5 Written questions
5 Matching questions
- Court may... (Uncon. Con.)
- Pre-existing duty rule - if sale of goods
- Mental Incompetence
- Bargained for exchange
- Competent party
- a is required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.
- b no need for consideration if done in good faith
- c courts really saying they will not enforce gift promises
- d reshape the contract to eliminate the unreasonable portion or refuse to enforce the contract
- e In order to prevent enforcement of the contract the person must be legally insane at time of entering into the contract
5 Multiple choice questions
- 1) both sides must give something of value 2) there must be a bargained for exchange
- minors can disaffirm contracts
- when one party takes advantage of another person's mental, physical, or emotional weakness and unduly persuades that person into a contract. Need a fiduciary type relationship - attorney, CPA, doctor, etc. (Elderly People)
- editing from a legal perspective. blue is nice and soothing, change the facts to reasonable ones.
- defendant needs to sign it the only one who needs to sign.
5 True/False questions
The adult - responsibility party → must return the minor to the status quo - i.e., as if the contract never happened. thus, any money will be returned - called the duty of restitution
Statute of Frauds Enforceable : → Certain contracts must be in writing to be enforceable
3 Types of Real Estate → Certain contracts must be in writing to be enforceable
Pre-existing duty rule → person must be incapable of understanding or comprehending the nature of the transaction.
Legal Value → Promisor receives a legal benefit or the promisee suffers a legal detriment