BLaw test 4A (11,12,13)

what is value in terms of consideration?

- A legal benefit or detriment of sufficient, measurable value promised by each party. - A promise to do something that one has no prior duty to do. - The performance of an action that one is otherwise not obligated to do. - Forbearance

examples of acts or statements that are usually not offers.

-An Invitation to Bargain or Negotiate -Price Quotes -Letter of Intent - This letter states what the parties are considering, and does not create a legal obligation. -Advertisements - Ads are generally not offers, but instead are requests for someone to make an offer. A very detailed advertisement is an exception, and could be considered an offer. -Auctions - Auctions are considered requests for offers. In some auctions, the bidding must meet or exceed a certain bid price to complete the sale.

what does a promissory estoppel require?

-a clear and definite promise by the defendant -the plaintiff relied on that promise, to their detriment -the defendant knew the plaintiff would rely on the promise -the only way to avoid injustice is to enforce the promise

What three elements must a plaintiff show when requesting the remedy of a quasi contract?

1. The plaintiff provided the defendant with some benefit. 2. The plaintiff reasonably expected to be paid for that benefit and the defendant knew about that expectation. 3. The defendant would be unjustly enriched if he or she did not pay.

Plain Meaning Rule

A court will enforce a contract according to its obvious terms when it is clear and unequivocal

Kapoor owned property in North Carolina and listed the property for sale on August 4th. That same day, Nolan made an offer to purchase the property. The offer included the following language: "OFFER CLOSING DATE: Time is of the essence, therefore this offer must be accepted on or before 5:00 p.m. August 5th." Kapoor received the offer, signed it, but also made several changes to the terms. These included an increase in the initial deposit, an increase in the down payment due, and a decrease in the term of the loan from the seller from 25 to 20 years. On the evening of August 4th, Nolan received the modified document but neither accepted nor rejected its terms. Instead, Nolan said "he was going to wait awhile before he decided what to do with it." The following morning on August 5th, Kapoor approached Segal, another prospective buyer, and signed an offer to purchase with terms very similar to those presented to Nolan the previous evening. At 2:00pm on August 5th, Nolan was informed that "[y]ou snooze, you lose; the property has been sold." Later that afternoon, Nolan initialed the offer containing Kapoor's modified terms and presented it to Kapoor's representative. When Kapoor refused to sell the property to Nolan, Nolan filed a lawsuit against Kapoor.

An offer can terminate automatically when the period of time specified in the offer has passed. In this case, Nolan made an offer that automatically terminated at 5:00pm on August 5th. Before the offer automatically terminated, Kapoor replied to Nolan with changes in the terms of the offer. This constitutes a counteroffer of the original offer. A counteroffer is a rejection of the original offer and does not have to be accepted. If an original offeror does accept the terms of the counteroffer, a valid contract is created. Nolan received the terms of the counteroffer, but did not accept the terms of the counteroffer. When Nolan was informed that "[y]ou snooze, you lose; the property has been sold," Kapoor had revoked her counteroffer. When Segal was presented with the terms of the counteroffer made earlier to Nolan, Segal did accept the terms. Segal's acceptance of the terms offered by Kapoor causes a valid contract to be created. Nolan's subsequent acceptance of Kapoor's counteroffer does not create a valid contract. Therefore, Nolan is likely to lose his lawsuit against Kapoor and Segal is likely the legitimate new owner of the property. Assessment question

example of offer accepted by actions

For example, Barry tells Olivia, his neighbor's daughter, that he will pay her $50 if she pulls weeds and trims the bushes in his yard. When Olivia comes to Barry's house and begins the work, she has accepted his offer with her actions.

contract termination by law examples

If Lorenzo offers to sell his Maserati for $95,000 to Lindsay, she cannot return to Lorenzo five years later and try to force Lorenzo to sell his Maserati five years later. It has been too long for that offer to be enforceable. Also, if the car is destroyed in a wreck, the law terminates that offer. Finally, if instead of a car the item for sale is an animal and the law changes to protect that animal from private ownership, the offer is terminated by law.

plaintiff

One who begins a lawsuit

past consideration example

Pat is a contractor who sometimes hires Sophie to do excavation work. Pat is having trouble selling some old equipment and decides to give it to Sophie. A few months later, Pat needs some excavation work and asks Sophie to do the work. Sophie asks for money, but Pat says, "I gave you some old equipment so you should do this work for no charge." The equipment Pat had given to Sophie would be past consideration and would not be consideration for the new deal.

silence as acceptance example

Suppose Dini Produce Co. has delivered food to the Magnolia Bed & Breakfast for years. The owners of Magnolia tell Dini management they will be closing for the month of January for vacation. If Dini begins delivering food again in February, after the vacation closure ends and Magnolia staff take the food and use it, Magnolia has accepted the obligation to pay for the goods received from those deliveries based on prior dealings and also because the business benefited from the goods.

quasi contract example

Suppose you are at home and you hear noises outside of your house. A crew of workers is unloading equipment and landscaping supplies in your yard. They tell you that they came to install a sprinkler system and replace the landscaping on your property. You wave "hello" to them and go inside. At some point, you take some cold drinks out to the workers and tell them the yard looks beautiful. As the workers pack up to leave, you thank them for the excellent work and wave as they depart. A week later, you receive a bill in the mail for $15,000 for your address, but the name on the bill is that of one of your neighbors. You call the company and report that you did not hire the company to do any work on your property, you did not sign a contract, and they were mistaken about the address. When the landscaping company sues, the court can create a quasi-contract between you and the company, leading to a court order for you to pay the company for the fair value of their work. The fact that you knew about the work and did not stop the work would lead to unjust enrichment if the court did not create a quasi-contract here

acceptance

The requirement of acceptance involves the offeree agreeing to the terms of the offer made by the offeror. In general, the offeree must affirmatively accept the terms of the offer in full and communicate that acceptance to the offeror.

what is the method of acceptance in a unilateral contact?

With a unilateral contract, one party makes an offer for which the other party must accept by action, not words. As a result, the required action is the method of acceptance.

implied-in-fact contract

a contract in which the agreement of the parties is inferred from their conduct

contract

a legally binding agreement formed by two or more parties, each of whom agrees to perform or to refrain from performing some act now or in the future

What creates a bilateral contract?

a sale of goods with payment at delivery

negotiable instrument

a signed writing of an unconditional promise or order to pay a sum of money either payable on demand of the hodler or at a specified future time

offer

a statement or act by the offeror to the offeree promising to perform or refrain from performing some act

Brindley has an old shed on her property that needs to be removed. She posts the following ad on Facebook: "Shed needs to be gone. You take down and haul away. (Much of the wood is reusable.) $100 to the first person to show up and haul this away." This is an example of a(n):

a unilateral contract

in general, which of these contract items is not rquired to meet the requirement of definiteness?

acceptance

extrinsic evidence

any evidence not contained in the document itself

a police officer who finds a missing child as part of his duties may not collect any reward for finding the child. why?

because the officer already had a pre-existing duty to do so

how can an offer be terminated?

by action of the parties or termination by law

example of a valid offer

eric offers to buy arun's house for 775k with no contingencies because eric's lease ends in two months. arun wants to think about it and six days later has not responded yet

when party A and B form a contract and both parties fully perform, the contract is considered

executed

which is legally sufficient consideration?

forbearance of a legal act and a promise to do a legal act

zayn boards the big rock metro to ride to downtown to his job. zayn gives his money to the bus driver and takes his seat. neither the driver nor zayn says anything. zayn and the bus driver have a....

implied contract

sal has ordered 100 pounds of shrimp for his restaurant from Sam every friday for 5 years and has always paid tha tweek's market price. One friday, sal decides to take a vacation but doesn't tell Sam. Same claims they have a contract, even though it was never written down. What kind of contract do they have?

implied in fact

quasi-contract

in a case with no valid contract, when the plaintiff can show benefit to the defendant, reasonable expectation of payment, and unjust enrichment, the plaintiff will still be entitled to damages

owen offers to sell his motorcycle to julian for 5k, After he makes the offer, owen has second thoughts. owen can revoke the offer4 to sell his motorcycles to julian as long as....

julian has not accepted the offer

Lilly hired Harris Lawn Service to cut her grass one summer, and paid through automatic charges to her credit card. After taking three months off for winter weather, Harris staff cut Lilly's grass for four weeks in a row before charging the fees on Lilly's credit card. Lilly protested the charges, stating she did not hire the company to cut grass for the second summer. Harris sues Lilly. What law applies? Choose 2 answer choices.

lilly's silence is acceptance because of the parties' past dealings and lilly's silence is acceptance because the offeree accepted the benefit offered

when an agreement fails to qualify as an enforceable contract, but one of the parties breaches the agreement, the non-breaching party:

may sue for unjust enrichement

what words if added to an offer will cause the offer to fail for definiteness?

might or in the future

must all terms of a deal be included in an offer?

no, but the terms required will depend on the type of contract

implied-in-law contract

quasi contract

What happens to the plaintiff once the court creates a quasi contract?

the court will award damages to the plaintiff in the amount of the fair value of the defendant's benefit

Ellen offers to sell her 1997 Mustang convertible to Fred for $2,000. Fred agrees to pay $2,000 for Ellen's Mustang. Before Fred picks up the Mustang, Ellen discovers that the Mustang is considered a classic car and is worth much more than $2,000. Ellen refuses to sell the Mustang to Fred, stating that the consideration is insufficient. If Fred tries to enforce the deal by taking Ellen to court:

the court would probably enforce the deal because there was valid consideration on both sides

what must a plaintiff show to be awarded a quasi-contract in a lawsuit?

the defendant was unjustly enriched

accord and satisfaction

the discharge of contractual obligations when the parties agree to accept the performance different from the performance required in the contract, accord and satisfaction is the discharge of the debt for less than the required balance

bilateral contracts

the offeree can accept the offer by promising to perform their end of the deal. The contract is formed immediately upon exchange of promises to perform at some later point

unilateral contract

the offeree can only accept the offer by completing their end of the deal. The contract is formed and performed by the offeree at the same moment. Only then does the offeror become bound. However, if the offeree begins t perform (the performance has been substantially undertaken) the offeror cannot revoke his offer. He must allow the offeree to complete the performance.

when can silence be considered acceptance

the offeree takes the benefits of offered goods or services and should have known payment is expected or the parties have had prior dealings

forbearance definition and example

the refraining for an action that one has a legal right to do. if a parent pays his adult child to quit smoking, that is forbearance and is consideration. The adult child has a right to smoke, and giving up that right is a valid consideration for the contract

uniform commercial code (UCC)

the set of uniform laws that govern commercial transactions

what type of contract exists when at least one party has the option of canceling it?

voidable

consideration

what each party give sup under the contract. each party must give something and must get something for the contract to be enforceable

In what situations would a court be likely to award a quasi-contract? Chose 2 answer choices.

when the unjust enrichment is a relatively insignificant amount of money or if the defendant was unjustly enriched an dplayed a part in deceiving the plaintiff

if unforeseen difficulties arise during the performance of a contract, may the parties change the terms of the contract without giving additional consideration?

yes, if the modification is fair and equitable

Sarah is shopping at Sylvia's thrift store, and notices that the inside of the store needs repainting. Sarah offers to paint the store for $400. Sylvia does not respond to Sarah's offer. Later that day, Sarah returns to the store with painting supplies in hand and begins painting the store. When Sarah is finished, she demands payment of $400 from Sylvia. Will Sylvia have to pay Sarah for painting the store?

yes, sylvia will have to pay sarah for painting the store, even though she did not verbally agree to the contract

L.D.T. International Sales Corp. (L.D.T.), an American firm, contracted to sell 100,000 pounds of "US Fresh Frozen Chicken, Grade A, Government Inspected" to Freight Importing Co. (Freight), a Swiss company. When L.D.T. asked Freight what kind of chickens were wanted, Freight said "any kind of chickens." L.D.T. also asked whether the term "chicken" included the German word "Huhn", which includes both older stewing and younger broiling and frying chickens. In response, Freight answered yes. When the shipment of chicken arrived, Freight complained that the chicken delivered were substantially older stewing chicken or "fowl." According to Freight, the term "chicken" in the contract meant younger and more expensive chickens suitable for broiling or frying. L.D.T. replied that "chicken" meant any bird of that species and both older and younger chickens met the contract's specifications. When L.D.T. did not agree to deliver entirely young chicken suitable for broiling and frying, Freight sued L.D.T. for breach of contract.

- This case primarily involves an express contract . When a contract's writing is clear and unequivocal, the court will enforce the contract according to its obvious terms. Interpreting a contract's terms from the written document alone is sometimes referred to as the plain meaning rule . If a contract term is ambiguous, a court may consider extrinsic evidence to interpret the contract. - In this case, the meaning of the word "chicken" is ambiguous . Therefore, a court can use extrinsic evidence to interpret the contract between Freight and L.D.T. The extrinsic evidence shows that the term "chicken" was given a broader interpretation by the parties. Therefore, the extrinsic evidence of the contract favors the interpretation of L.D.T. . - In this case, seller L.D.T. could satisfy the terms of the contract by delivering both older stewing and younger broiling chickens to Freight. - A court in this case likely would find that L.D.T. did not breach the contract when it delivered both older stewing and younger broiling chickens to Freight. As a result, L.D.T. would likely win the case. Assessment question

uniform commercial code provides for debtors to establish accord and satisfaction of a debt by proving:

1. They in good faith tendered an instrument to the claimant to fully satisfy the claim. 2. The amount was unliquidated (unknown) and subject to a bona fide dispute. 3. The claimant took payment of the instrument (i.e., money).

what elements are required for courts to apply the doctrine of promissory estoppel?

1. enforcement of the promise is necessary to avoid injustice to the promisee 2. the promise must be definite and relied upon 3. there was a detrimental result from reliance on the promise

what are the three required elemets for a valid offer?

1. intention - the offeror must have a serious intention to enter into the agreement 2. definiteness of terms 3. communication - the offeror must communicate the terms of the agreement to the offeree

the main requirements for a valid contract are:

1. offer- made by the offeror 2. acceptance - made by the offeree 3. consideration- what each party gives up under contract

the terms of a contract must include

1. the parties 2. the subject matter of the contract 3. the quality, time of payment, and delivery, if applicable 4. the terms of the performance

what elements are required for an offer to be effective under the common law?

1. the terms must be reasonably definite so that all parties understand them 2. the offeror must intend to be bound by the offer 3. the offer must be communicated to the offeree

a creditor on a liquidated debt of 1 million may agree to take which of the following from the debtor In satisfaction of that debt?

100 cents on the dollar and a horse in exchange for the 1 million that is due

Express Contract

A contract in which the terms of the agreement are stated in words, oral or written.

example of promissory estoppel

Bryan received a job offer from High Tech, Co. The position was supposed to start January 1 and required Bryan to move to a new state. Bryan had other job offers which he turned down and then moved all of his belongings to the new state. He had been in constant contact with the HR department of High Tech and they knew he was ready to begin work. On December 31, however, they notified him that they would no longer need his services. Even if Bryan never signed an employment contract, he may be able to recover the cost of his move and some lost wages under the doctrine of promissory estoppel. Bryan had relied on High Tech's promise of employment. High Tech knew of Bryan's reliance on their promise. And, Bryan suffered both the cost of moving and the loss of the other job opportunities in that reliance.

Once the accord has been created, the original obligation is suspended until the accord terms are performed (i.e., satisfaction occurs). If the terms of the accord are not fully performed, the other party can choose between suing under the original agreement or suing under the terms of the accord. Together, the accord and satisfaction discharge the original contractual obligation. for example...

Daniel has a contractual obligation to pay Tom $10,000 but is unable. Daniel offers to renovate Tom's kitchen to satisfy the $10,000 payment obligation. Tom agrees to this change. This is accord. When Daniel completes the renovation, satisfaction has occurred and the contract has been performed.

preexisting duty example

For example, a neighbor could not say to you he will agree to keep his violent dog in the house or otherwise restrained if you give him $1,000 if local ordinances require that anyway.

example of a contract under the UCC

For example, the contract between Dini Produce Co. and Magnolia Bed & Breakfast includes all relevant information, but does not include the delivery terms. In the past, Dini delivered to Magnolia on Mondays, Wednesdays, and Fridays. Even though the contract did not include all terms, the court could complete the contract, stating the parties reasonably believed the deliveries would occur as they had in the past.

example of a unilateral contract

For example: Bruce says to Mike, "I'll pay you $30 if do a handstand for 15 seconds." Until Mike does a handstand for 15 seconds, no contract has been formed because Mike can only accept by completing the performance. Even partial performance (doing a handstand for 5 seconds) is not sufficient to make a contract, though it may stop Bruce from being able to revoke his offer for the remaining 10 seconds! This is a unilateral contract.

example of executed and executory contracts

For example: Colten and Wyatt make a contract in which Colton agrees to provide Wyatt window washing services for one year in exchange for Wyatt (a lawyer) writing a trust for him. Wyatt completes the trust and Colten begins washing Wyatt's windows. The contract is executed on Wyatt's end, but because Colten has not yet completed his end of the deal the contract overall is still executory. Only at the end of the year, when Colten has completed his part of the bargain, will the contract be fully executed.

example of a bilateral contract:

For example: Timmy says to Eric, "I would like buy your business law textbook for $300." Eric in return says, "Great. That's a deal. I'll deliver it to you on Tuesday." Timmy has made a promise to pay $300 for the book and Eric has made a promise to sell and deliver the book. The exchange of promises makes this a bilateral contract.

Silence as Acceptance

In general, silence is not considered acceptance because society believes no party should be required to speak or to act in order to avoid contractual obligations. Additionally, if the offeree has not spoken or acted to accept, the offeree has not agreed to provide consideration in such a case. Yet in some cases silence can be considered to be acceptance and the offeree has a duty to speak to reject the offer and to deny acceptance

preexisting duty

In most cases, a promise to do something one must do is not consideration such as requirements imposed by laws or previous contracts.

compare and contrast promissory estoppels verses quasi contracts

In some ways promissory estoppel and quasi-contract theories are similar. They both prevent the injustice of breaches of agreements where no valid contract exists. However, they are different in fundamental ways. In promissory estoppel cases, one party relied on the promise of another party. In quasi-contract cases, no promise was made at all. Instead, the plaintiff gave some benefit to the defendant and the plaintiff reasonably expected to get paid.

example of a quasi-contract

Lucy was at home watching movies one Friday night when her doorbell rang. She went to answer it and saw a pizza box on the ground. She picked it up and looked up as the delivery driver waived, got into his car, and left. Lucy never ordered a pizza, but decided since it was here she might as well eat it! Here, the delivery of the pizza to Lucy's house was a mistake, but nonetheless, Lucy ate the pizza. A court could create a quasi-contract here and make Lucy pay the cost of the pizza.

You decide to get a credit card in order to begin building your credit history. It is your first credit card and when you receive the agreement with the credit card company filled with legally complex boilerplate language, you sign it knowing that if you do not, you will not be able to get the card. Buried deep within the terms, however, a discrepancy existed that the credit card company never caught before sending the agreement to customers. One section allowed for the credit card company to raise interest rates as long as it provided users a 30 day notice, but another section stated that interest rates could only be changed once per year. The company has increased your interest rate four times already this year and you decide you have had enough and take them to court. In whose favor will the court interpret the terms of the contract?

The court will rule in your favor because you did not draft the agreement

rejection of offer example:

The offer is terminated when the offeree rejects the offer. This includes counteroffers. Suppose Lindsay states she will buy Lorenzo's Maserati for $10,000, and Lorenzo responds by saying, "No, you can buy my Maserati for $95,000." Lorenzo has rejected Lindsay's offer, and he has made a new offer to Lindsay.

executed contract

a contract that has been fully performed by both parties

accord

a contract to perform an act that will satisfy existing contractual obligaitons

example of a valid offer pt. 2

a detailed advertisement

an agreement will lack consideration if

a person makes a promise in return for an act which has already taken place

in a bilateral contract, the consideration which supports the forming of the contract is

a promise to perform

If an individual shopping for groceries opens a bottle of water from their cart and drinks it before they have paid for their items...

a quasi-contract has been created

what conditions must be met for an offer to be legally accepted?

acceptance must be unequivocal with no requests for changes in the offer and it may only be accepted by the intended offeree or the offeree's agent

Alfred is having trouble with his car so he visits his friend Glen, who is a mechanic, for some free advice. Alfred asks Glen just to look at the car and determine what is wrong, but not to fix it. Glen looks at the car, determines the problem, and repairs the car using parts and materials he already had in his garage. Alfred takes the car out for a test drive, and it performs better than it ever has. Alfred tells Glen that because Glen fixed his car, when Alfred gets paid again he will buy Glen the new torque wrench that Glen has been wanting. A week later, Glen asks Alfred about the torque wrench, and Alfred tells Glen that he has changed his mind. If Glen sues Alfred to enforce his promise to buy Glen the torque wrench:

alfred will win because the act of repairing alfred's car is past consideration, and therefore no valid contract was formed

Maryanne offers to sell her 2015 Mustang convertible to April for $15,000, and April agrees to those terms. April brings the $15,000 to Maryanne, and Maryanne promises to deliver the Mustang to April the next day after she has it detailed. At this point, Maryanne and April have:

an executory contract

defendant

an individual or group being sued or charged with a crime

past consideration

an offer for something given in the past as the basis for a future contract is not valid consideration

termination by law

an offer is terminated by law due to lapse of time, destruction of the subject matter of the contract, death or incompetence of the parties, and illegality of the contract

how may an offer be terminated?

an offeror may terminate an offer by revocation, a reasonable amount of time has passed, and the offeree may make a counteroffer

Jones Construction Company is building a series of new subdivisions in Newtown over the next two years. Jones enters into a verbal agreement with Harley Concrete Inc. to construct all the driveways and sidewalks in the subdivisions that Jones will be building. Jones and Harley agree on a price of $130 per cubic yard and that Jones will pay Harley at the end of each project. Harley completes the first project, which is four sidewalks and sixteen driveways, and bills Jones for the project. Jones decides that the price is too high and refuses to pay, claiming that they have no obligation to pay because the parties did not have a valid contract. If Harley sues Jones for payment the court would probably:

apply quasi contract theory and award the fair market value of the work that Harley completed.

executory contract

contract not fully performed on both sides

In general, certain terms must be included in contracts to satisfy the requirement of definiteness. What are the exceptions to this rule?

courts can complete a contract to supply some missing items and sales contracts unde4r the ucc

bargained for exchange

each party negotiates and agrees to give and take something of comparable value

carol and Al enter into a contract for the sale of a painting. Carol pays al the asking price and al delivers the painting the carol. this contract is a......

executed contract

quon and bert have signed a contract for bert to mow quon's grass every week in june, july, and august for a price of $40 per week. they have agreed to all the necessary terms, but bert has not yet mowed because it is still may. What type of contract do they have?

executory

don and kim have entered into a contract for the purchase of a car. Don has paid money for the car, but kim has not yet delivered it. this is an...... (contracts)

executory contract

browsewrap terms

exists when a party posts terms on a website or includes a hyperlink in other information without requiring users to click on a button or complete any other action. courts can chose to enforce these terms when the party gives users reasonable notice and reasonable access to those terms

Quon decides to sell his antique roadster, so he places an ad on Craigslist. He lists the roadster as a 1957 Mercedes Benz 300SL Roadster, describes it as in good working condition, and states that no reasonable price will be refused. Fern responds to the ad and offers to pay $25,000 to Quon for the car, which Quon agrees to. In this scenario, who is the offeror?

fern is the offeror

Mia contracted with Greencare Lawn Service for a pest treatment on Mia's lawn for $1,000. Pat lives next door to Mia. Greencare mistakenly treats Pat's lawn instead of Mia's. Pat watched them perform the treatment while looking through the window of his living room, but did not go outside and stop them. When Greencare seeks payment from Pat, Greencare can probably receive:

from Pat an amount less than the contract amount that will reimburse Greencare for expenses incurred, in order to avoid unjust enrichment

adequacy of consideration

in general, courts do not question the value of the consideration exchanged. In most cases, courts, will let the parties decide what the property or services are worth and will even allow some parties to make an imprudent deal

which of the following distinguishes promissory estoppel cases from quasi-contract cases?

in promissory estoppel cases there is a promises and in quasi-contract cases there is not

when ambiguity in a contract's language exists, a court will

interpret the terms against the drafting party

what is a quasi contract?

it is not an actual contract created by two parties, but it is one imposed by law, they are used for when there was no physical contract drafted

Geraldo is the owner/manager of Geraldo's Cleaning Service, a firm that cleans office building. Geraldo has a team of seven employees who do a fantastic job. To encourage them to keep up the good work, Geraldo tells his employees that if they continue to work hard until the end of the quarter and if he is pleased with his profits at the end of the quarter, he will give them each a $100 bonus. At the end of the quarter, the company's profits were extremely high. Will Geraldo have to make good on his promise of a $100 bonus for each employee?

no, geraldo will not have to award the bonuses because his offer of a 100 bonus if he is pleased with his profits was an illusory promise

Anna purchases a wedding dress and takes the dress to Jessica for alteration. Anna and Jessica agree that Anna will pay Jessica $75 for the alterations. After Jessica begins working on the dress, she has second thoughts. Jessica contacts Anna and advises her that the alterations will cost $150 instead of $75. Because Anna's wedding is in just two weeks, Anna reluctantly agrees. Once the alterations are completed, Anna pays Jessica the $75 originally agreed on. Is Jessica entitled to the additional $75?

no, jessica is not entitled to the additional $75 because there is no additional consideration for the revision to the contract

what factors make an agreement enforceable under the principle of quasi-contract?

one party is being enriched at the expense of the other and the enriched party knows about the benefits and keeps it

which situation would be considered sufficient consideration for a contract to exist?

pam agrees to pay derek 500 if he doesnt sit next to her in class tmr

Doctrine of Promissory Estoppel

prevents defendants from claiming the plaintiff is not entitled to any remedy because there is no contract, when it is clear that the plaintiff was harmed due to their reliance on the defendant's promise. Instead, the defendant is prevented (estopped) from denying that a promise was made and the plaintiff is granted a remedy based on that promise.

What factors are used to judge if consideration is adequate to ensure a fair bargain?

promises must be made with voluntary consent and promises exchanged may not be a pre existing duty

what are enforceable promises/enforceable agreements?

promises that can be enforced when consideration is lacking

if two parties have an ongoing oral agreement that one will ship and the other will accept 50 pounds of produce each week unless the buyer informs the seller one week before not ot ship the next order, then the buyer's failure to speak up and tell the shipper not to send the produce:

qualifies as acceptance of that week's delivery offer

what are the elements of consideration

something of value from each party and am exchange to which the parties agree

In a unilateral contract

substantially undertaking performance prevents the offeror from revoking the offer

the terms of the offer must be ________________________ so the parties and a court can understand the terms. the specific terms required depend on the type of contract

sufficiently definite

The weekly Kroger advertisement states that five-pound chubs of ground chuck are available for eighty-nine cents per pound. Arlene sees the advertisement; she realizes that ground chuck has not been priced this low in quite some time, so she hurries to the store to purchase some. Arlene loads seven chubs of ground chuck in her shopping cart. When she goes to the checkout to pay, however, the cashier informs Arlene that the price in the advertisement is a typo and that the correct price is $1.89 per pound. Arlene insists that the store must honor the price listed in the advertisement, because it is an offer that she has just accepted. The cashier calls the store manager for a decision. The store manager will likely explain to Arlene:

that the advertisement is a valid offer, and the store must honor the price in the advertisement

Milo is the owner of a sporting goods store that has only been open for three months. The holiday season is coming up, and Milo realizes that he will need extra help. Milo asks his friend Jess to help him out at the store. Milo and Jess agree that Jess will work during the months of November and December. However, because Milo is unsure how much help he will need and how much he will be able to pay, they agree to decide each week on the hours that Jess will work for the following week, and to decide the hourly rate after Jess has worked two weeks before she receives her first paycheck. Just before November 1, Jess takes a job at another store. If Milo tries to sue Jess for breach of contract, the court will probably decide:

that the parties had a contract but the damages could not be ascertained because the hourly rate and number of hours had not been determined

how can the legal concepts of accord and satisfaction apply to negotiable instruments?

the UCC provides debtors a way to prove accord and satisfaction and the parties can agree to discharge the instrument for less than the state amount

revocation

the offeror can revoke the offer before the offeree accepts

how may a revocable offer effectively be revoked?

the offeror may take an action that contradicts the offer and make that known to the offeree or the offeror may withdraw the offer with a clear expression

why would parties use accord and satisfaction regarding a negotiable instrument?

the parties could wish to end the obligation without further conflict or the parties might wish to avoid a lawsuit

under the UETA, if a party does not follow the security procedures and then fails to detect an error, what happens?

the party who followed the procedures can avoid the effect of the error

satisfaction

the performance of an accord agreement

Who are quasi contracts not available to?

those who provide services for unwilling recipients, these parties chose to do the unrequested work hoping to be paid. example: For example, sometimes parties will wash the windshields of stopped cars or paint address numbers on curbs and then ask the recipients for compensation after doing the work. No court will support that kind of activity with compensation through a quasi-contract

what is the intent of negotiable instruments?

to serve as a substitute for cash, but with the freedom of transfer that cash also provides. they are documents that parties can transfer or share

What is the term for a contract agreement in which an offeror promises ot pay after the occurence of a specified act, and the offeree is not required to respond in words?

unilateral contract

contests, lotteries, and competitions with prizes are common examples of:

unilateral contracts

in order for an accord and satisfaction to be valid, the debt must be

unliquidated

two elements of consideration

value and bargained-for exchange

if a buyer agrees to purchase "all the widgets I require" and the seller agrees to sell him 'all the widgets you require" is there sufficient consideration?

yes because this is a requirement contract

Robert inherited lots of antique tools when his father died. Because Robert is not interested in woodworking, he decides to sell several of the tools. Robert agrees to sell an antique hand-held wood planer to Geoffrey for $50. After agreeing to the deal, Robert discovers that the planer is a pre-WWII Norris Jointer Planer worth over $5,000, and refuses to sell the planer to Geoffrey. Can Geoffrey enforce the deal?

yes geoffrey can enforce the deal because the contract contained valid consideration