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5 Written questions

5 Matching questions

  1. Under the UCC
  2. UCC, the requirements for an offer
  3. Capacity
  4. Fraud
  5. Acceptance by Stipulated Means
  1. a The knowing & intentional disclosure of false information or the knowing failure to disclose relevant information
  2. b must include only the parties involved & the subject matter
  3. c one form of option makes the offer irrevocable, even without the offeree's payment
  4. d Required means of acceptance, If the offeree uses the stipulated means of acceptance, the acceptance is effective when it is properly sent, ie mailbox rule applies. (Ex: If the offeror has required a mailed acceptance & the offeree properly mails the letter of acceptance.
  5. e Both parties to a valid contract must have capacity. Legal term for the ability to enter into a contract

5 Multiple choice questions

  1. An agreement (accord) to pay a certain amount, the payment of which constitutes full payment (satisfaction) of that debt.
  2. the addition of terms in the counteroffer doesn't result in a rejection; there will still be a contract if there is a clear intent to contract, but the additional terms will not be a part of the contract. (Ex 232)
  3. A situation, term, or event that makes an otherwise valid contract invalid
  4. Occurs when a party is physically forced into a contract or deprived of a meaningful choice when decided whether to enter into a contract.
  5. Promises to protect employers & buyers from loss of goodwill through employee or seller competition. (ex 253)

5 True/False questions

  1. CISG (United Nations Convention on Contracts for the International Sale of Goods)Ex: If Alan agreed to sell his land to Berth under an oral contract & Bertha has paid, has the deed, & had moved in, Alan can't use the statute of frauds to remove Bertha & get the land back

          

  2. Parol Evidence RuleExtrinsic evidence regarding a contract

          

  3. Statute of FraudsList of types of contracts required to be in writing under most state laws: Contracts for the Sale of Real Property (sales, certain leases, liens, mortgages, & easements) Contracts That Can't be Performed in One Year Contracts to Pay the Debt of Another

          

  4. Age CapacityBoth parties to a valid contract must have capacity. Legal term for the ability to enter into a contract

          

  5. Article 2AThe knowing & intentional disclosure of false information or the knowing failure to disclose relevant information