5 Written questions
5 Matching questions
- Legal Value
- Undue Influence
- Contractual capacity
- Bargained for exchange
- Covenant not to compete
- a courts really saying they will not enforce gift promises
- b Promisor receives a legal benefit or the promisee suffers a legal detriment
- c who may enter into a contract
- d 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
- e 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)
5 Multiple choice questions
- defendant needs to sign it the only one who needs to sign.
- rendered before the promisor's promise was made - not valid consideration - not bargained for
- 1) sale of goods over $500 2) real estate contracts 3) contracts to pay the debt of another.
- "Quid pro quo" - something of legal value given for a promise
- refuse to enforce it or alter to make reasonable
5 True/False questions
The adult - responsibility party → is required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.
Void if → 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)
Legal insanity → person must be incapable of understanding or comprehending the nature of the transaction.
Competent party → "Quid pro quo" - something of legal value given for a promise
Unconscionable Contracts → minors can disaffirm contracts