5 Written questions
5 Matching questions
- The adult - responsibility party
- Covenant not to compete
- 3 Types of Real Estate
- Statute of Frauds Enforceable :
- a 1) innocent person - justifiably ignorant of the law - purchase life insurance from an unlicensed company can still recover benefits 2) persons induced by fraud, duress, or undue influence - purchase drugs for me or i will kill you.
- b 1) sale of goods over $500 2) real estate contracts 3) contracts to pay the debt of another.
- c enforceable is reasonable with respect to 1) the line of business 2) the geographic location protected - limited to immediate region 3) the duration - shorter the more reasonable
- d 1) sale 2) lease/rent 3) mortgage
- e 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
5 Multiple choice questions
- both parties are mistaken regarding a material fact - important to the subject matter of the contract
- food, shelter, clothing, medical services, definitely. ( Quasi contract - adults get to recover). Cars, education, working tools, may depend on circumstances.
- Fraud ( you have forever to dispute this)
- who may enter into a contract
- relieve party for liability for ordinary negligence ( ONLY SCARE PEOPLE INTO NOT SUING)
5 True/False questions
Void if → 1) usury laws - lending money 2) unlicensed professionals - cant collect fees 3) contrary to public policy - any type that would create a poor public policy ( spouse kill spouse)
3 Elements of Unconscionable Contracts → 1) the parties have unequal bargaining power 2) the dominant party uses this power to enter into an unfair contract 3) the weaker party has no reasonable alternative
What is writing → basically any writing can be introduced. must be signed by the defendant.
Consideration → "Quid pro quo" - something of legal value given for a promise
Duress → 1) usury laws - lending money 2) unlicensed professionals - cant collect fees 3) contrary to public policy - any type that would create a poor public policy ( spouse kill spouse)