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5 Written questions

5 Matching questions

  1. duress
  2. necessaries
  3. disaffirm
  4. accord
  5. Method for acceptence
  1. a the use of any wrongful act or threat to influence a party to contract
  2. b a contract when that party notifies the other contracting party that he or she will no longer be bound by the contracts terms
  3. c a contract to pay a stated amount to discharge a prior obligation that is either uncertain as to its existence or amount.
  4. d those articles that the minor actually needs and must supply for himself or herself because the person who has the duty to provide these articles either cannot or will not provide them
  5. e The offeror, by being the master of the offer, not only establishes the terms of the contract but also establishes how the offeree must accept the offer and whether notice of acceptance is required. These two concepts, method of acceptance and notice of acceptance often are achieved by the same act in some situations however the method of acceptence will not provide notice of acceptance

5 Multiple choice questions

  1. a person who has specialized knowledge as to the goods,specialized knowlegde as to the business practices.
  2. when the offeree responds to the offerors preprinted form with his or her own preprinted form, the offeree manifests a definite expression of acceptance when the offerees form accepts the offeror's "bargained for" terms
  3. under classical contract theory, modification of a contract is itself a contract and must follow the same rules of contract formation required for the original contract
  4. the performance of the accord contract. Once the accord contract has been performed, the original contractual duties are terminated.
  5. a contract or contract terms in unconscionable if at the time of contract formation one party imposed an unreasonable favorable contract or term on the other party who lacked a meaningful choice.

5 True/False questions

  1. Mirror Imagesgives minors the power to contract and the power to disaffirm a contract, even after the other party has fully performed.

          

  2. duress by actual physical forceoccurs when a person using physical force compels a party to assent to the contract, even though that party did not intend to contract

          

  3. Last shot doctrineis a contract formed by one party imposing his or her will upon an unwilling or even unwitting party

          

  4. cognitive testthe more modern test which supplements the cognitive test so a person may disaffirm a contract when due to mental disease or defect, he or she is unable to act in a reasonable manner and the other party had reasons to know of the mental disease or defect

          

  5. Bargained for termsterms in a preprinted form are those terms that are supplied by the party on the form and have not been preprinted.