NAME: ________________________

BUS 215: Exam 2 Test

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5 Written Questions

5 Matching Questions

  1. Mistake of Law
  2. Quasi Contract
  3. Risk of Loss
  4. Outward Manifestation and Present Contractual Intent
  5. Common Carriers
  1. a Where a court will create a contract to prevent an unjust enrichment
  2. b Anything that can transport something from point A to point B
  3. c Who owns title and when does title transfer?
  4. d Where a defendant is under the mistake and belief by someone under a position that would be expected to know the law, such as a lawyer, police officer, or judge
  5. e The intent or desire to deal

5 Multiple Choice Questions

  1. Where both parties agree to disaffirm the original contract
  2. 1. Of law
    2. Of fact
  3. The one to whom the promise has been made
  4. Only needs quantity terms (not full QTIPS)
  5. Same time

5 True/False Questions

  1. Implied Warranties1. Fitness for a Particular Purpose (FFPP)
    2. Merchantability


  2. Unilateral ContractIf the non-mistaken party knew or should have known as a reasonable, prudent person of the mistake, then ___ is a valid defense


  3. Detrimental RelianceThe good is what the good is expected to be


  4. Unilateral MistakeOnce the specified time has passed, the offer is no longer avaliable


  5. Main Purpose DoctrineDEBT OF ANOTHER
    The party answering for the debt of another must benefit from that answering - without the benefit, such action is seen as a gift or donation


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