Defenses Flashcards

1
Q

Incapacity

A

Minor can enter K, but void able at option if minor.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Florida minors ability to K

A
  1. For marriage
  2. Over 16 for an educational loan
  3. Unwed pregnant can consent to medical care relating to pregnancy or her child by any licensed Dr.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Florida incapacity

A

Minor cannot claim legal incapacity if he induced the party by fraudulently representing his age.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Misrepresentation

A

Untrue statements or assertions that relate to a material existing fact.
Can be used as offense or defense.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Covenant not to compete

A

Court will enforce reasonable covenants not to compete.
Re sale of business, dissolution of partnership, or use of trademark. not be enforced if:
1. Contrary to public health, safety or welfare,
2. Injunction enforces a unreasonable covenant not to compete
3. There is no showing of irreparable harm. (Fl injury not harm.)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Expectation interest

A

Damages based on expectations of aggrieved party.
Award money to put party in position as if the other party had performed.
* default rule

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Reliance damages

A

Amount expended to perform the K.

* awarded when expectation damages are too hard to calculate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

General damages

A

Only liable for damages reasonably foreseeable from the breach.
* But not for consequential damages or unforeseeable consequences not predictable to breaching party.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Restitutionary damages

A

Damages are the value of the benefits conferred on the breaching party.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Election of damages

A

Aggrieved party chooses which damages; expectation or restititionary, but not both.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Specific performance

A

Applies to land Ks only. Available to both buyer and seller.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Negative injunction

A

Order by the court prohibiting a particular action.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Anticipatory repudiation

A

If repudiates before the time for performance (ie tells that he is going to breach or does something that makes him unable to perform), then the other can treat it as a breach with same remedies.
* can be retracted until the other party either relies on the repudiation or sues for breach.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Adequate assurance

A

Party can demand proof that the other party is capable of performing if he has reasonable grounds for insecurity.
* UCC requires a request for adequate assurance be made in writing.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Seller’s remedies under the UCC

A
  1. resale: seller may resell his goods in good faith and in a commercially reasonable manner and recover as damages the difference between the K price and the resale price.
  2. if he is a volume seller, he can recover the profit he would have made on that K.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Buyer’s remedies under the UCC

A
  1. specific performance: (replevin) where goods are unique.
  2. cover: purchase replacement goods in good faith and w/o unreasonable delay and seek damages for the difference in costs. ($cover minus K$+incidental and consequential damages= total damages).
  3. K market differential: only available if not cover.
17
Q

Consequential damages under the UCC

A

Buyer can recover equivalent of lost profits if:

  1. Seller knew or had reason to know of buyers requirements at the time of contracting, and
  2. losses could not have been prevented or further mitigated.