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5 Written questions

5 Matching questions

  1. Contracts that lack consideration
  2. Qualified as writing
  3. The minor
  4. Exceptions
  5. Legal Value
  1. a may return the property in the condition it is in at the time of disaffirmance.
  2. b Promisor receives a legal benefit or the promisee suffers a legal detriment
  3. c 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.
  4. d an illusory promise - I will perform only if i want to Moral obligations - love or affections
  5. e defendant needs to sign it the only one who needs to sign.

5 Multiple choice questions

  1. rendered before the promisor's promise was made - not valid consideration - not bargained for
  2. In order to prevent enforcement of the contract the person must be legally insane at time of entering into the contract
  3. Contract is so oppressive or unfair that the courts will not enforce them.
  4. no need for consideration if done in good faith
  5. Certain contracts must be in writing to be enforceable

5 True/False questions

  1. The infancy contractmay return the property in the condition it is in at the time of disaffirmance.


  2. Covenant not to competeenforceable 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


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


  4. Void ifone party threatens to do something wrongful unless the other party enters into a contract.


  5. Undue Influencewhen 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)