5 Written questions
5 Matching questions
- Mutual Mistake
- Court may... (Uncon. Con.)
- Illegal contracts are void
- Contractual capacity
- a both parties are mistaken regarding a material fact - important to the subject matter of the contract
- b 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.
- c who may enter into a contract
- d reshape the contract to eliminate the unreasonable portion or refuse to enforce the contract
- e neither party can sue for nonperformance. even if part of the contract has been performed the court will leave party where they found them
5 Multiple choice questions
- In order to prevent enforcement of the contract the person must be legally insane at time of entering into the contract
- may return the property in the condition it is in at the time of disaffirmance.
- person must be incapable of understanding or comprehending the nature of the transaction.
- is required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.
- 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
5 True/False questions
Contracts that lack consideration → rendered before the promisor's promise was made - not valid consideration - not bargained for
Misrepresentation → Fraud ( you have forever to dispute this)
Void if → one party threatens to do something wrongful unless the other party enters into a contract.
Unconscionable Contracts → minors can disaffirm contracts
What is writing → basically any writing can be introduced. must be signed by the defendant.