Objective Theory

Question 1

Lucy v. Zehmer

Major Contractual Case

Answer 1

If the outward manifestations indicate an intention to be bound, a contract was formed,** regardless of mental intention. **

Question 2

First National Bank v. Roanoke Oil Co.

Answer 2

Conveyance of clear and definite terms inclined price, terms, and subject matter constitutes a valid contract.

Question 3

Colfax Envelope Corp. v. Locational No. 458-3M

Answer 3

A party may not rescind a contract due to conflicting understandings of an essential term** if a reasonable person** would have recognized the ambiguity or unclear term at the time of contracting.

Question 3

Colfax Envelope Corp. v. Locational No. 458-3M

Answer 3

A party may not rescind a contract due to conflicting understandings of an essential term** if a reasonable person** would have recognized the ambiguity or unclear term at the time of contracting.

Question 4

Hotchkiss v. National City Bank of New York

Answer 4

“A contract is an obligation attached by the mere force of law to certain acts of the parties, which ordinarily accompany and represent a known intent. If, however, [either party] used words intended to do something else then the usual meaning which the law imposes on them he would still be held liable.”

Question 5

Kolodziej v. Mason

Major Topical Case

Answer 5

An enforceable contract requires mutual assent by both parties to agree to perform an act or forbearance with a full understanding of the terms of the agreement.

Question 6

Vega v. T-Mobile USA

TEST

Answer 6

To prove the existence of a contract, a plaintiff must show:
1. Offer
2. Acceptance
3. Consideration
4. Sufficient specification of the essential terms

Question 7

Mailbox Rule comes from …

Answer 7

Adams v. Linsell

Question 8

Adams v. Linsell

Major topical rule

Answer 8

An acceptance is effective upon dispatch not receipt, but only if the manner of deliverance is what is expected and the response is an acceptance

aka mailbox rule