Business Law Chapter 08 Mindtap Learn It

(Quasi-contract) What must a plaintiff show to be awarded a quasi-contract in a lawsuit?

The defendant was unjustly enriched

(Nature and Terminology) Sal has ordered 100 pounds of shrimp for his restaurant from Sam every Friday for 5 years and has always paid that week's market price. One Friday, Sal decides to take a vacation but doesn't tell Sam. Sam claims they have a contract, even though it was never written down. What kind of contract do they have?

implied-in-fact

(Bilateral and Unilateral) In a unilateral contract

substantially undertaking performance prevents the offeror from revoking the offer

(Nature and Terminology) What type of contract exists when at least one party has the option of canceling it?

voidable

(Quasi-contract) In what situations would a court be likely to award a quasi-contract? (2 answers)

1) If the defendant was unjustly enriched and played a part in deceiving the plaintiff 2) When the unjust enrichment is a relatively insignificant amount of money

(Nature and Terminology) What factors make an agreement enforceable under the principle of quasi-contract? (2 answers)

1) the enriched party knows about the benefit and keeps it 2) one party is being enriched at the expense of the other

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

(Bilateral and Unilateral) Which of the following creates a bilateral contract?

a sale of goods with payment and delivery

(Nature and Terminology) When party A and B form a contract and both parties fully perform, the contract is considered:

executed

(Executed and Executory) Carol and Al enter into a contract for the sale of a painting. Carol pays Al the asking price and Al delivers to Carol the painting. This contract is an:

executed contract

(Nature and Terminology) 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

(Executed and 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 delivered it. This is an:

executory contract

What ambiguity in a contract's language exists, a court will:

interpret the terms against the drafting party

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 enrichment

(Nature and Terminology) What is the term for a contract agreement in which an offeror promises to pay after the occurrence 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