Contracts & Sales Flashcards
What fact must be proven for a plaintiff to prevail in common-law misrepresentation action?
That the plaintiff Justifiably Relied on the (mis)representation
Are there any types of contracts that are NOT assignable?
Yes. Generally, all contract rights are assignable unless they would result in an obligor’s RISK.
E.G, this is why malpractice contracts are not assignable.
What is Fraud in the Inducement?
the use of deceit or trick to cause someone to act, or to which he/she will base his/her decision to act.
Example: “there will be tax advantages to you if you let me take title to your property,” or “the rest of this is just routine legal language” but actually includes a balloon payment.
When does the statute of limitations for a breach of contract begin?
On the date of breach
Do contracts governed by common law require recission for minor breaches?
No. You are entitled to monetary damages of fair amount, because the breach was not material.
What is one implication of assigning a contract?
The assignor warrants that he knows of no defect in the contract; otherwise, people would simply assign contracts whenever they knew of a problem in the contract
What are advertisements? What AREN’T they?
They AREN’T an offer
They ARE invitations to negotiate (esp. relevant with cars)
Can a contract alter the Mailbox Rule?
Yes, by stating that for the contract to be enforceable, it requires a specific date of receipt.
What is the $500 written contract threshold related to?
ONLY Sale of goods.
So eg - not for repairs
Can you assign a contract if it changes obliged risk?
No
Statute of Frauds
- about it
- elements of contract may be contained in more than one document
- NOT Necessary for contracts that take place w/in a year (they DON’T need to be in WRITING!!!)
The Statute of Frauds (29 Car 2 c 3) (1677) is an Act of the Parliament of England. It required that certain types of contracts, wills, and grants, assignment or surrender of leases or interest in real property must be in writing and signed to avoid fraud on the court by perjury and subornation of perjury. It also required that documents of the courts be signed and dated.
Parol - when is contemporaneous oral evidence allowed?
When it adds to but does NOT VARY contract terms
When are contracts enforceable against someone?
When they are Signed by that person
(Offer can still be accepted by another orally or otherwise, but not necessarily enforceable against that person.
When will courts grant the remedy of specific performance?
Usually only available in contracts for unique or rare property
Does the promise to pay a debt of another have to be made in writing?
Yes
