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Paralegal > Contracts, Wills, Torts > Flashcards

Contracts, Wills, Torts Flashcards

1
Q

What is a contract?

A

an agreement that is enforceable by a court of law. A legally enforceable agreement.

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2
Q

Every contract involves at least two parties: (parties?)

A
  • the offeror - the party who makes an offer to enter into a contract;
    and
  • the offeree - the party to whom the offer is made
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3
Q

Four basic elements of an enforceable contract:

A
  1. Agreement
  2. Consideration
  3. Capacity
  4. Lawful object
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4
Q

What does agreement require?

A

requires offer and acceptance

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5
Q

Offer is the first half of the

A

Agreement

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6
Q

What is the second half of an agreement?

A

Acceptance

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7
Q

The __ sets forth the terms under which the offeror is willing to enter into the contract.

A

offer

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8
Q

The ___ has the power to create an agreement by accepting the offer.

A

offeree

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9
Q

For the offer to be effective:

A
  • offer must objectively intend to be bound by the offer
  • terms must be definite & reasonably certain
  • must be communicated to the offeree
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10
Q

A valid offer gives the offeree the power to accept the offer, creating a ____.

A

contract

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11
Q

The offeror may revoke (withdraw) an offer at ____.

A

any time prior to acceptance

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12
Q

What is the mirror image rule?

A

If acceptance is not a mirror image of the offer, it is not acceptance.
It is a counter offer.

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13
Q

The power to accept the offer, creating a contract, does not continue ____.

A

indefinitely.

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14
Q

The offer is also terminated if the offeree ____.

A

rejects it.

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15
Q

A ___ terminates the old offer and creates a new offer.

A

counter offer

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16
Q

Name 3 ways for Termination of the Offer

A
  1. offeror may revoke (withdraw) an offer at any time prior to acceptance.
  2. if the offeree rejects it
  3. a counteroffer terminates the oldoffer and creates a new offer.
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17
Q

___ is assent by the offeree to the terms of the offer.

A

Acceptance

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18
Q

Only the ___ has the legal power to accept an offer and create a contract.

A

offeree

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19
Q

Performance can constitute ___

A

acceptance

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20
Q

What is acceptance?

A

assent by the offeree to the terms of the offer

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21
Q

Name 2 Contract types

A
  1. Express Contracts

2. Implied Contracts

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22
Q

What is an Express Contract?

A

contract in oral or written words

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23
Q

What is consideration?

A

the thing of value given in exchange for a promise or something tangible

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24
Q

What are the most common types of consideration?

A

Tangible payment
and
performance of act

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25
Q

A ___ is an agreement that is enforceable by a court of law. A legally enforceable agreement.

A

contract

26
Q

What is a bargained-for-exchange?

A

consideration

27
Q

Gift promises are also called ____.

A

gratuitous promises

28
Q

Minors generally _____ have the capacity to contract.

A

do NOT

29
Q

Capacity of a business to contract _____.

A

does not look at individual signer

30
Q

Being under the influence

A

is generally not a defense. Must be so drunk you can’t understand anything.

31
Q

Lawful object

A

you must contract for something legal

32
Q

A contract to perform an illegal act is an ___.

A

illegal contract

33
Q

What are the elements of a contract?

A
  • Agreement (which requires offer and acceptance)
  • Consideration
  • Capacity
  • Lawful object
34
Q

A contract to perform an illegal act is an illegal contract. Illegal contracts are ____.

A

void

35
Q

Agreement, consideration, capacity, and lawful object are the 4 elements of what?

A

an enforceable contract

36
Q

ratification rules

A

not necessarily enforceable contract, but then continue to do it, you have ratified it

37
Q

What is the contract’s single greatest myth?

A

that you have days after you sign it to cancel

38
Q

Statute of Frauds requires what kinds of contracts to be in writing?

A
  • contract for land
  • contract that cannot be fulfilled in one year
  • contract for goods over $500
  • contract to pay the debts of another
39
Q

Breach of contract

A

failure to perform

40
Q

The offeree has the power to create an agreement by ____.

A

accepting the offer

41
Q

The offeror may revoke (withdraw) at any time ___.

A

prior to acceptance

42
Q

What is an Implied Contract?

A

Implied from the conduct of parties & must have 3 elements:

  1. Plf provided prop or svcs to deft
  2. Plf expected to be pd by deft and did not provide prop or service for free
  3. Deft had chance to reject the property or service provided by plf, but failed to do so.
43
Q

___ is the thing of value given in exchange for a promise or something tangible.

A

consideration

44
Q

bargained-for-exchange

A

What you bargain for-something given on both sides. Promise and performance mutually inductive.

45
Q

Are gift promises enforceable? Why or why not?

A

Gift promises are NOT enforceable because they lack consideration.

46
Q

Mentally incompetent persons ___ have the capacity to contract.

A

do NOT

47
Q

Businesses ___ have the capacity to contract.

A

DO

48
Q

PICTURES:

San Antonio Mayor

A

Julian Castro

49
Q

PICTURES:

Secretary of Housing and Urban Development

A

Joaquin Castro

50
Q

What is one of the quotes that Jac loves?

A

Regarding Bilingual education in public schools:
If the King’s English was good enough for the Lord Jesus Christ, it was good enough for the children of Texas. (obviously Jesus didn’t speak English)

51
Q

PICTURES:

Secretary of the Treasury

A

Jack Lew

52
Q

PICTURES:

Supreme Court Justices

A

Elena Kegan (newest member)
Samuel Alito
Stephen Breyer

53
Q

PICTURES:

Head of the CIA

A

John Brennan

54
Q

PICTURES:

US Ambassador to the United Nations

A

Susan Rice

55
Q

PICTURES:

President of Mexico

A

Enrique Nieto

56
Q

PICTURES:

Attorney General of the US

A

Loretta Lynch

57
Q 
PICTURES:
US Senator (oldest member)
A

Harry Reid

58
Q 
PICTURES:
Texas Senator (one of two)
A

John Cornyn

59
Q

PICTURES:

Head of the Federal Reserve

A

Janet Yellen

60
Q

PICTURES:

Woman Republican 2016 Presidential Candidate

A

Carly Fiorina

Paralegal (28 decks)

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