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J - B LAW 301 > PowerPoint 4 > Flashcards

PowerPoint 4 Flashcards

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1
Q

Contracts

A

A legally enforceable agreement.

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2
Q

Do contracts have to be written?

A

No.

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3
Q

Is a simple promise legally enforceable?

A

No.

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4
Q

Elements of a contract:

A
  • Intention to create legal relations.
  • Meeting of the mind (offer and acceptance).
  • Exchange of value (consideration).
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5
Q

Consensus Ad Idem

A

Meeting of the minds.

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6
Q

Intention to Create Legal Relations

A

Pledging to support a campaign is not an intention to create a legal relation, but a case where someone is selling something and someone agreeing to buy it is a type of a legally binding agreement.

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7
Q

The intention to create legal relations is assumed to exist when you deal with ___, but presumed to not exist when you deal with ___.

A

Strangers, family.

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8
Q

Meeting of the Minds

A
  • Parties must mutually agree to terms.
  • One party proposes terms through an offer.
  • Other party agree to terms through an acceptance.
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9
Q

___ ___ ___ ___ must be applied to prove parties intended to create legal relations.

A

Objective test of intention.

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10
Q

Objective Test of Intention

A

What would a reasonable person believe? The test must be applied at a time of purported contract, and not in hindsight.

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11
Q

When is the contract complete in a typical sale?

A

When the money changes hands.

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12
Q

Invitation to Treat

A

Implied terms in an advertisement. Advertisements and catalogues presumed to be invitations.

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13
Q

Offers vs. Invitation to Treat

A

An offer is a contract where you cannot change your mind, while an invitation is not yet a contract.

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14
Q

Offer may be terminated before ___.

A

Acceptance.

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15
Q

Offer ends upon:

A
  • Revocation.
  • Lapse of time (stated or reasonable).
  • Death.
  • Rejection.
  • Counter offer.
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16
Q

The reasonable person test being used for the lapse of time ___, as different contexts require different time frames.

A

Varies/differs.

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17
Q

With the counter-offer there comes an implied ___.

A

Rejection.

18
Q

Are you legally obligated to hold an item for someone while you wait for them to decide?

A

No.

19
Q

Are conditional offers binding?

A

Yes.

20
Q

Revocation

A

Withdraw by offeror.

21
Q

When can the offeror revoke?

A

Anytime.

22
Q

What must be completed in revocation?

A

The revocation must be communicated to offer.

23
Q

Firm Offers

A

Gratuitous promise to not revoke: unenforceable.

24
Q

Call For Tender

A

City calls for tenders (offers), builders submit tenders. City selects winning under.

25
Q

Facts in call for tender usually supports two sets of contracts – what are they?

A

Contract A: contract to select winning tender.

Contract B: contract to build library.

26
Q

Forms of acceptance:

A
  • Acceptance by promise.

- Acceptance by performance.

27
Q

When is acceptance binding?

A

When acceptance is communicated.

28
Q

Acceptance by Promise

A

Words that are written or spoken. Can also be conduct (handshake).

29
Q

Acceptance by Performance

A

Act of exchanging money itself.

30
Q

Can silence be considered to be acceptance?

A

No.

31
Q

Can silence plus prior agreement may be acceptance?

A

Yes.

32
Q

Acceptance at a distance depends on what distinction?

A

Instantaneous communications vs. non-instantaneous communications.

33
Q

What is the rule for instantaneous acceptance at a distance?

A
  • Communication effective when received.
  • Communication effective where received.
  • Communication effective only if received.
34
Q

Instantaneous

A

No (substantial) delay.

35
Q

Acquiescence

A

You did not really agree to it, but you went along with it.

36
Q

Is acquiescence considered acceptance?

A

Yes.

37
Q

What is the exception to the rule of when, where, and only if received?

A

Postal rule.

38
Q

Is the postal rule instantaneous?

A

No, it is non-instantaneous (substantial delay).

39
Q

When does the postal rule apply?

A

Postal letters, courier packages.

40
Q

Postal Rule

A
  • Communication effective when sent.
  • Communication effective where sent.
  • Communication effective even if not received.
41
Q

What are limitations on postal rules?

A

It applies only to acceptance. Does not apply to rejection.

42
Q

Acceptance by Performance

A

Obligations exist on one side when contract created. “I’ll pay $100 to anyone who finds my cat.”

J - B LAW 301 (22 decks)

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