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5 Written questions

5 Matching questions

  1. Agreements to rescind contracts involving transfers of LAND:
  2. Quasi Contract Qualifications
  3. Accord pg 328
  4. Absolute promises
  5. Rights that cannot be assigned/transferred pg. 322
  1. a must be evidenced by WRITING
  2. b is a contract to perform some act to satisfy an existing contractual duty
    -duty has not yet been discharged

    *once accord has been made the obligor can discharge obligation by performing either the obligation agreed to in the accord or original obligation

    *If obligor refuses to perform the accord--> obligee can bring action on the original obligation or seek a decree
  3. c promises of performance are not expressly conditioned or qualified -> must be performed or parties of promising acts will be in breach
  4. d 1) Statute/law expressly prohibits assignment of a particular right
    2) Contract is for personal services (UNLESS all that remains is a money payment)
    3) Assignment will materially change risks or duties of obligor
    four) Contract itself prohibits assignment
  5. e Party seeking recovery must show:
    1) Party conferred a benefit on the other party
    2) Party conferred the benefit w/reasonable expectation of being paid
    3) Party seeking recovery did not volunteer
    four) Party receiving benefit would be unjustly enriched by retaining the benefit without paying it

5 Multiple choice questions

  1. contract to be performed to the satisfaction of one of the parties is conditioned, and performance must actually satisfy that party

    -contracts for portraits, works of arts and tailoring
    ->only personal satisfaction of party fulfills condition unless not acting in good faith
  2. 1) Contracts involving land (sales, fixtures, leases, mortgages and easements
    -->Exceptions: partial performance, admission, promissionary estoppel

    2) Contracts that cannot be preformed within year of date of formation
    -->Exceptions: Admission, promissionary estoppel

    3) Collateral contracts -> promises to answer for the debt or duty of another
    -->Exceptions: Main purpose rule, Admission, promissionary estoppel

    four) Promises made in consideration of marriage

    5) UCC-> contracts for sale of goods 500 dollars+
    -->Exceptions: oral contracts for sale of customized goods ma be enforced, admission (quantity), partial performance, contracts between merchants may be enforced, detrimental reliance (321)
  3. delegator is still liable to obligee
  4. -SP is granted to a buyer in a contract for sale of land
    -every parcel of land is unique ->monetary damages don't suffice!
    -only when SP is unavailable money will be awarded instead
  5. only mistake that may allow a contract to be avoided/canceled

5 True/False questions

  1. Liquidated Damages-"fixed"/determined/settled, certain dollar amount...stipulated in contract
    -agreed by both parties
    -paid in event of breach
    -must be reasonable estimate of damages that would result from a breach
    -normally enforceable
    -usually in construction contracts

          

  2. Subjective impossibilitysee objective impossibility*

    -excuses do not discharge contract
    -nonperforming party is held in breach of contract

          

  3. Restitution is not limited to recession cases->only unless it is an expert opinion

          

  4. Parties in fiduciary relationship rosenzweig v. givens pg 319-one of trust (partners, physician patient)
    -have duty to disclose material facts

          

  5. Material breachperformance is not substantial
    -nonbreaching party is excused from performance of duties ->can sue for damages
    -ONLY TYPE OF BREACH THAT DISCHARGES NONBREACHING PARTY FROM CONTRACT