BLAW HW Test 2

Sometimes a party makes misrepresentations, which if untrue, could constitute a material misrepresentation. Which of the following fits that description?

"This car has a new engine"

Sid makes a material representation of fact regarding his car to Barbara while out driving one day. The next day, Barbara calls Sid and offers to buy his car. Sid accepts Barbara's offer without correcting the misrepresentation of fact that he made the previous day. What is the effect of the material representation on the agreement between Sid and Barbara?

Barbara may avoid the contract

BidOil promises Gasnow as many barrels of oil as they shall chose at $50 per barrel. In this case:

BigOil has made an illusory promise

Susie told Kelley, "If you wash my car, I promise to pay you 20 dollars." Kelley replies, " OK- I promise to wash your car." This exchange is an example of:

Bilateral contract

How do parties usually show mutual assent?

By one party making an offer in words or by conduct and the other party accepting in words or by conduct

________ is what each party to a contract gives up to the other in making their agreement

Consideration

Which of the following will terminate an offer?

Destruction of the subject matter of the offer

Suppose that Jack, Hal, and Sophia enter into an agreement in regards to the sale of the restaurant. The contract includes the non-competition agreement. A few months later, Jack decides that he will sell the frozen food in violation of non-competition agreement, unless if Hal and Sophia agree to pay him an extra $100,000. Hal and Sophia agree, since they do not want to fight. Six months later, however, they still have not paid and Jack sues. What is the result?

Hal and Sophia would win, since Jack already had a prior existing legal duty to not compete with them

Bill offers to sell his house to harry for $90,000. Harry tells Bill he will buy the house for $90,000 if Bill will fix the roof. Which statement is true?

Harry has made a counteroffer. Unless Bill accepts the counteroffer, there is not contract

Bill offers to sell his house to Harry for $90,000. Harry tells Bill he will buy the house for $90,000 if Bill will fix the roof. Bill says he is not interested in fixing the roof. Harry then tells Bill he will still buy the house. Bill tells Harry the house is no longer for sale to Harry. Which statement is true?

Harry's counteroffer terminated Bill's offer, and Bill's rejection of both Harry's counteroffer ($90,000 plus fix the roof) and offer ($90,000) leave Bill free to make a new offer to sell the house to anyone he chooses, including Harry, and under any terms he chooses as long as the terms are not illegal

Chase and Tyler are best friends and fellow police officers. One day, Chase came home with a brand new, top-of-the-line Ford F-150 4x4 pickup valued at $38,000 and showed it to Tyler. Tyler told Chase that he wanted a truck just like his. Jokingly, Chase says, "Sure thing, buddy. I'll sell you my new pickup for $100 and a six-pack of beer!" If Tyler seeks to accept Chase's offer, what is Chase's best defense?

Chase intended the offer as a joke and a reasonable person would understand it to be a joke

Which is NOT correct about the UCC's "Battle of the Forms" rule?

The UCC battle of the forms rule is what common law calls the mirror image rule

Sergio buys an LED television from The Television Superstore in Sacramento, California. What law governs this transaction?

The Uniform Commercial Code (UCC)

Betty is looking at the grocery ads in the newspaper and sees that canned tuna is on sale for 6 cents. Because this is an amazingly low price, she rushes off to the grocery store. She loads 10 cans into her cart, goes to the checkout counter and hands the cashier 60 cents. The cashier asks for $6.90 and tells her that the tuna is 69 cents per can and that the ad was a misprint. Betty demands that the tuna be sold to her for 6 cents a can. Which of the following statements about the ad is correct?

The ad is an invitation for others to make offers. Betty has made an offer to buy the tuna for 6 cents a can and the grocer has rejected Betty's offer, but countered with an offer to sell it to Betty for 69 cents per can

Stephanie induces Wanda to purchase 100 shares in Zazzy Corporation at a price of $100 per share. Stephanie tells Wanda that she paid $150 for them the previous month. In fact Stephanie only paid $50. How can this representation of a past event be characterized?

The representation of a past event is a misrepresentation of fact

Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?

The sale of new furniture

Darryl contracted with Right Builders to build an addition to his house for $25,000. After digging the foundation, Darryl decides he wants to have the house done earlier than was originally agreed. Right Builders agree, but say that it will need to charge an additional $5,000 for the job. Assuming Darryl agrees, which of the following is correct?

This is a modification of a preexisting contract, but Right Builders has provided additional consideration since they are expediting the completion of the project

When is there an effective acceptance of an offer to enter in a unilateral contract?

When the offeree has fully performed what was asked of him in the offer

In the Maroun v. Wyreless Systems, Inc. case, the court considered which of the following reason to grant summary judgment in Wyreless Systems' favor?

Wyreless Systems' complained of statements by Maroun were based on future events, and thus could not be a basis of misrepresentation

Sonny promises Maria not to foreclose for a period of six months on a mortgage that Sonny owns on Maria's real property. Relying on this promise, Maria begins to build a home on the land. If Sonny forecloses in two months, can Maria seek to enforce Sonny's promise?

Yes, Sonny made a non-contractual promise and Maria reasonably relied on such promise and began building a home on the land

Suppose that Jack makes an offer to sell the restaurant on July 10th. Hal and Sophia decide to think it over. On July 15th, they mail a letter of acceptance to Jack. On July 16th, Hal and Sophia change their mind and call Jack, stating that they do not want to purchase the business. On July 20th, Jack receives the letter of acceptance. Would there be a valid contract?

Yes, a valid contract was formed on July 15th when the letter of acceptance was sent

Suppose at the end of the meeting, Jack makes an offer regarding the restaurant buyout, which includes the non-competition agreement. Prior to Hal and Sophia agreeing to the offer however, Jack changes his mind. Can he do so?

Yes, as long as he actually communicates the revocation to Hal and Sophia (or their agent) prior to acceptance

Maggie owns a valuable show dog, which she knows is suffering from a disease only discoverable by a competent veterinarian. Maggie offers to sell this show dog to Naomi but does not inform her about the dog's condition. Naomi, who is not a veterinarian, makes a reasonable examination of the dog and concludes that the dog is in normal condition and purchases it from Maggie. If Naomi later discovers that the show dog suffers from the disease, can he have the sale set aside?

Yes, because the dog has a hidden defect that would not be discovered in an ordinary examination and Maggie has failed to disclose it

Ignoring issues of the statute of frauds, is there a contract for the sale of Vinnys Celica?

Yes, between Vinny and Oscar for $5,000 cash, since that was the first offer accepted

Assuming a court did find there was a valid offer, if there was an action brought against the store, would Vinny's mistake of giving the newspaper the wrong price relieve the store of liability?

Yes, since the mistake would be obvious to a reasonable person.

In the case of Denney vs. Reppert, did the court allow the employees of a bank to collect a reward, because they supplied information that led to the arrest and conviction of a man who robbed the bank?

Yes, the banks wants to encourage other employees to step forward in the future

To establish fraud, the misrepresentation must have been known by the one making it to be false and must be made with an intent to deceive. That knowledge is known as:

a scienter

Which of the following is NOT always necessary in order for a valid contract tp be formed?

a writing

Suppose that Jack, Sophia, and Hal enter into a contract to close on the business without the non-competition agreement. Jack states that he would probably sign the non-competition agreement if they included an extra $100,000. A month later, Hal and Sophia bring Jack $100,000. What is the result?

If Jack does not accept the $100,000, there is a valid contract for the sale of the business, without a non-competition clause

When might a contract might be unenforceable?

If the statute of limitations has passed

Suppose that Jack, Hal, and Sophia enter into an agreement for the sale of the restaurant, with Jack stating in the agreement that if he feels comfortable with his finances in his retirement, that he will not sell the frozen food in competition with the restaurant. After the sale, the stock market rises considerably, and Jack's net worth quadruples. He still decides to sell the frozen food. Hal and Sophia sue. What is the result?

Jack would win since the promise not to compete was illusory

Jose offers to sell George his iPad 3 for $150 and explains that George has five days to accept. After three days, Jose accidentally drops his iPad 3 from his third-floor apartment balcony, shattering it into tiny pieces. On the fourth day, George, who does not know that the iPad was shattered, notifies Jose that he accepts the offer. Do Jose and George have a valid contract?

No, the destruction of the iPad terminated Jose's offer

gnore Vinny's agreement with Oscar and assume that Vinny and Maria had an otherwise valid contract. Could Maria avoid her obligations if she finds out the car does not have air conditioning?

No, the only condition in her acceptance was that it pass a smog inspection

The Acme Corporation contracts with the ToysandMoretoys Corporation to sell to ToysandMoretoys its entire production. After signing the agreement, if Acme increases its production from one shift to two shifts will ToysandMoretoys have to buy all of the doubled production?

No, there are good faith limitations on output contracts

Leo tells Nora "I promise to pay you $5,000 next year." Next year, Leo fails to pay Nora and Nora sues. Is Leo's promise enforceable?

No, this promise is unsupported by consideration No, because Nora is not undertaking anything to her legal detriment No, because Leo's promise is a gratuitous promise made without consideration ALL of these are correct

The Jones' have always admired a house that sits on the top of a hill owned by the Smiths. Martin is a mutual friend of both the Jones and the Smiths. One day, Martin mentions to the Smiths how much the Jones would love to buy the Smith home. The Smiths say that if they sell the house, they would be happy to sell it to the Jones. Martin relays this conversation to the Jones and the Jones immediately call the Smiths to accept the Smith's offer to sell. Have Smiths made an offer to sell their home to the Jones?

No. The smiths did not objectively intend to make an offer because they did not clearly state they were willing to sell the house. No. The smiths did not include a selling price in their conversation with Martin so the offer would fail for lack of specificity and definiteness

Sam emailed Bob offering to sell him his 1970 Corvette for $7,000. Later, Sam finds out 1970 Corvettes which are in excellent condition and have all the original parts sell for closer to $57,000. He changes his mind about selling his Corvette to Sam for $7,000. Which of the following statements about the offer is correct?

Sam can revoke his offer to bob at any time so long as there is still an offer to revoke

Sam emailed Bob offering to sell him his 1970 Corvette for $7,000 and also said that he would give Bob two weeks to accept Sam's offer before he started advertising the Corvette for sale. One week later, Bob learns that Sam has sold his 1970 Corvette to Terry. Which of the following statements about the offer is correct?

Sam's action of selling the car to Terry is a revocation of his offer to Bob

All of the following will serve as adequate consideration except?

an illusory promise

Another name for a quasi contract is

an implied in law contarct

Contracts that are implied in law:

are obligations imposed by law on grounds of justice and equity

A person is not entitled to relief from fraud, unless she can show that she:

justifiably relied on the misrepresentation

An offer for the sale of goods under the UCC:

must include the quantity

Aaron's boss offers to pay him $500 if he will pretend he is sick so that he does not have to show up for jury duty, but will go to work instead. Aaron knows that this is against the law, but he would rather be paid $500 from his boss than the $30 that the court will pay him for jury duty. Aaron calls in sick and is excused from jury duty. This agreement between Aaron and his boss is:

not a contract

As an exception to the rule on courts inquiring as to the adequacy of the consideration, a court will take evidence to establish:

one party claims to have been defrauded

Joe takes his car into the repair shop to have his tires realigned. While he is waiting for his car, he sees the repairmen take his car to the area where they change the car's oil. Joe tries to get their attention but cannot because he is not allowed in the repair area and there is too much noise in there for the repairmen to hear him knocking on the window. The car is then taken to the area where the tires are realigned. Joe watches while the tires are realigned. The employees next take Joe's car to be washed. Joe asks another customer in the waiting room if the car wash is complimentary (free). The customer points to the sign above the counter listing prices for services, including the car wash. Joe does not bother trying to get the attention of the repairmen because he was not successful before, but he does approach the cashier who has just returned from break. Joe tells the cashier he did not want the car washed. The cashier tells him it is too late because the car is already being washed. When Joe is presented with the bill, there is a charge for the oil change, the realignment, and the car wash. If challenged in court, the court will most likely require Joe to pay for:

only the realignment because that is all he contracted for

A contract based on ______ is not enforceable

past consideration.

Any property other than an interest in real property is:

personal property

Patrick held a baseball bat to Eric's head to compel him to sign a contract advantageous to Patrick. This contract was entered under:

physical duress

If a court found that Joe (or Pharzime) committed fraud in inducement to their contracts, to what remedy or remedies is the aggrieved party entitled?

rescission and damages, if out of pocket expenses were incurred as a result of the fraud

Molly signs a contract with a publishing company to edit text manuscripts. This contract is governed by:

state common law

The mirror image rule relates to which required element of contract?

the acceptance

Baxter, a plumber, wants to submit a bid on a city sewer project. He computes the cost, but mistakenly omits the cost of one item. Accordingly, he submits a bid of $430,000 to the city. The next highest bid is $675,000, and the rest of the bids are even higher. The city is happy to have such a low bid, so it accepts Baxter's bid and awards him the contract for the job, even though the city engineer is of the opinion the job cannot be done for less than $650,000. In this case:

the city was aware of Baxter's mistake. When it accepted the bid, with knowledge of Baxter's mistake, the city sought to take an unconscionable advantage of Baxter's error

Francisco is a concert violinist who is scheduled to perform at the Kennedy Center for the first time. He buys what he is told is a Stradivarius violin from a well-known, reputable dealer in quality violins, and he pays the going rate for a Stradivarius. He later learns the violin is an imitation, sold by the dealer who was trying to make quick money. In this case:

the dealer has committed fraud in the inducement

One issue before the court in Neugebauer vs. Neugebauer case was:

whether the real estate contract in the case should be rescinded on the grounds of undue influence

Who would likely be considered a merchant under the UCC with respect to the goods in question?

An authorized Apple computer dealer selling accessories for Apple computers and Apple-related products

which of the following cannot be revoked?

An offer to pay the high school student next door if he takes in your mail when you go on vacation regardless of whether he promises to take in the mail, if the revocation is prior to leaving for vacation. An offer to pay the high school student next door if he will take in your mail when you go on vacation regardless of whether he promises to take in the mail, if the revocation is before any mail has been delivered. An offer to pay the high school student next door if he will take in your mail when you go on vacation regardless of whether he promises to take in the mail, if the revocation is before your return from vacation but after he has collected your mail for all the days that you have been on vacation up until the revocation. OR none of these are correct

A convenience store robbery has occurred. The merchant's association has offered a $2,000 reward for information leading to the arrest and conviction of the robber. Several people are claiming they are entitled to the money. Which of the following people would not be eligible for the reward?

An on-duty sheriffs deputy in the county where the arrest occurred

Annie wants to buy a vehicle that will tow a camper. She gives the specific measurements and weight of the trailer to the salesman. The salesman tells her that the SUV Annie sees on the car lot would be just perfect to tow the trailer. Annie test drives the vehicle and then buys it. In this case:

Annie was not justified in relying upon the salesman's representation that the car would tow the trailer

Which of the following offers cannot be revoked?

Any offer by a merchant under the UCC Any offer that is in writing that promises to leave the offer open for three months or less Any offer that is in writing, signed, and promises to leave the offer open whether it is made by a merchant or not

Debra delivers a package to Jackie and requests Jackie to sign a receipt for the package, holds out a simple sheet of paper that says "Receipt," and shows a line where Jackie is supposed to sign. The line, which appears to be at the bottom of the receipt, is actually a promissory note for a $10,000 loan. Jackie signed the line, as indicated by Debra and did not know that she was signing a note. This scenario is an example of:

fraud in the execution

Vince has lost his job and is having difficulty making ends meet. Last week, the bank repossessed Vince's car. He is telling his neighbor Paul about his bad luck and Paul says he wishes he could help Vince. Paul suggests that maybe Vince could have the old car sitting in Paul's garage if Vince could get it to run. He ends the conversation by saying "Let me think about it." The next day while Paul is at work, Vince goes into Paul's garage and begins working on the old car. He gets it running and drives it out of Paul's garage and into Vince's driveway. When Paul gets home from work, Vince shows Paul the car and asks him for the title to the car. Paul tells Vince he had not made up his mind about whether or not he would give Vince the car. Vince:

has no claim to the car because Paul did not make a promise.

Retail stores typically put advertisements in newspapers describing goods and stating prices. These ads are generally considered to be:

invitations to buyers to make an offer to buy the goods described

The doctrine of promissory estoppel:

is a doctrine that relies on justice and not contractual rights.

Sometimes the law imposes a duty of disclosure. When a fiduciary is silent, silence may constitute fraud. A fiduciary is one who:

is in a confidential relationship who owes a duty of truss and loyalty to another

Bill faxes Harry an offer at 9 a.m. on Monday and the fax arrives at Harry's office at 9:02 a.m. Monday. Because Harry is taking a vacation day on Monday, he does not read the fax until Tuesday at noon. Harry decides to accept Bill's offer and tells his assistant at 3 p.m. Tuesday to prepare an acceptance for his signature. The acceptance is placed on Harry's desk at 4:45 p.m. Tuesday. Harry signs the acceptance and gives it to his assistant to fax back to Bill at 9 a.m. Wednesday. The assistant does so immediately; however, due to malfunctioning of Bill's fax machine, Bill does not receive Harry's acceptance until Friday morning. The offer is effective at __________ and the acceptance is effective at __________.

9:02 Monday; approximately 9 a.m. Wednesday

In some situations the courts will enforce new promises to perform an obligation that originally was not enforceable. Which of the following would be that sort of promise?

A new promise to pay a debt barred by the statute of limitations

Assuming an otherwise valid offer, which of the following would be Melnick's best argument in trying to enforce a contract for the sale of three peppers for two cents?

A unilateral mistake does not relieve the party who made the mistake from contract liability

Which of the following is required in order to recover in quasi contract?

Acceptance or retention of a benefit conferred on the defendant by the plaintiff

Furniture Store runs an ad in the local Sunday newspaper announcing a special Veteran's Day offer of a free Brandname chairside table to the first three veterans who come into the store on Veteran's Day. The ad states the price of the table, the dimensions, the SKU#, and what the table is made of. Other parts of the ad indicate the store's location and its hours. Joe is a Veteran. He goes to the store on Veteran's Day, but he arrives after the hours listed in the ad and the store has closed. Joe sticks a post-it on the store door saying that he is a veteran and wants the table. Which of the following statements is correct about his offer?

According to the court in Osprey L.L.C. v. Kelly-Moore Paint Co., Inc., Joe's sticking a the post-it on the door of the store is not the authorized means of accepting the store's offer and is not likely be considered a sufficient substitute for the ad's requirement that the offer be accepted by coming into the store because it does not ensure that the offeror will receive the acceptance at all and it does not ensure that the acceptance will be received before the offer has expired by its terms.

If an offer has no stated time by which it must be accepted, when does the offer terminate?

After a reasonable period of time

Which of the following, if any, are requisites for fraud in the execution?

False representation as to the very nature of the contract Signing party does not know the character or essential terms of the contract Renders the transaction void All of these are correct

__________ is an intentional misrepresentation of material fact by one party to the other, who consents to enter into a contract in justifiable reliance on the misrepresentation. Fraud in the inducement renders the contract __________ by the defrauded party.

Fraud in the inducement; voidable

Jamal negligently injures Gayle, for which Gayle may recover damages in a tort action. Jamal promises Gayle $10,000 if Gayle forbears from bring suit against him. Gayle accepts by not suing. What legal detriment, if any, has Gayle incurred in this case?

Gayle promised tp refrain from bringing suit against Jamal

________ is an unenforceable promise under the law on contract because of a lack of consideration

Gift

The law very carefully scrutinizes contracts between those in a relationship of trust and confidence that is likely to permit one party to take unfair advantage of the other. Which of the following is not an example of that type of relationship?

Hair dresser and client

Furniture Store runs an ad in the local Sunday newspaper announcing a special sale on a Brandname chairside table. The ad states the price of the table, the dimensions, the SKU#, and what the table is made of. Other parts of the ad indicate the store's location, the hours, and a website where purchases may be made online. Joe goes online and places an order for the table. Two months later, Furniture Store sends Joe an email notifying Joe of the store's acceptance of his order and charges his account. Joe no longer wants the table. According to the court in Sherrod v. Kidd:

Joe is not likely to be contractually bound to this purchase because two months is likely to be more than a reasonable amount of time within which the store had to accept Joe's offer.

________ means doing that which the promise was under no prior legal obligation to do

Legal detriment

Mike, a 75-year-old mechanic, returned Carrie her car after fixing the brakes. Mike told Carrie: "I put some new brakes on her—she should brake with complete ease!" When Carrie drives away, she cannot stop her car and crashes into a dumpster. It is later discovered that Mike failed to reconnect one of the brake lines. There is no indication that Mike knew that he failed to reconnect the brake line. If Carrie sues Mike for fraud, and the court sides with Mike, what would be the court's reason?

Mike lacked scienter because he did not make the statement with the intent to deceive

Ned's father orally promises to give him a car for his twenty-first birthday. Using the rule in most states, can Ned legally enforce this promise?

No, a gratuitous (or gift) promise is unenforceable

Daniel is a self-made millionaire, but he has been medically committed to a mental health facility. A court also ordered Daniel's sister, Michelle, to preside over Daniel's business affairs. Once inside the mental health facility, Daniel befriends his nurse, Amanda. One day, Amanda tells Daniel about her invention to help identify stray dogs and cats. Daniel was so impressed by Amanda's invention that he offers to buy it for $500,000. Amanda accepts Daniel's offer. Did Daniel and Amanda form a contract?

No, because Daniel lacks the capacity to contract

Mary induces James to enter into a contract. James subsequently discovers that Mary intentionally misrepresented the terms of their contract. Upon this discovery, James tells Mary that he will not perform his promise under the contract. If Mary sues James for breach of contract, will Mary win?

No, because Mary induced James into the contract by fraudulent misrepresentations, which makes the contract voidable

Alan finds Marcia's dog on the side of the road. He then takes the dog home and treats the dog's injuries. When he calls Marcia to tell her he has found the dog, she promises to reimburse Alan for the cost of treating the dog. Is Marcia's promise binding?

No, because there was no bargained-for exchange

Andrew received a bill for $500 from Jeff for a tune-up Jeff performed on Andrew's SUV. Andrew called Jeff and told him, "The car runs no better now than before the tune-up. I am sending you $200 and no more." Jeff received the $200 check which was marked "paid in full SUV repair" and cashed it. Is Andrew still liable to Jeff for the remaining $300?

No, if the check is marked "paid in full" and references the transaction

In the case of Berardi v. Meadowbrook Mall Company, the court found economic duress, such as that found renders a contract void. Is this statement correct?

No, the court affirmed the summary judgement

If Joe introduces himself as Dr. Early to sell to Gensol, knowing that people will assume that he was a medical doctor, but he never tells anyone that he is, would contracts entered into be considered fraudulent?

Probably not, because there is no statement of a material fact since he did not say he was a medical doctor

Which of the following can be consideration for a promise?

Refraining from smoking cigarettes

Billy freely agrees to sell Roger a painting for $100. Billy thinks the painting is ugly and a piece of junk. Neither Billy nor Roger are art aficionados or knowledgeable about art. After the sale is made, however, Billy discovers that the painting is worth $10,000. If Billy tries to void his agreement for lack of consideration with Roger and loses, what would be the best reason under these facts?

The consideration, although disproportionate, is nevertheless adequate because he was done freely

Which of the following would be material to the sale of a racehorse?

The horse's running time in the last race was the fastest in the circuit

What is a requirement of an express contract?

The terms are started in words

Suppose that Jack states that he would sell the restaurant with the non-competition agreement for an extra $100,000. Hal and Sophia say they will buy the restaurant, but will only pay an extra $75,000 for the non-competition agreement. Jack says no to this counteroffer. Hal and Sophia then say they will pay $100,000 for the non-competition agreement. Do they now have a valid contract?

There would be no valid contract

Sam agrees to sell Gina a BMW automobile, both believe to be inoperable, purely for parts. The contract price is $500. Prior to the delivery of the BMW, Sam discovers that the car was simply out of fuel, runs like a dream, and refuses to deliver the automobile to Gina. The value of the operable BMW is now at $3,000. If the court allows Sam to rescind the contract, what would be the reason?

This is a case of material mistake by both parties

Sam agrees to sell Gina a BMW automobile, both believe to be inoperable, purely for parts. The contract price is $500. Prior to the delivery of the BMW, Sam discovers that the car was simply out of fuel, runs like a dream, and refuses to deliver the automobile to Gina. The value of the operable BMW is now at $3,000. if the court allows Sam to rescind the contract, what would be the reason?

This is a case of material mistake by both parties

Susie told Kelly, "If you wash my car, I promise to pay you $20." Kelly does not reply. This exchange is an example of:

Unilateral contract

In Dilorenzo vs. valve and Primer Corporation, the court considered which of the following issues?

whether DiLorenzo supplied consideration in exchange for the stock option

Ordinarily, courts do not consider the ______ of the consideration given for a promise

adequacy

According to general contract law, the _______ must be the ______ of the offer

acceptance, mirror image

If both parties exchange promises, the contract is:

bilateral

For purposes of general contract law (common law), an offer must: q

be sufficiently definite and certain

To be effective, an offer must:

be communicated to the offeree

Contracts induced by threats of ______ are not voidable, unlike threats of _______ regardless pf whether the coerced party had committed an unlawful act

civil prosecution;. criminal prosecution

One issue before the court in New England Rock Service, Inc vs. Empire Paving Inc. case was:

whether the modified agreement between NER and Empire was valid and enforceable as supported by sufficient consideration

A resulting contract is void when it is brought about by:

fraud in the execution

If a court was to consider whether Joe (or Pharzime) committed fraud in their contracts, what of the following elements would not need to be proven?

damages

The fact that the consideration turns out to be disappointing ________ the binding character of the contract

does not affect

A person should not be held to an agreement he has not entered voluntarily. Accordingly, the law will not enforce any contract induced by:

duress

Bill enters into a contract with Harry. The terms are that Bill will build an addition to Harry's home, replace the roof on Harry's garage, and make repave Harry's driveway in exchange for Bill's payment to Harry of several thousand dollars once all of the projects have been completed. If the driveway repavement has not yet been completed, but the addition and the roof have been completed, which term describes the type of contract in existence?

executory

Furniture Store runs an ad in the local Sunday newspaper announcing a special sale on a Brandname chairside table. The ad states the price of the table, the dimensions, the SKU#, and what the table is made of. Other parts of the ad indicate the store's location, the hours, and a website where purchases may be made online. Joe goes to the store to purchase the table but sees another very similar table that is not on sale ("the regularly priced table"). He offers to buy the regularly priced table from the store for the sale price of the Brandname table. The store says that it cannot sell it at the sale price, but it can sell it for 10% off the listed price. Joe says that is too much money to spend for the regularly priced table. Joe continues to shop around. Seeing nothing he likes, he decides to buy the regularly priced table for 10% off. When he goes to pay for the table, the store charges him full price. If challenged in court, the court is most likely to:

find that the Joe's initial rejection of the store's offer to sell the regularly price table for 10% off effectively terminated that offer; that Joe is now making an offer to purchase the regularly priced table for 10% less than the asking price; and the store is free to accept or reject Joe's offer.

Joe takes his car into the repair shop to have his tires realigned. While he is waiting for his car, he sees the repairmen take his car to the area where they change the car's oil. Joe says nothing as he is hoping he can get a free oil change. Joe watches while the oil in his car is changed. The car is then taken to the area where the tires are realigned. Joe watches while the tires are realigned. The employees next take Joe's car to be washed. Joe did not know his car would be washed, but knows that many car repair businesses have a practice of cleaning the cars at no additional cost to the customer after completing the repair work. When Joe is presented with the bill, there is a charge for the oil change, the realignment, and the car wash.If challenged in court, the court is most likely to make Joe pay for:

the realignment because that is what he contracted for and the oil change under the doctrine of quasi contract

Joe sends for a MBA catalog from State University. According to the catalog, the MBA applications are evaluated on the basis of undergraduate grades, GMAT (the appropriate standardized test) scores, and references. Joe has a 3.1 GPA, scores very well on the GMAT, and has excellent references. Based on the criteria listed in the catalog, Joe applies and pays the $100 application fee. His application is rejected. Later he finds out that others with low grades and test scores were accepted based on their family connections with the University. If Joe followed all of the guidelines in the college catalog and paid the required application fee, then according to the court in Steinberg v. Chicago Medical School:

there is a valid contract

Joe sends for a MBA catalog from State University. According to the catalog, the MBA applications are evaluated on the basis of undergraduate grades, GMAT (the appropriate standardized test) scores, references, and other factors that the University, in its discretion, believes will enhance the standing of the University. Joe has a 3.1 GPA, scores very well on the GMAT, and has excellent references. Based on the criteria listed in the catalog, Joe applies and pays the $100 application fee. His application is rejected. Later he finds out that others with low grades and test scores were accepted based on their family connections with the University. If Joe followed all of the guidelines in the college catalog and paid the required application fee, then according to the court in Steinberg v. Chicago Medical School:

there is a valid contract, but there has been no breach of that contract by the University or by Joe

In order to have a valid contract, in addition to the four basic requirements of a contract, which of the following must also occur?

there must be an absence pf invalidating conduct, such as duress

When only one party is mistaken as to a fact or facts of the transactions, it is termed:

unilateral mistake

Sally offers to sell her Business Law textbook from last semester to Bob for $50.00. Bob accepts Sally's offer and tells her he will pay her on Friday when he gets his paycheck. A contract is formed:

when bob accepts Sally's offer

One issue before the court in Vanegas vs. American Energy Services case was:

whether AES was bound by a promise to pay at-will employees 5% of the value of the sale of the company if they continued their employment after the sale