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5 Written questions

5 Matching questions

  1. Bargained for exchange
  2. Undue Influence
  3. The infancy contract
  4. If fraud, must have 4 things
  5. Pre-existing duty rule
  1. a 1) the defendant made a false representation of material fact. 2) defendant knew the representation was false and intended to deceive the plaintiff - scienter. 3) plaintiff justifiable relied on the misrepresentation. 4) the plaintiff was injured.
  2. b when one party takes advantage of another person's mental, physical, or emotional weakness and unduly persuades that person into a contract. Need a fiduciary type relationship - attorney, CPA, doctor, etc. (Elderly People)
  3. c minors can disaffirm contracts
  4. d contract will fail for lack of consideration when one party promises to perform an act they are already bound to perform
  5. e courts really saying they will not enforce gift promises

5 Multiple choice questions

  1. person must be incapable of understanding or comprehending the nature of the transaction.
  2. 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
  3. is required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.
  4. 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)
  5. 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

5 True/False questions

  1. What is writingdefendant needs to sign it the only one who needs to sign.

          

  2. Court can eitherrefuse to enforce it or alter to make reasonable

          

  3. Consideration"Quid pro quo" - something of legal value given for a promise

          

  4. Contractual capacityis required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.

          

  5. Contracts that lack considerationrendered before the promisor's promise was made - not valid consideration - not bargained for