final

Question 1

common law in contracts

Answer 1

common law governs all in contracts except when it come sot the UCC or administrative agency, or when a it has been modify or alter by a law or a statue

Question 2

examples of common law contract

Answer 2

relating to service, real state employment, insurance

Question 3

UCC governs what aspects of contracts

Answer 3

it governs lease of goods and sales

Question 4

whats the propose of common law

Answer 4

provide stability and future security among buyers and sellers. also it enforces contract.

Question 5

promisor

Answer 5

the one making the offer

Question 6

promisee

Answer 6

the person whom the offer is been made

Question 7

Contract

Answer 7

a promise or promises for the performance if which the law provides remedy or performance that the law recognizes as duty

Question 8

how are contracts judge in the law

Answer 8

they are judge base in a objective theory

Question 9

basis for objective theory

Answer 9

outward, what was said in entering the contract, how the party acted, circumstances surrounding the transaction. how a normal person would of interpret the contract

Question 10

requirements for a valid contract

Answer 10

agreement, consideration, contractual capacity, legality

Question 11

requirements needed to enforce a contract

Answer 11

voluntary consent, form ( the form a contract must be done in)

Question 12

type of contracts

Answer 12

bilateral, unilateral, formal, informal, express, implied.

Question 13

bilateral

Answer 13

a promise for a promise ( give you 2 for ur pencil)q

Question 14

unilateral

Answer 14

a promise for an act

Question 15

formal

Answer 15

requires a special form for creation (checks)

Question 16

informal

Answer 16

requires no special form is base on substance

Question 17

express

Answer 17

form by words ( signed lease)

Question 18

implied

Answer 18

formed by the conduct of the parties

Question 19

executed contract

Answer 19

a contract that has been fully performed by both parties

Question 20

executory contract

Answer 20

if only one of the parties perform the action

Question 21

contract enforceability

Answer 21

violable contract unenforceable

Question 22

voidable

Answer 22

a contract that is valid but can be voidable by the option of one or both of the parties

Question 23

unenforceable

Answer 23

can not be enforce due to some legal bondings. some contract require to be in a written form if not they can not be enforce

Question 24

void contract

Answer 24

a contract that is not a contract no duties to neither of the parties

Question 25

quasi contracts

Answer 25

contract implied in the law.

Question 26

quatum mercuit

Answer 26

is the compensation given under the quasi contracts

Question 27

limitation of quasi

Answer 27

if there is already another contract or booth parties benefit from or neither party suffer

Question 28

plain meaning

Answer 28

everything is determine from the document it self