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5 Written questions

5 Matching questions

  1. Auction with Reserve
  2. Merchantibility
  3. Marriage
  4. Defenses (UCC)
  5. Unilateral Contract
  1. a 1. Statutes of Fraud
    2. Discharged Performance (waiver, modification, etc.)
  2. b The good is what the good is expected to be
  3. c Hold people accountable for contracts based on the belief that marriage was going to take place
  4. d Contracts where there is a promise in exchange for an act
  5. e The auctioneer reserves the right to remove or take back the item at any time prior to acceptance

5 Multiple choice questions

  1. The consent of all three parties - the two original parties and the substituting party - the substitute is held responsible
  2. QTIPS
  3. Where one would do an action that they would not otherwise do, because of the situation at hand
  4. In order to create a valid ___, one must have offer, acceptance and consideration
  5. Gives rise to whose time for performance is due; look to the terms of the contract for who is to perform and when

5 True/False questions

  1. SPMFRS: Sufficient Memorandum
    P: Partial Performance
    M: Main Purpose Doctrine
    F:Full Performance
    R: Receipt of the Goods or Funds


  2. Statute of FraudsWhere a defendant is under the mistake and belief by someone under a position that would be expected to know the law, such as a lawyer, police officer, or judge


  3. RevocationThe offeror can take back the offer, prior to acceptance or expiration


  4. Substantial PerformanceFull performance; discharged of obligations


  5. (Commercial) ImpracticabilityIt would be commercially impracticable for the breaching party to do the obligation that they are required to do under the contract