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5 Written questions

5 Matching questions

  1. Common Law Statute of Frauds
  2. Duress
  3. Age Capacity
  4. Merchant's Firm Offer
  5. Point & Click
  1. a List of types of contracts required to be in writing under most state laws: Contracts for the Sale of Real Property (sales, certain leases, liens, mortgages, & easements) Contracts That Can't be Performed in One Year Contracts to Pay the Debt of Another
  2. b parties to the contract must be at least the age of the majority (most states, 18). Before the time a party reaches the age of capacity, his or her contracts are voidable.
  3. c E-commerce. (internet)
  4. d the offer must be made by a merchant, put in some form of record, & signed by the merchant. If these requirements are met, the merchant must hold the offer open for a definite time period (no longer than 3 months).
  5. e Occurs when a party is physically forced into a contract or deprived of a meaningful choice when decided whether to enter into a contract.

5 Multiple choice questions

  1. as if
  2. These contracts are credit or loan contracts that charge interest in excess of the state's limits for interest or finance charges
  3. Clause in a international contract that excuses performance in the event of war, embargo, or other generally unforeseeable events
  4. contract that can be unenforceable at the election of one of the parties i.e. voidable contracts give one party the option disaffirming the contract.
  5. the addition of terms in the counteroffer doesn't result in a rejection; there will still be a contract if there is a clear intent to contract, but the additional terms will not be a part of the contract. (Ex 232)

5 True/False questions

  1. CISG (United Nations Convention on Contracts for the International Sale of Goods)Ex: If Alan agreed to sell his land to Berth under an oral contract & Bertha has paid, has the deed, & had moved in, Alan can't use the statute of frauds to remove Bertha & get the land back


  2. Contract DefenseClause in a international contract that excuses performance in the event of war, embargo, or other generally unforeseeable events


  3. Unconscionable ContractOf a minor allows the minor to choose not to honor the contract, in which case the other party to the contract will have no remedy. Exceptions to minor contract rules: Student loan contracts are enforceable


  4. Commercial ImpracticabilityUCC version of impossibility. Excuses performance if the basic assumptions the parties made when they entered the contract have changed.


  5. Limitations:Occurs when the offeror notified the offeree that the offer is no longer good.


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