Term
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Definition
Express
Implied
Bilateral
Unilateral |
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Term
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Definition
Terms implied by actions.
Ex: sitting down in a restaurant |
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Term
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Definition
Terms communicated in detail.
Can be oral or written. |
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Term
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Definition
| a promise exchanged for a promise |
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Term
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Definition
| a promise exchanged for performance |
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Term
| Name 4 ways someone's ability to Consent to a Contract can be affected |
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Definition
Undue Influence
Mutual Mistake
Duress
Fraud |
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Term
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Definition
| Unfair influence of a susceptible individual. Relationship of trust and confidence or dominance. Unfair persuasion (doctor, caregiver, attorney) |
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Term
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Definition
| The mistake relates to a basic assumption on which the contract was made. The mistake has a material effect on the agreed-upon exchange. The party adversely affected by the mistake does not bear the risk of the mistake. (“As-is” agreements) |
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Term
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Definition
| Form of COERCION. Contract induced by improper THREAT. Threat leaves the party no reasonable alternative but to enter or modify a contract. Threat can be economic or physical |
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Term
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Definition
| misrepresentation committed knowingly, with the intent to deceive. |
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Term
| List 3 ways a person's Capacity to negotiate a contract could be affected |
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Definition
Minor
Mental Impairment
Intoxication |
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Term
| Describe the protected class Minor with respect to contracts |
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Definition
| have the right to revoke contracts at any time in any way. Under the age of 18 an exception can be an emancipated minor (terminated parental control: evidenced by own household, financial independence and/or married). For minors the trend is to reimburse the minor for the depreciated value where damage was intentional. Minors must pay reasonable value of necessary items (medical, housing, food). As a practical matter, parents are liable for the support of their children. |
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Term
| Describe the protected class Mentally Impaired with respect to contracts |
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Definition
Can't negotiate in their own best interest.
If found mentally imparied by court prior to contract, the contract is void.
If found mentally impared after contract, then contract is voidable.
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Term
| Describe the protected class Intoxicated with respect to Capacity to contract |
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Definition
| Must be so extreme that the person did not understand the nature of the transaction. |
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Term
| List 3 elements of a contract |
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Definition
Offer
Acceptance
Performance |
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Term
| list 4 conditions necessary to have an Offer |
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Definition
Must clearly communicate that you intend to be bound
Must have clear, detailed terms
Must be communicated to the Offeree
Must be a Bargain for Exchange |
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Term
| Define bargain for exchange |
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Definition
| There was a bargain for the exchange. Each party has to be involved in the negotiation. Can’t just drop something on someone and say now you owe me. |
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Term
| Define communicated to Offeree with respect to contracts |
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Definition
| Must be communicated to the Offeree by the Offeror. An example of something that isn’t an offer is if an Offeror tells his friends that he is going to make an offer to someone else and is writing it up. That friend then goes to the other person and tells her that Offeror is going to make her an offer of _____ amount. The other person cannot accept this as a true offer because it wasn’t communicated by the Offeror to the Offeree, but by a third party. |
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Term
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Definition
| something of legal value that is exchanged for something else of legal value. Can be money, an item, the right to do something or not do something. |
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Term
| List 3 things that do not qualify as Consideration |
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Definition
Past Consideration
Pre-Existing Duty
Illusory Promise |
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Term
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Definition
| when a promise is made in return for events or actions that already took place. Example: you were a good employee this year, I’ll give you a bonus at Christmas. This is a gift, work already done and compensated. |
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Term
| Certain and definite terms: |
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Definition
| Must be certain and definite terms. Two reasons terms must be certain and definite. 1 to ensure that both parties knew what they were agreeing to and 2. So a court can understand what was agreed to and can enforce the contract. |
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Term
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Definition
| Each party gives something of LEGAL value. Give up something you have the legal right to do or give. Such as a release of claims (giving up the right to sue). Do something you would otherwise not be required to do. |
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Term
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Definition
| the person who makes the offer |
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Term
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Definition
| the person who receives the offer |
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Term
| Exception to Consideration Requirement |
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Definition
| Exception to consideration requirement: Promissory Estoppel Exception to consideration from both parties requirement Conditions Clear and definite promise Promisor should have expected promise to rely on the promise Promisee reasonably relied on the promise by acting or refraining from some act. Promisee’s reliance was substantial and resulted in substantial detriment. Enforcement of promise needed to avoid injustice. Example: rich uncle offers you a new car. You sell your old car and he doesn’t hold up his end. Now you can’t go to work |
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Term
| Exception to Consideration Requirement |
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Definition
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Term
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Definition
| Exception to consideration from both parties requirement Conditions Clear and definite promise Promisor should have expected promise to rely on the promise Promisee reasonably relied on the promise by acting or refraining from some act. Promisee’s reliance was substantial and resulted in substantial detriment. Enforcement of promise needed to avoid injustice. Example: rich uncle offers you a new car. You sell your old car and he doesn’t hold up his end. Now you can’t go to work |
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Term
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Definition
Written
Oral
Silence
Performance |
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Term
| Define acceptance by silence |
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Definition
| Took the benefit of a service or product. Had the opportunity to reject. Knew the Offeror expected to be paid |
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Term
| when is performance acceptance? |
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Definition
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Term
| List 9 ways to revoke a contract |
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Definition
Withdraw
Object
Counter
Decline
Mutual Mistake
Unilateral Mistake
Death
Insanity
Destruction of Subject Matter |
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Term
| List 2 exceptions to the right to revoke a contract |
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Definition
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Term
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Definition
| Consideration given for the Offeror giving up the right to cancel the contract. |
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Term
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Definition
| Made by an Offeror who is a merchant. Must be in writing and signed, Must give assurances that the offer will be kept open. If no time-frame given in the written Offer, then time-frame is 3 months. |
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Term
| General Rule of Advertisements: |
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Definition
Ads are usually only treated as invitations to deal or negotiate
Exception: when detailed terms and performance requirement |
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Term
| Conditions necessary for a Noncompetition Clause to be legal |
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Definition
a. Clause must serve a legitimate business purpose.
b. The restriction on competition must be reasonable in time, geographic area and scope.
c. The noncompetition clause should not impose an undue hardship. |
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Term
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Definition
| Contract must be in writing to avoid fraud |
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Term
| List 6 contracts that must be in writing under the Statute of Fraud |
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Definition
| a. Collateral (a person promises to pay the obligation of another) b. Sale of Real Estate c. Can’t be performed in less than 1 Year d. Sale of goods over $500 (under UCC – merchants) e. Executor liable for the debt of an estate f. Marriage (like prenup) |
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Term
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Definition
| failure to perform when due |
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Term
| List 5 remedies for Breach |
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Definition
Compensatory
Consequential
Punitive
Nominal
Performance |
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Term
| Define Compensatory Damages |
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Definition
| (designed to make party whole, restore them to the place they were before the contract) reimbursement for whatever performance the injured party did within the contract. Ex: if a party paid $10,000 for a printer that was not delivered, they would be due the return of their $10,000. Ex 2: if a party had a promise of a printer delivery for $10,000 and the other party breached, and the first party had to go out and buy an emergency printer for $15,000 the person who didn’t deliver may be responsible for the additional $5,000. |
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Term
| Define Consequential Damages |
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Definition
| (designed to make party whole, restore them to the place they were before the contract) reimbursement for losses caused by the other parties breach outside the terms of the contract. Ex: a party breaches a contract to supply a printer. They could be responsible for a large printing job lost because they didn’t deliver the printer. |
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Term
| Define Punitive Damages (for contracts) |
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Definition
| (designed to punish and make an example of the defendant. Must prove defendants actions were reckless or negligent) |
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Term
| Define Nominal Damages (for contracts) |
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Definition
| small reimbursement for technical breach where the important parts of the contract were performed. Most courts do not bother with these. |
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Term
| Explain why courts don't like to force performance for Breach |
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Definition
| not popular because courts don’t like to force people to do things and they don’t have the resources to manage and track that what they ordered is done. |
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Term
| When will a court force performance for Breach |
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Definition
| when the subject matter of the contract is unique. |
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Term
| 2 conditions needed for criminal liability |
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Definition
performance of an illegal act
state of mind |
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Term
| define performance of an illegal act |
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Definition
can be by commission (doing)
or omission (not doing) |
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Term
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Definition
a crime punishable by a fine or confinement of up to one year.
DUI, Trespassing, disorderly conduct |
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Term
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Definition
serious crimes punishable by 1+ years imprisonment.
Murder, rape, armed robbery |
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Term
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Definition
Larceny
Robbery
Burglary
Public Order Crimes
White-collar Crime |
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Term
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Definition
| when a person wrongfully or fraudulently takes another person’s property. (like a pickpocket) |
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Term
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Definition
| taking property by means of force or intimidation |
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Term
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Definition
| breaking and entering into a dwelling with the intent to commit a felony. |
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Term
| define public order crimes |
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Definition
| i. Society outlaws certain activities based on morals and values |
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Term
| list 3 public order crimes |
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Definition
prostitution
gambling
streaking |
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Term
| define white-collar crime |
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Definition
Committed by individuals or corporations to attain a business or personal advantage
Nonviolent |
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Term
| list 3 types of white-collar crime |
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Definition
embezzlement
money laundering
insider trading |
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Term
| List 3 Constitutional Protections |
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Definition
4th Amendment
5th Amendment
8th Amendment |
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Term
| 4th Amendment Protects against |
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Definition
| unreasonable search and seizure. Must balance the governments need to gather evidence with the reasonable expectation of privacy of citizens. |
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Term
| 5th Amendment protects against |
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Definition
i. Double Jeopardy: protects people from being tried twice for the same offense. Once acquitted of a particular crime, the defendant cannot be retried for the same crime.
ii. Self-incrimination: no person shall be compelled in a criminal case to be a witness against him or herself. |
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Term
| 8th Amendment protects against |
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Definition
| cruel and unusual punishment |
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Term
| List three classes of people who lack the capacity to form criminal intent |
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Definition
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Term
| Can I minor under the age of 18 be put to death? |
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Definition
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