Chapter 9 - Nature and Classification

Question 1

The promisee has a right to expect or demand what?

Answer 1

The something either will or will not happen in the future

Question 2

Sources of contract law

Answer 2

Common Law
Statute Law
Administrative Agency regulations
UCC (sale and lease of goods)

Question 3

Designed to provide stability and predictability for both buyers and sellers

Answer 3

Contract Law

Question 4

Objective facts judged by the

Answer 4

Reasonable person Standard

Question 5

List the objective facts of contracts

Answer 5

What the party said when entering the contract
How the party acted or appeared
The circumstances surrounding the transaction

Question 6

A freedom protected in the constitution that recognizes everyone’s ability to enter freely into contractual arrangements

Answer 6

Freedom OF contract

Question 7

For person who may have been pressured into making contracts unfavorable to their interests

Answer 7

Freedom FROM contract

Question 8

Requirements of a valid contract

Answer 8

Agreement
Consideration
Contractual Capacity
Legality

Question 9

An agreement consists of

Answer 9

Offer and Acceptance

Question 10

Defenses to the enforceability of a contract include

Answer 10

Voluntary Consent

Form

Question 11

How are contracts classified?

Answer 11

How and when a contract is formed

Question 12

The offeree can accept simply by promising to perform

Answer 12

Bi-Lateral Contract

Question 13

The offeree can accept only by completing the contract performance

Answer 13

Unilateral Contract

Question 14

Contract comes into existence at the moment the promises are exchanged

Answer 14

Bi-Lateral Contract

Question 15

The contract is formed when the contract is performed

Answer 15

Unilateral Contract

Question 16

These offers are normally revocable

Answer 16

Unilateral Contracts

Question 17

Negotiable instruments, like checks, are what kind of contract

Answer 17

Formal

Question 18

List the requirements for Implied Contracts

Answer 18

PL furnished some service or property
PL expected to be paid and the DEF knew or should have known that payment was expected
DEF had a chance to reject the services or property and did not

Question 19

Contracts implied in law are known as

Answer 19

Quasi Contracts

Question 20

Do not arise from any agreement because they are not true contracts

Answer 20

Quasi Contracts

Question 21

As much as he or she deserves

Answer 21

Quantum meruit

Question 22

Imposed to avoid the unjust enrichment of one party

Answer 22

Quantum meruit

Question 23

Regulates legal writing and eliminate legalese

Answer 23

Plain Language Laws

Question 24

Apply to consumer contracts made primarily for personal, family, or household purposes

Answer 24

Plain Language Laws

Question 25

The meaning of the terms must be determined from the face of the instrument (the written document alone)

Answer 25

Plain Meaning Rule

Question 26

Intent of the parties cannot be determined

Answer 26

Ambiguity

Question 27

Lack provision on a disputed issue

Answer 27

Ambiguity

Question 28

Term is susceptible to more than one interpretation

Answer 28

Ambiguity

Question 29

Uncertainty about a provision

Answer 29

Ambiguity

Question 30

List the situations under which the court will consider a contract to be ambiguous

Answer 30

Intent of the parties cannot be determined
Lack provision on a disputed issues
Term is susceptible to more than one interpretation
Uncertainty about a provision

Question 31

Any evidence not contained in the document itself

Answer 31

Extrinsic Evidence

Question 32

May include testimony of parties, additional agreements or communications, or other information relevant to determining the parties intent

Answer 32

Extrinsic Evidence

Question 33

_______________, ____________, and __________ meaning to all of the contract’s terms

Answer 33

Reasonable, lawful, and effective

Question 34

Contract will be interpreted as a

Answer 34

Whole

Question 35

Terms subject to separate negotiation will be given

Answer 35

Greater consideration

Question 36

A word will be given what meaning

Answer 36

its ordinary, commonly accepted

Question 37

_____ and _____ wording will be given greater consideration than general language

Answer 37

Specific and exact wording

Question 38

________ and ______ terms prevail over preprinted terms

Answer 38

Written or typewritten

Question 39

A party that uses ______________ is held responsible for the ambiguities

Answer 39

Ambiguous Expressions

Question 40

Evidence of ________, ___________, and _______ may be admitted to clarify

Answer 40

Trade usage, prior dealing, performance