CH. 6,7,8,9,10

Question 1

When a party to a contract fails to perform the agreement

Answer 1

Breech of Contract

Question 2

A contract that i grossily unfair

Answer 2

Unconscionable Contract

Question 3

Completely enforceable against all parties unless and until the party legally entitled to avoid it does so

Answer 3

Voidable Contract

Question 4

An offered who makes a counter offer becomes the

Answer 4

Offeror

Question 5

The serious illness of an offeror terminates the offer

Answer 5

false

Question 6

Contract implied in law is known as the..

Answer 6

Quasi Contract

Question 7

If no time period for acceptance is stated in an offer the offer ends at the end of

Answer 7

reasonable time

Question 8

Four essential elements to create a contract

Answer 8

1. Offer and acceptance
2. Consideration
3. Compacity
4. illegality

Question 9

Written acceptance of an offer generally takes affect when it is

Answer 9

Properly Sent

Question 10

Love and affection is generally considered when making a contract

Answer 10

False

Question 11

Two parties enter into in an agreement that both know is illegal

Answer 11

Peri Delicito

Question 12

A contract whose terms are expressed orally or in writing is legally referred to as

Answer 12

Expressed Contract

Question 13

A provision excusing one party from liability of neligence

Answer 13

Exculpatory Clause

Question 14

An agreement lacking consideration is said to be

Answer 14

unenforceable

Question 15

This doctrine sometimes allows enforcement of a promise even when an offeree gives no consideration for an offerors promise

Answer 15

Promissory Estopple

Question 16

When a debtor and a creditor are in a agreement about how much money is owe this is..

Answer 16

Liquidated

Question 17

A contract between a minor and adult is considered

Answer 17

Voidable

Question 18

A promise for an act taken place is known as a

Answer 18

Past Consideration

Question 19

This can be done by a minor-orally writing or implied from minor actions

Answer 19

Ratification

Question 20

An agreement not to compete is legal if these two things are reasonable defined

Answer 20

1. Restriction

2. Geographic Scope

Question 21

Minors are generally liable for

Answer 21

Torts