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5 Written questions

5 Matching questions

  1. Court may... (Uncon. Con.)
  2. Pre-existing duty rule - if sale of goods
  3. Mental Incompetence
  4. Bargained for exchange
  5. Competent party
  1. 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.
  2. b no need for consideration if done in good faith
  3. c courts really saying they will not enforce gift promises
  4. d reshape the contract to eliminate the unreasonable portion or refuse to enforce the contract
  5. 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. 1) both sides must give something of value 2) there must be a bargained for exchange
  2. minors can disaffirm contracts
  3. 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)
  4. editing from a legal perspective. blue is nice and soothing, change the facts to reasonable ones.
  5. defendant needs to sign it the only one who needs to sign.

5 True/False questions

  1. The adult - responsibility partymust 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


  2. Statute of Frauds Enforceable :Certain contracts must be in writing to be enforceable


  3. 3 Types of Real EstateCertain contracts must be in writing to be enforceable


  4. Pre-existing duty ruleperson must be incapable of understanding or comprehending the nature of the transaction.


  5. Legal ValuePromisor receives a legal benefit or the promisee suffers a legal detriment


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