fully performed by both parties
- executory: not yet fully performed by either 1 or both parties
voidable contract correct answers some duties on the contract may be legally avoidable by
one of both parties
void contract correct answers - no contract exists
- neither party has any obligations at all
unenforceable contract correct answers a valid contract that cant be enforced by law becasue
it has legal defenses against it
enforceable contract correct answers contract that can be enforced by law bc it has legal
defenses against it
quasi contract correct answers courts impose a fictional contract on parties as if parties
entered into an actual contract
contract is considered AMBIGUOUS when: correct answers - intent cannot be determined
from language
- lacks a provision of a disputed issue
- term is susceptible to more than on interpretation
- there is uncertainty about a provision
extrinsic evidence correct answers any evidence that does not exist in the contract
