Term
| An acceptance is sent by stipulated means is effective when sent by dispatch. |
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Definition
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| According to the UCC, the offeror who remains silent impliedly authorizes the offeree to accept by any reasonable means of communication |
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| Freedom of contract includes the freedom to make bad bargains |
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| For a debt to be considered unliquidated the dispute about the existence or amount of the debt must be in good faith |
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| One of the primary reasons for not enforcing illegal contracts is to deter people from entering into such a grievance in the first place. |
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| Oral evidence may be introduced to help resolve ambiguities in a written contract |
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Term
| To make a third party a donee beneficiary the creation of a gift of the contracted performance to the third party must be the promisees primary purpose in contracting. |
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Term
| If an event must occur before a parties duty to perform arises it is called a condition precedent |
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Term
| Undo influence renders a contract voidable and is a ground for recission |
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Term
| Public policy can prevent the delegation of duties |
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Definition
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Term
| Oral evidence may be introduced to fill the gaps in an incomplete written contract. |
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Definition
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Term
| Persons who were not originally parties to a contract may claim some interest in it as assignees or donee beneficiaries or creditor |
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Term
| Many states treat intoxicated persons like people who lack mental capacity if at the time they enter the agreement they were so intoxicated that they were unable to understand the nature of the business at hand. |
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Definition
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Term
| If time is not of the essence of a contract the promisee must accept late performance rendered within a reasonable time of when performance was due |
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Definition
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Term
| Normally both parties to a contract are discharged when they have completely performed their contractual duties |
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Definition
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Term
| A promisor who is guilty of material breach has no right of action under the contract |
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Definition
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Term
| The destruction of items that the promisor intended to use in performing would not excuse non performance if it just made performance more difficult for the promisor |
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Definition
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Term
| In determining whether a party has given consideration, courts look at whether th promise of exchange were of equal value |
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Definition
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Term
| Forbearance from suing can never be valid consideration. |
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Term
| Contracts made by a minor are void |
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Term
| A contract of adhesion is not in violation of a public policy |
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Definition
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Term
| Certain formalities are required to create an assignment |
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Definition
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Term
| The courts of different states stand united in their views of what constitutes desirable public policy |
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Term
| Under the statute of frauds contracts for the transfer of ownership of land do not need to be in writing |
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Definition
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Term
| For a contract to be illegal on the grounds of public policy a statute or an administrative regulation must define precisely what that policy is. |
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Term
| A building that deviates slightly from the contracts specifications would not qualify as substantial performance |
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Definition
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Term
| The doctrine of substantial performance applies when a promissor willfully fails to completely perform |
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Definition
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Term
| The plaintiff in a contract action has no duty to medigate his damages because he is the injured party. |
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Definition
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Term
| The offeree may except an offer within a reasonable time by any reasonable means of communication |
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Definition
| if the offer merely suggests a method or place of communication or is silent on these points. |
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Term
| Brows wrap agreements are |
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Definition
| viewed by some courts as unenforceable. |
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Term
| All of the following are true of consideration except |
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Definition
| having a monetary value always, regardless of legal value |
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Term
| An unliquidated debt is one that |
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Definition
| involves an honest dispute about the existence or the amount of the debt |
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Term
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Definition
| performing a preexisting duty is not consideration. |
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Term
| What is the term used to describe the termination of a parents’ right |
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Definition
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Term
| Minors can disaffirm a contract unless |
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Definition
| the minor has ratified the contract upon reaching majority. |
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Term
| The means used by a offeror to communicate the offer |
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Definition
| is the impliedly authorized means for accepting unless the circumstances do not indicate otherwise |
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Term
| Given an acceptance which employs an authorized means of interpretation |
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Definition
| acceptance is not effective until dispatched. |
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Term
| Legal value bargained for and given in exchange for an act or promise is called |
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Definition
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Term
| When a contracting party has run into unforeseeable difficulties that make his/her performance impossible |
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Definition
| enforce a modification in the interest of fairness. |
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Term
| Which of the following used to enforce promises is not supported by consideration |
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Definition
| promises not to commit crimes or torts. |
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