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Study sets matching "contracts"

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Study sets matching "contracts"

29 terms
contracts
agreement
obligation
offer
acceptance of offer
proposal of one party to another
agreement
obligation
43 terms
CONTRACTS
liability for negligence
dispute
suffer detriment
gain a benefit
failure to exercise reasonable care in creating product sold
spór, kłótnia, sprzeczka
ponieść szkodę
odnieść korzyść
liability for negligence
failure to exercise reasonable care in creating product sold
dispute
spór, kłótnia, sprzeczka
36 terms
Contracts
Restitution
Unilateral Contract
Firm Offer
Acceptance - Common Law
Protects against unjust enrichment by awarding the reasonable…
An offer can be accepted only by performing. Once performance…
In a sale of goods, if a merchant promises in a signed writin…
Adding or changing almost any term operates as a rejection an…
Restitution
Protects against unjust enrichment by awarding the reasonable…
Unilateral Contract
An offer can be accepted only by performing. Once performance…
64 terms
Contracts
Offer
Acceptance (UCC)
Consideration
Enforceability
Creates the power acceptance in the offeree and a correspondi…
A. Acceptance can be established by shipping or promising to…
A bargain for a performance or returned promise and an exchan…
Whether a contract can legally be held against a party.
Offer
Creates the power acceptance in the offeree and a correspondi…
Acceptance (UCC)
A. Acceptance can be established by shipping or promising to…
98 terms
CONTRACTS
What is a contract?
Goods: Defined
Merchant vs. Nonmerchant
Requirement of good faith performance…
A contract is a promise or set of promises for the breach of…
Goods are all things movable at the time they are identified…
A merchant is one who generally deals in goods of the kind so…
Every contract within the UCC imposes an obligation of good f…
What is a contract?
A contract is a promise or set of promises for the breach of…
Goods: Defined
Goods are all things movable at the time they are identified…
24 terms
contracts
contract
tangible personal property
offer
offeror
A voluntary agreement between two parties in which specific p…
1. property, except land or buildings, that can be seen, weig…
A personal proposal by one party to another intended to creat…
Party who makes an offer to form a contract.
contract
A voluntary agreement between two parties in which specific p…
tangible personal property
1. property, except land or buildings, that can be seen, weig…
71 terms
Contracts
Acceptance
Accord
Account Stated
Assignment
The taking and receiving of anything in good faith with the i…
A contract to discharge an existing cause of action, tort, or…
A summarized statement of a debtor's account.
In contact law, a transfer of equity in a contract to a third…
Acceptance
The taking and receiving of anything in good faith with the i…
Accord
A contract to discharge an existing cause of action, tort, or…
11 terms
CONTRACTS
4 BASIC TYPES OF RELIEF FOR K BREACH
MOST COMMON REMEDY FOR BREACH OF K
MINOR AND MATERIAL BREACH
RULE ON RECOVERY OF DAMAGES, HADLEY V…
DAMAGES, SPECIFIC PERFORMANCE, RESCISSION, RESTITUTION, REFOR…
MONEY DAMAGES, LOSSES SUFFERED, REASONABLY FORESEEABLE, PROVA…
MATERIAL BREACH RELIEVES AGGRIEVED PARTY OF CONTRACTUAL DUTY…
MONEY IS RECOVERABLE FOR DAMAGES WHICH: 1). NECESSARILY NATUR…
4 BASIC TYPES OF RELIEF FOR K BREACH
DAMAGES, SPECIFIC PERFORMANCE, RESCISSION, RESTITUTION, REFOR…
MOST COMMON REMEDY FOR BREACH OF K
MONEY DAMAGES, LOSSES SUFFERED, REASONABLY FORESEEABLE, PROVA…
376 terms
Contracts
Contracts Mnemonic ... Use for a possibl…
Contract:
Quasi contract:... Quantum meruit
Quasi contract... 1. Elements... ie) 3 yea…
1. Applicable Law... 2. Formation of contracts... 3. Terms of contr…
Legally enforceable agreement... A contract and an agreement ar…
Equitable remedy (Restitution)... If there is an unfair result,…
P has conferred a benefit on D, and... P reasonably expected t…
Contracts Mnemonic ... Use for a possibl…
1. Applicable Law... 2. Formation of contracts... 3. Terms of contr…
Contract:
Legally enforceable agreement... A contract and an agreement ar…
312 terms
Contracts
Precedents
Stare decisis
Common law
Constitutions
Prior decisions of the same court or a higher court that a ju…
"Stand by the thing decided"; related to the concept of prece…
Law found in the decisions of the courts rather than statutes…
Documents that set out the basic principles and general laws…
Precedents
Prior decisions of the same court or a higher court that a ju…
Stare decisis
"Stand by the thing decided"; related to the concept of prece…
30 terms
Contracts
bilateral contract
executed contract
executory contract
option agreeement
the promise of one party is given in exchange for the promise…
all obligations have been performed
the period of time after a real estate sales contract is sign…
unilateral, expires in 6 months. Ex. Pam - in class
bilateral contract
the promise of one party is given in exchange for the promise…
executed contract
all obligations have been performed
52 terms
Contracts
Expressed Contracts consist of
Expressed contracts are
Statue of Frauds
Implied Contracts
oral, written, and bilateral
when the parties have expressed their intentions and stated t…
the legal concept that most contracts should be in writing to…
the agreement between the parties is shown by actions rather…
Expressed Contracts consist of
oral, written, and bilateral
Expressed contracts are
when the parties have expressed their intentions and stated t…
20 terms
Contracts
Listing Contracts
Purchase Agreement
Equitable Title
Implied Contract
In a real estate office these contracts are the property of t…
Prior to acceptance these are considered offers
A type of title that one receives as the deed is delivered
Pumping gas prior to paying is an example of this type of con…
Listing Contracts
In a real estate office these contracts are the property of t…
Purchase Agreement
Prior to acceptance these are considered offers
19 terms
CONTRACTS
SIGNALS OF ACCEPTANCE OF THE OFFER UND…
NONCONFORMING GOODS UNDER UCC
DIFFERENT TERMS UNDER THE UCC: BATTLE…
STATUTE OF FRAUDS
Types of Acceptance:... 1) Promising to ship goods... 2) Promptly…
If nonconforming goods are sent, it constitutes an acceptance…
If both parties are NOT merchants, the additional terms are t…
The statute of frauds require certain types of contracts to b…
SIGNALS OF ACCEPTANCE OF THE OFFER UND…
Types of Acceptance:... 1) Promising to ship goods... 2) Promptly…
NONCONFORMING GOODS UNDER UCC
If nonconforming goods are sent, it constitutes an acceptance…
22 terms
Contracts
Revocation
Firm Offer
Remedies for Breach of Contract
Offer can be revoked by offeror unless... 1. Option contract... 2…
- When a merchant sends an offer in writing, promising to kee…
Anticipated profit on the sale plus incidental damages, if an…
Revocation
Offer can be revoked by offeror unless... 1. Option contract... 2…
Firm Offer
- When a merchant sends an offer in writing, promising to kee…
36 terms
Contracts
Mechanical Mistake
Consideration
Real Defenses To Formation
SOF Exceptions
*exception to unilateral mistake... if X makes a mistake Y (non…
Elements:... 1. bargained for ... 2. a promise to do something (o…
DEF: there never was a K... All Men Cheat Unless Porn... 1. Ambig…
No writing required for: ... 1. Full Performance of Service K…
Mechanical Mistake
*exception to unilateral mistake... if X makes a mistake Y (non…
Consideration
Elements:... 1. bargained for ... 2. a promise to do something (o…
10 terms
Contracts
Three elements of a Contract
Three elements of an Offer
Offer may be terminated what two means
Three criteria for the Acceptance of o…
Offer-acceptance-consideration
Promise/intent-terms- comuncation to offeree(customer
1. An act of the parties. 2. The operation of law
1. Accepted by the one entitled to accept. 2. Proper form and…
Three elements of a Contract
Offer-acceptance-consideration
Three elements of an Offer
Promise/intent-terms- comuncation to offeree(customer
60 terms
Contracts
Bailey v. West
Lucy v. Zehmer
Trimmer v. Van Bomel
Wagner Excello Foods v. Fearn Int'l, Inc
The Horse Case. ... D not liable for damages to P when P took ca…
Farm joke case. ... P sued D for farm after K made "in jest" acc…
Sugar momma case. ... P sued D for money to allow for promised "…
Juice case. ... P sued D for breach of contract because they did…
Bailey v. West
The Horse Case. ... D not liable for damages to P when P took ca…
Lucy v. Zehmer
Farm joke case. ... P sued D for farm after K made "in jest" acc…
164 terms
Contracts
Hawkins v. McGee
Home Building & Loan Association v. Bl…
Radke v. Brenon
Cloud Corp. v. Hasbro, Inc.
EXPECTATION DAMAGES. Hairy Hand case, Dr. promised a perfect…
MN statute makes temporary change in mortgage law that alters…
(Statute of Frauds- USE FOR LAND- SPECIFIC PERFORMANCE) neigh…
1) WAIVER OF NO ORAL MODIFICATION CLAUSE... 2) 2.201(3) UNIQUE G…
Hawkins v. McGee
EXPECTATION DAMAGES. Hairy Hand case, Dr. promised a perfect…
Home Building & Loan Association v. Bl…
MN statute makes temporary change in mortgage law that alters…
135 terms
Contracts
Freedom to contract
Hurley v. Eddingfield
Runyon v. McCrary
Freedom of contract
You can't be forced into a contract
You are not obligated to enter into a contract (Doc didn't tr…
Policy argument: A party cannot discriminate on race, or othe…
Parties can give the contract whatever content or terms they…
Freedom to contract
You can't be forced into a contract
Hurley v. Eddingfield
You are not obligated to enter into a contract (Doc didn't tr…
165 terms
Contracts
Is the term "offer" necessary for ther…
When does restitution apply?
What are the two requirements for rest…
What is the presumption for services r…
No
When there is no consideration or reliance, but there is unju…
a. Party must be enriched and... b. Retention of benefits withou…
Gratuitous
Is the term "offer" necessary for ther…
No
When does restitution apply?
When there is no consideration or reliance, but there is unju…
122 terms
Contracts
1. Formation: Do parties even have a d…
Certainty of terms
I. Special offer Rules
I. Communication of a present commitment... (a) Requirement of a…
• If there is no quantity then no offer, unless there is a fo…
(a) Advertisement is generally not an offer, but there are ex…
1. Formation: Do parties even have a d…
I. Communication of a present commitment... (a) Requirement of a…
Certainty of terms
• If there is no quantity then no offer, unless there is a fo…
46 terms
Contracts
1 - Contract
2 - Promise
2 - Promisor
§2 - Promisee
a promise or set of promises for the breach of which the law…
a manifestation of intention to act or refrain from acting in…
the person manifesting the intention is the promisor
the person to whom the manifestation is addressed is the prom…
1 - Contract
a promise or set of promises for the breach of which the law…
2 - Promise
a manifestation of intention to act or refrain from acting in…
73 terms
Contracts
Contract
Exception to contract... Section 1 Restat…
Contract components
Mutual assent
Agreement between parties w/enforcement if failure to perform…
Fraud duress or mutual mistake, one having capacity to unders…
Mutual Assent and consideration
Offer and acceptance
Contract
Agreement between parties w/enforcement if failure to perform…
Exception to contract... Section 1 Restat…
Fraud duress or mutual mistake, one having capacity to unders…
Contracts
Elements of a Contract
Types of Contracts
Defenses to formation of Contracts
Promise v. Condition
Offer and an acceptance with consideration
Express contracts: formed when the offer and acceptance are o…
Statue of frauds... Part performance for a land sale contract…
A promise is a commitment to do or not do an act that is at t…
Elements of a Contract
Offer and an acceptance with consideration
Types of Contracts
Express contracts: formed when the offer and acceptance are o…
143 terms
Contracts
contract
Unilateral K
Bilateral K
Quasi K
a legally enforceable agreement or promise ... - the law recogni…
offer expressly requires perfromance as the only manner of ac…
anything other than a unilateral K
not a K, more like an equitable remedy... - usually arises when…
contract
a legally enforceable agreement or promise ... - the law recogni…
Unilateral K
offer expressly requires perfromance as the only manner of ac…
153 terms
Contracts
Common Law
UCC (Uniform Commercial Code)
Contract
Offeror
- based on legal principles in earlier case law (precedent) i…
-governs commercial transactions ... -sale of goods (tangible pr…
an agreement that is enforceable by a court of law or equity.…
party who makes an offer to enter into a contract
Common Law
- based on legal principles in earlier case law (precedent) i…
UCC (Uniform Commercial Code)
-governs commercial transactions ... -sale of goods (tangible pr…
88 terms
Contracts
Contract
Offeror
Offeree
4 Elements of a valid, enforceable con…
promise or set of promises, the breach which, the law gives a…
person making offer
person to whom the offer is made, and who has the power to ac…
agreement... consideration... legal capacity... lawful purpose
Contract
promise or set of promises, the breach which, the law gives a…
Offeror
person making offer
59 terms
Contracts
Offer
Acceptance
Consideration
Contractual Capacity
proposal by one party to enter into a contract
affirmation by the offeree to accept the proposal of offeror
subject matter of the contract
the ability of a party to enter into a contract
Offer
proposal by one party to enter into a contract
Acceptance
affirmation by the offeree to accept the proposal of offeror
96 terms
Contracts!
§1
§2
§3
§7
Contract Defined
Promise Defined
Agreement and Bargain Defined
Voidable Contract
§1
Contract Defined
§2
Promise Defined
55 terms
Contracts
Offer Definition
Offer must be (3)
Contract Elements
How an Offer can be terminated
Manifestation of willingness... to enter into a bargain,... so ma…
Valid - reasonably certain terms which a RP can conclude an o…
Offer... Acceptance... Legally Enforceable Promise
Revocation by Offeror... Death or Incapacity by offeror... Lapse of…
Offer Definition
Manifestation of willingness... to enter into a bargain,... so ma…
Offer must be (3)
Valid - reasonably certain terms which a RP can conclude an o…
55 terms
Contracts
Consideration
Minority Rule Consideration Rule
Types of Satisfaction Clauses.
Promissory Estoppel Elements
For K, both sides need to get a something.... Courts won't inqui…
If forebear a legal right (act to detriment), it counts as co…
Clause may say that it is subject to party's satisfaction.... 1.…
1. Promise (strong vs. weak)... 2. Induces Action/Forbearance... 3.…
Consideration
For K, both sides need to get a something.... Courts won't inqui…
Minority Rule Consideration Rule
If forebear a legal right (act to detriment), it counts as co…
Contracts
Post v. Jones
Undue Influence
Fraud
Constructive Fraud
Whaling vessel with oil was deserted and in trouble when 3 sh…
When a contract has been imposed by a dominant party upon a s…
Misrepresentation of fact. Deceit. Intent+Reliance+Harm
No Intent+Reliance+Harm
Post v. Jones
Whaling vessel with oil was deserted and in trouble when 3 sh…
Undue Influence
When a contract has been imposed by a dominant party upon a s…
221 terms
Contracts
Contractor's remedy when owner breache…
Contractor's duty to mitigate
Novation
When are assignments and delegations p…
Expectation damages + restitution... Profit he expected to make…
Contractor must not continue work after breach and incur more…
Parties enter into an agreement to substitute a third party f…
When they would substantially alter the obligor's risks
Contractor's remedy when owner breache…
Expectation damages + restitution... Profit he expected to make…
Contractor's duty to mitigate
Contractor must not continue work after breach and incur more…
116 terms
Contracts
Unilateral K
Bilateral contract
Offer
Is an advertisement or price quote an…
results from an offer that expressly requires performance as…
results from all other all other offers. [Usually offer is si…
Manifestation of commitment... An offer is one person's (the of…
GR: An advertisement or price quotation is not an Offer.... An…
Unilateral K
results from an offer that expressly requires performance as…
Bilateral contract
results from all other all other offers. [Usually offer is si…
contracts
abide
agreement
assurance
cancellation
tuân theo, chịu theo
sự thỏa thuận
bảo đảm, chắc chắn
sự bãi bỏ, sự hủy bỏ
abide
tuân theo, chịu theo
agreement
sự thỏa thuận
20 terms
Contracts
Agreement
Appendix
Arbitration
Article
arrangement between 2 or more people
additional material at the end of contract
settlement of a dispute by a chosen person by both parties
particular statement in a contract;article
Agreement
arrangement between 2 or more people
Appendix
additional material at the end of contract
Contracts
amend
award
draft
renege
corregir
ganar
borrador
Fail to fulfill a promise or obligation
amend
corregir
award
ganar
32 terms
Contracts
Mailbox Rule
Mirror Image rule
Offer
Offeree
Acceptance is effective when sent.
Acceptance must exactly match the offer.
Act or statement that includes definite terms and acceptance…
The person to whom an offer is made.
Mailbox Rule
Acceptance is effective when sent.
Mirror Image rule
Acceptance must exactly match the offer.
23 terms
Contracts
6 essentials elements of an enforceabl…
Capacity
voidable
consideration
offer/acceptance, genuine assent, legality, consideration, ca…
ability to understand
contract in which the injured party can withdraw/cancel contr…
legal value that a person demands and must receive in order t…
6 essentials elements of an enforceabl…
offer/acceptance, genuine assent, legality, consideration, ca…
Capacity
ability to understand
20 terms
Contracts
Listing Contracts
Purchase Agreement
Equitable Title
Implied Contract
In a real estate office these contracts are the property of t…
Prior to acceptance these are considered offers
A type of title that one receives as the deed is delivered
Pumping gas prior to paying is an example of this type of con…
Listing Contracts
In a real estate office these contracts are the property of t…
Purchase Agreement
Prior to acceptance these are considered offers
60 terms
Contracts
Contract (§1)
Promise (§2)
Requirements of a Bargain (§17)
Effects of Misunderstanding (§20)
A contract is a promise or a set of promises for the breach o…
A manifestation of intention to act or refrain from acting in…
(1) Except as stated in Subsection (2), The formulation of a…
(1) There is no manifestation of mutual assent to an exchange…
Contract (§1)
A contract is a promise or a set of promises for the breach o…
Promise (§2)
A manifestation of intention to act or refrain from acting in…
75 terms
Contracts
Contract Topics (AFTPTRE)
WHEN IS THE UCC APPLICABLE?
WHEN IS THE COMMON LAW APPLICABLE?
MIXED CONTRACTS--... What Law Applies?
Applicable law, Formation, Terms, Performance, Third Party, R…
UCC Art. 2 governs the sale of goods, with applicable rules a…
majority rules governing contracts other than the sale of goo…
-determined by the more important part of the deal ... EXCEPT:... -…
Contract Topics (AFTPTRE)
Applicable law, Formation, Terms, Performance, Third Party, R…
WHEN IS THE UCC APPLICABLE?
UCC Art. 2 governs the sale of goods, with applicable rules a…
14 terms
Contracts
establish
obligate
party
provision
thành lập
chấp hành
bên
dự khoản
establish
thành lập
obligate
chấp hành
22 terms
Contracts
appendix
clause
to fulfil
herein
additional or supplementary material at the end of the contra…
a particular statement or stipulation in a contract, etc.
to satisfy a condition; to complete the required task;
in here; in this document
appendix
additional or supplementary material at the end of the contra…
clause
a particular statement or stipulation in a contract, etc.
77 terms
Contracts
Basic Elements of a common law contract
Test for an offer
Why do courts rule on contract cases?…
Bilateral contract
An offer... An acceptance of the offer... Consideration
whether an objective or reasonable person would believe that…
1. Allocate risk... 2. Provide a forum to solve disputes
Promise for a promise... In a bilateral contract both parties ar…
Basic Elements of a common law contract
An offer... An acceptance of the offer... Consideration
Test for an offer
whether an objective or reasonable person would believe that…
48 terms
CONTRACTS -
DOES VALID LIQUIDATED DAMAGES CLAUSE B…
S OFFERS H $500 TO STRANGLE M, HIS ENE…
BUILDER BREACHES A CONSTRUCTION CONTRA…
ARE THE SAME REMEDIES FOR BREACH OF CO…
NO, IT ONLY LIMITS THE CLAIM FOR DAMAGES. THE NON-BREACH PART…
NO, NEITHER CAN HE COMPEL RETURN OF THE $250 ADVANCE. FURTHER…
NO, UNLESS THERE IS A DEATH OF BUILDERS AND THE OWNER'S NEEDS…
YES, DAMAGES, SPECIFIC PERFORMANCE, AND RESCISSION AND RESTIT…
DOES VALID LIQUIDATED DAMAGES CLAUSE B…
NO, IT ONLY LIMITS THE CLAIM FOR DAMAGES. THE NON-BREACH PART…
S OFFERS H $500 TO STRANGLE M, HIS ENE…
NO, NEITHER CAN HE COMPEL RETURN OF THE $250 ADVANCE. FURTHER…
88 terms
Contracts
Offer
Acceptance
Definite and Complete
When is a Contract Legally enforceable?
1. A manifestation of a willingness to enter into a bargain.…
1. A Manifestation of a willingness to enter the bargain prop…
An offer must be sufficiently definite and complete if it is…
When there is consideration for it.
Offer
1. A manifestation of a willingness to enter into a bargain.…
Acceptance
1. A Manifestation of a willingness to enter the bargain prop…
CONTRACTS
Promissory Estoppel
Assignment
Limitation on Assignment
Provision Prohibiting Assignment
...
Transfer of rights under a K. (1) K between only 2 parties; (…
If K provision regarding assignment: (a) Prohibits assignment…
Language of prohibition takes away right to assign but not po…
Promissory Estoppel
...
Assignment
Transfer of rights under a K. (1) K between only 2 parties; (…
103 terms
Contracts
What is the Consideration Doctrine?
Bargain Requirement (RS 71) To constit…
Exceptions to consideration - Illusory…
Exceptions to consideration - Waiver o…
Bargained-for Exchange as a basis of liability
1. A return promise... 2. an act... 3. A forbearance... 4. Alteration…
Not supported by consideration... Ex. Ill give your 50 dollars i…
At the request of another party is a sufficient consideration…
What is the Consideration Doctrine?
Bargained-for Exchange as a basis of liability
Bargain Requirement (RS 71) To constit…
1. A return promise... 2. an act... 3. A forbearance... 4. Alteration…
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