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5 Written questions

5 Matching questions

  1. Legal Value
  2. Undue Influence
  3. Contractual capacity
  4. Bargained for exchange
  5. Covenant not to compete
  1. a courts really saying they will not enforce gift promises
  2. b Promisor receives a legal benefit or the promisee suffers a legal detriment
  3. c who may enter into a contract
  4. 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
  5. 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

  1. defendant needs to sign it the only one who needs to sign.
  2. rendered before the promisor's promise was made - not valid consideration - not bargained for
  3. 1) sale of goods over $500 2) real estate contracts 3) contracts to pay the debt of another.
  4. "Quid pro quo" - something of legal value given for a promise
  5. refuse to enforce it or alter to make reasonable

5 True/False questions

  1. The adult - responsibility partyis required to return the incompetent party to the status quo. incompetent party will be required to return the property in its current condition.

          

  2. Void if1) 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)

          

  3. Legal insanityperson must be incapable of understanding or comprehending the nature of the transaction.

          

  4. Competent party"Quid pro quo" - something of legal value given for a promise

          

  5. Unconscionable Contractsminors can disaffirm contracts