5 Written questions
5 Matching questions
- The adult - responsibility party
- Legal insanity
- Blue Pencil
- Unilateral Mistake
- 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 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
- c editing from a legal perspective. blue is nice and soothing, change the facts to reasonable ones.
- d Virtually never used. 1) one party makes a promise and the other party knew or should have known the mistake. 2) The mistake was so clerical or math error that is not the result of gross negligence. 3) the mistake is so serious that enforcing the contract would be unconscionable.
- e person must be incapable of understanding or comprehending the nature of the transaction.
5 Multiple choice questions
- neither party can sue for nonperformance. even if part of the contract has been performed the court will leave party where they found them
- contract will fail for lack of consideration when one party promises to perform an act they are already bound to perform
- who may enter into a contract
- is required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.
- 1) sale 2) lease/rent 3) mortgage
5 True/False questions
If fraud, must have 4 things → basically any writing can be introduced. must be signed by the defendant.
Court may... (Uncon. Con.) → reshape the contract to eliminate the unreasonable portion or refuse to enforce the contract
Consideration → rendered before the promisor's promise was made - not valid consideration - not bargained for
Mutual Mistake → both parties are mistaken regarding a material fact - important to the subject matter of the contract
Statute of Frauds → is required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.