Test #2

Question 1

Definition of a k

Answer 1

mutually beneficial agreement, two or more parties, oral or written

Question 2

power of acceptance

Answer 2

the ability of a person to accept a legally binding offer from another person. It’s used to determine if an offer has been accepted validly.

Question 3

voidable k

Question 4

void k

Question 5

executory

Question 6

executed

Question 7

special offer

Answer 7

2- Reward, Auction

Question 8

how to terminate an offer

Answer 8

offeror revokes the offer, death/incapacity, destruction of subject matter

Question 9

manifestation of assent

Answer 9

The offeree must demonstrate that they have accepted and agreed to the terms of the contract

Question 10

mailbox rule

Answer 10

offer acceptance upon dispatch

Question 11

mirror image rule

Answer 11

an offer must be accepted exactly as it is presented, without any changes or modifications

Question 12

silence

Answer 12

depending on the circumstances involved silence is acceptance, company sends you terms of updates yet you continue to use the service without verbally agreeing, company assumes you agree

Question 13

terms, offer, acceptance

Answer 13

agreement, not enforceable

Question 14

consideration

Answer 14

this is an essential part of a k, exchanging something of equal value

Question 15

tangible

Answer 15

money, property, or services

Question 16

intangible

Answer 16

forbearence (not legally obligated to do something), legal detriment (incurring a loss)

Question 17

not consideration

Answer 17

illegal, pre-existing duty promise

Question 18

requirements to enforce a valid k

Answer 18

offer, terms, acceptance, consideration

Question 19

void+unenforceable

Answer 19

different things

Question 20

requirements to enforce a promise

Answer 20

promise is made, reliance (RPS), accept, consideration

Question 21

Law v equity

Answer 21

People want money/ specific performance or injunction

Question 22

city of everett v mitchell

Answer 22

objective theory, bought safe at estate sale, precedent (contracts)

Question 23

Lucy v Zehmer

Answer 23

sufficient intent, RPS, sale of a farm,sale of property cannot be oral

Question 24

marvin v marvin

Answer 24

bettys sick, wants clyde to take takeover KFC, divorced him and clyde got nothing. Clyde gave up his business, decision of the court, clyde gets 50%, promise for a k

Question 25

james v turilli

Answer 25

reward- specific and definite, no disclaimer

Question 26

jones v free flight sport aviation