Contracts

Question 1

Contract

Answer 1

A promise for a set of promises for the breach of which the law gives a remedy

Question 2

Consideration

Answer 2

A bargain for exchange as shown by a promise for a promise or a promise for a performance

Question 3

Promise

Answer 3

Manifestation of an intent to act or refrain from acting

Question 4

Performance

Answer 4

An act or a forebearance

Question 5

Hamer Case Facts

Answer 5

Nephew refrained from drinking, smoking in order to receive 5K from Uncle, Uncle wrote note notifying him of his intention to pay but then died.

Question 6

Hamer Rule:

Answer 6

Consideration

Question 7

Hamer Issue Statement

Answer 7

Whether the nephew can recover 5K through consideration when the uncle offered the amount to refrain from activities.

Question 8

Hamer : Holding

Answer 8

Nephew had an enforceable contract based on his performance and the notes of the promise from uncle

Question 9

Kirksey Facts:

Answer 9

Widow came to live with brother-in-law after he said she could stay there, after a few years he kicked her out

Question 10

Kirksey Rule:

Answer 10

Consideration

Question 11

Kirksey issue:

Answer 11

Was there a promise by the brother that had consideration or was it a kind gesture?

Question 12

Kirksey holding:

Answer 12

No consideration, just a kind gesture

Question 13

Wood v. Lucy: Facts

Answer 13

Fashion designer, hired plaintiff to increase sales of her products and endorsements. designer started endorsing herself and withheld profits from plaintiff.

Question 14

Wood issue:

Answer 14

Do the parties have an enforceable contract given that the agreement between the designer and promoter had no expressly written promise?

Question 15

Wood holding and reason

Answer 15

Yes, the parties have an enforceable promise. They had an implied promise.

Question 16

Mutuality of Obligation

Answer 16

For a contract to bind either party, both must have assumed legal obligations

Question 17

Mattei v. Hopper: What rule should I have learned? explain

Answer 17

Mutuality in Obligation, both the plaintiff and defendant assumed legal obligations before plaintiff backed out

Question 18

Mattei facts:

Answer 18

Real estate developer offered for property, signed deposit receipt, they both assumed legal obligations

Question 19

Mattei holding:

Answer 19

Since they both assumed legal obligations the contract is enforceable.

Question 20

Mere __________ will not void a contract

Answer 20

inadequacy

Question 21

A gift is an unenforceable/enforceable promise

Answer 21

un

Question 22

Promissory Estoppel Elements

Answer 22

1. Promise 2. Foreseeable inducement of action or forbearance 3. Reliance 4. Injustice can be avoided

Question 23

What is the key in promissory estoppel?

Answer 23

Facts

Question 24

When do you use promissory estoppel?

Answer 24

When no consideration is present

Question 25

Expanded bargain theory:

Answer 25

Makes promissory Estoppel possible; if it looks like the parties WOULD HAVE bargained for it then P.E. is fulfilled.

Question 26

Why couldn’t Kirksey use promissory estoppel?

Answer 26

Because the brother didn’t intent to be bound. Didn’t have expanded bargain theory

Question 27

Feinburg facts; holding

Answer 27

Retired earlier than would have after pension promised; found it was a promissory estoppel because it induced action.

Question 28

Hayes facts;holding

Answer 28

Hayes announced his retirement and then owner said he would be taken care of; didn’t induce action because he already acted

Question 29

Past consideration elements

Answer 29

1. Promise 2. Benefit previously received 3. Injustice

Question 30

Courts want to enforce the promise when the ________ intended to be bound

Answer 30

promisor

Question 31

webb v mcgowin facts; holding

Answer 31

Webb worked at lumber yard had to jump off and hold log in order to not kill; mcgowin promised and webb suffered injustice so it was held as past consideration

Question 32

Mills v. Wyman facts; holding

Answer 32

Son was dying and person took care of father’s son. Father said he would pay but never did. Didn’t fulfill past consideration because of he didn’t

Question 33

Quasi contract; fake contract; unjust enrichment elements

Answer 33

Benefit conferred; appreciation; acceptance and retention of benefit as to create unfairness

Question 34

Mutual assent elements

Answer 34

Offer and acceptance

Question 35

Contract requires

Answer 35

consideration and mutual assent

Question 36

Blank is an essential factor in contract law

Answer 36

intent

Question 37

Effect of misunderstanding rule:

Answer 37

No assent if they meant different things. (fingers crossed)

Question 38

Conduct of manifestation to assent

Answer 38

intends to engage in the conduct; if you have your fingers crossed it doesn’t matter

Question 39

Objective theory of assent

Answer 39

If it looks like they intended to have a meeting of the minds, the court will uphold contract

Question 40

The sale of land has to be in_________

Answer 40

writing

Question 41

Offer: define

Answer 41

when another person is justified in understanding that they can accept

Question 42

An offer must be an expression of….

Answer 42

will or intent

Question 43

Batsakis: facts

Answer 43

500,000K drachmae worth $25 but needs to pay back 2K plus interest.

Question 44

Batsakis: Rule

Answer 44

Mere lack of inadequacy of understanding consideration doesn’t mean lack of consideration.

Question 45

Ricketts case:

Answer 45

Grandfather approached so his grand-kid didn’t have to work with a 2K check per month. He died, she sues estate.

Question 46

Ricketts rule:

Answer 46

Promissory estoppel

Question 47

Promissory estoppel elements

Answer 47

1. Promise 2. Foreseeable inducement of action 3. Reliance 4. Injustice-fairness