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5 Written Questions

5 Matching Questions

  1. Force Majeure
  2. Covenants not to Compete
  3. Statute of Frauds Contracts
  4. Void Contract
  5. Under the UCC
  1. a One the courts will not honor, & neither party is obligated to perform under that agreement
  2. b Statutes requiring certain contracts to be in writing
  3. c Clause in a international contract that excuses performance in the event of war, embargo, or other generally unforeseeable events
  4. d Promises to protect employers & buyers from loss of goodwill through employee or seller competition. (ex 253)
  5. e one form of option makes the offer irrevocable, even without the offeree's payment

5 Multiple Choice Questions

  1. An agreement (accord) to pay a certain amount, the payment of which constitutes full payment (satisfaction) of that debt.
  2. Occurs when a party is physically forced into a contract or deprived of a meaningful choice when decided whether to enter into a contract.
  3. UCC version of impossibility. Excuses performance if the basic assumptions the parties made when they entered the contract have changed.
  4. Extrinsic evidence regarding a contract
  5. One in which both parties promise to perform certain things

5 True/False Questions

  1. Acceptance by Stipulated MeansThe offeree's positive response to the offeror's proposed contract, & only persons to whom the offer is made have the power of acceptance

          

  2. 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

          

  3. Under Common Law, optionscan't be revoked

          

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

          

  5. UCC vs. CISGCISG follows common law mirror image rule & not the UCC "battle of the forms" modification exception, CISG also requires the presence of a price for an offer to be definite enough to be valid, Merchant's offers exist under CISG but their validity is not subject to time limitations, as w/ the UCC 3 month limit.

          

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