Contracts

Question 1

Bilateral contract

Answer 1

Exchange of a promise for a promise

Question 2

Unilateral contract

Answer 2

Promise for an act

Question 3

Agents authority… not all agents have what?

Answer 3

The same amount of authority

Question 4

Cal trans right of way agent is NOT a…,

Answer 4

A general agent for the state of ca

And

Cannot act on the states behalf in all circumstances

Only

Right of way matters

Question 5

What is a consideration?

Answer 5

Payment or reward

Question 6

Statute of fraud means

Answer 6

Certain contracts must be in writing. If original contract is subject to statute of fraud if any amendments must also be in writing.

A statute is a law passed by a legislature.

Contracts that cannot be performed with in 1 year.

Question 7

Assignment of contract is

Answer 7

One party transfers it’s rights in a contract to another.

“Step into their shoes “t

Question 8

Amending contracts… the statute of what applies ?

Answer 8

Fraud.