Vocab

Question 1

Contract

Answer 1

A legally enforceable agreement

Question 2

Quasi-Contract

Answer 2

Equitable Remedy (Restitution)
1) P conferred a benefit on D
2) P reasonably expected to be paid
3) D realized unjust enrichment if P not be compensated
Remedy:
1) Value on benefit conferred
2) NOT K value

Question 3

Bilateral Contract

Answer 3

Offer that is open as to the method of acceptance: either return promise or begin performance
Assume unless:
1) reward, prize, contest
2) offer expressly requires performance for acceptance

Question 4

Unilateral Contract

Answer 4

Offer that expressly requires performance as the only possible method of acceptance