All contracts must have mutual ______ or _________ in any contract.
2. Open Ended
30 seconds
1 pt
Unilateral vs. Bilateral Contracts
3. Open Ended
30 seconds
1 pt
Formal vs. Informal contracts
4. Open Ended
30 seconds
1 pt
Can a formal contract be not stated?
5. Fill in the Blank
30 seconds
1 pt
All contracts are _________, _______ __ ____ or _______ __ ___
6. Open Ended
30 seconds
1 pt
Example of implied in fact contracts
7. Fill in the Blank
30 seconds
1 pt
Contracts implied in law are ______ contracts.
8. Open Ended
30 seconds
1 pt
Contracts implied in law...
9. Open Ended
30 seconds
1 pt
Example of contract implied in law
10. Open Ended
30 seconds
1 pt
Executed vs. Executory contracts
11. Open Ended
30 seconds
1 pt
Valid vs. Void vs. Voidable and/or unenforceable
12. Open Ended
30 seconds
1 pt
UCC (Uniform Commercial Code) deals with...
13. Open Ended
30 seconds
1 pt
T/F: The UCC is the same/uniform in all 50 states
14. Open Ended
30 seconds
1 pt
CLCL (Common Law Contract Law) deals with
15. Open Ended
30 seconds
1 pt
Formula for CLCL contracts
16. Open Ended
30 seconds
1 pt
Who has the power of acceptance in an offer?
17. Open Ended
30 seconds
1 pt
3 Requirements to an offer
18. Open Ended
30 seconds
1 pt
8 ways to terminate an offer
19. Open Ended
30 seconds
1 pt
A counter offer is also a...
20. Open Ended
30 seconds
1 pt
Can you have a contract under CLCL if you do not include the price/quantity?
21. Open Ended
30 seconds
1 pt
2 components of acceptance (CLCL)
22. Open Ended
30 seconds
1 pt
Does silence constitute acceptance under CLCL
23. Open Ended
30 seconds
1 pt
Does silence constitute acceptance under UCC
24. Open Ended
30 seconds
1 pt
Mailbox Rule (Effective Moment) (Only deals with physical mail, not things like email) (2 parts)
25. Open Ended
30 seconds
1 pt
CLCL does not have a firm offer. This means...
26. Open Ended
30 seconds
1 pt
If you put an offer in writing under the UCC can it be taken back?
27. Open Ended
30 seconds
1 pt
4 things that can mess up mutual assent
28. Open Ended
30 seconds
1 pt
Contracts made with undue influence are...
29. Open Ended
30 seconds
1 pt
What is undue influence.
30. Fill in the Blank
30 seconds
1 pt
Contracts made through physical duress are _____. Contracts made through emotional/psychological duress are _____.
31. Open Ended
30 seconds
1 pt
What is duress
32. Fill in the Blank
30 seconds
1 pt
Fraudulent contracts are _____ if in the execution and _____ if in the inducement.
33. Open Ended
30 seconds
1 pt
2 types of fraud
34. Open Ended
30 seconds
1 pt
Fraud in the execution means...
35. Open Ended
30 seconds
1 pt
Fraud in the inducement of a contract means/involves...
36. Open Ended
30 seconds
1 pt
Is exaggeration fraud?
37. Open Ended
30 seconds
1 pt
2 types of mistakes
38. Fill in the Blank
30 seconds
1 pt
Unilateral mistakes can be _____ or _____. Bilateral mistakes are _____.
39. Open Ended
30 seconds
1 pt
Consideration consists of...
40. Open Ended
30 seconds
1 pt
Consideration is only binding if...
41. Open Ended
30 seconds
1 pt
Money is not always consideration, money can also be...
42. Open Ended
30 seconds
1 pt
T/F: A promise for a promise can't be consideration
43. Open Ended
30 seconds
1 pt
2 ways consideration is looked at
44. Open Ended
30 seconds
1 pt
Legally sufficient deals with...
45. Open Ended
30 seconds
1 pt
Two areas of inquiry with regards to legal sufficiency
46. Open Ended
30 seconds
1 pt
Consideration with regards to pre-existing duty.
47. Open Ended
30 seconds
1 pt
Consideration with regards to past consideration
48. Open Ended
30 seconds
1 pt
Legally adequate consideration deals with...
49. Open Ended
30 seconds
1 pt
If courts find legal sufficiency, they generally (will/will not) question adequacy.
50. Open Ended
30 seconds
1 pt
Illegal agreements are...
51. Open Ended
30 seconds
1 pt
Some agreements aren't illegal, but the courts do not like them because they are against good public policy and limit people's rights. Two of these are...
52. Open Ended
30 seconds
1 pt
What is a covenant not to compete?
53. Open Ended
30 seconds
1 pt
What is an exculpatory provision
54. Open Ended
30 seconds
1 pt
3 areas where you do not have the mental capacity to enter a contract
55. Open Ended
30 seconds
1 pt
Contracts made with drunks and incompetents are...
56. Open Ended
30 seconds
1 pt
Contracts made with minors are...
57. Fill in the Blank
30 seconds
1 pt
A age 18 you have full ___________ ________.
58. Open Ended
30 seconds
1 pt
If a minor avoids a contract, this is called...
59. Open Ended
30 seconds
1 pt
If a minor avoids or dis-affirms a contract, they must...
60. Open Ended
30 seconds
1 pt
Minors can sign and be held to contracts that apply to...
61. Open Ended
30 seconds
1 pt
Oral agreements/contracts are every bit as valid and enforceable as written contracts unless...
62. Open Ended
30 seconds
1 pt
4 areas where fraud can be easily committed (all of these areas must have contracts in writing to be enforceable) (Statute of Frauds (Law to prevent frauds))
63. Open Ended
30 seconds
1 pt
What contracts must be in writing under the UCC?
64. Open Ended
30 seconds
1 pt
Problem with verbal/oral agreements.
65. Open Ended
30 seconds
1 pt
What constitutes a breach of a contract
66. Open Ended
30 seconds
1 pt
4 ways to terminate a contract
67. Fill in the Blank
30 seconds
1 pt
CLCL is ______ compared to the UCC in its application of performance standards.
68. Open Ended
30 seconds
1 pt
Doctrine of substantial performance
69. Open Ended
30 seconds
1 pt
What constitutes a material breach?
70. Open Ended
30 seconds
1 pt
Is 99% completion of a contract a breach?
71. Open Ended
30 seconds
1 pt
Performance is the objective when it comes to law. Performance is...
72. Open Ended
30 seconds
1 pt
Ways to discharge a contract
73. Open Ended
30 seconds
1 pt
3 types of conditions used in discharge
74. Open Ended
30 seconds
1 pt
Conditions Precedent
75. Open Ended
30 seconds
1 pt
Conditions Subsequent.
76. Open Ended
30 seconds
1 pt
Contract remedies help when what happens?
77. Open Ended
30 seconds
1 pt
3 contract remedies
78. Open Ended
30 seconds
1 pt
Contract Remedy: Money Damages
79. Open Ended
30 seconds
1 pt
Contract Remedy: Specific Performance
80. Open Ended
30 seconds
1 pt
Contract Remedy: Rescission
81. Open Ended
30 seconds
1 pt
Does contract law like punitive damages (punishment damages)
82. Open Ended
30 seconds
1 pt
The UCC deals with the sale of goods. This includes...
83. Open Ended
30 seconds
1 pt
Goods are...
84. Open Ended
30 seconds
1 pt
Compared to CLCL, the UCC is...
85. Open Ended
30 seconds
1 pt
UCC Covenant
86. Open Ended
30 seconds
1 pt
UCC deals with the sale of goods. What does sale mean?
87. Open Ended
30 seconds
1 pt
What is a good?
88. Open Ended
30 seconds
1 pt
The UCC is predicated on good faith and fair dealings. This is the entire basis of the law. In CLCL you can rest on what?
89. Open Ended
30 seconds
1 pt
What are held to a higher standard under the UCC?
90. Open Ended
30 seconds
1 pt
What is a Merchant? (3 parts)
91. Fill in the Blank
30 seconds
1 pt
The UCC is more _____ in _____.
92. Fill in the Blank
30 seconds
1 pt
In contract formation under the UCC, _____ = _____
93. Open Ended
30 seconds
1 pt
Can you be missing price and/or quantity and have a contract under the UCC?
94. Open Ended
30 seconds
1 pt
Courts agree you can determine price or quantity under the UCC because...
95. Open Ended
30 seconds
1 pt
Course of dealing
96. Open Ended
30 seconds
1 pt
Output Contract
97. Open Ended
30 seconds
1 pt
Requirements contract
98. Open Ended
30 seconds
1 pt
Under the UCC, silence (can/cannot) constitute acceptance
99. Open Ended
30 seconds
1 pt
Unconscionablility
100. Open Ended
30 seconds
1 pt
New, additional, or different (changes) terms contained in the acceptance become part of the contract automatically under the UCC unless...
101. Open Ended
30 seconds
1 pt
Mirror Image Rule
102. Open Ended
30 seconds
1 pt
The UCC did away with what rule?
103. Open Ended
30 seconds
1 pt
The UCC (has/doesn't have) a firm offer
104. Open Ended
30 seconds
1 pt
Firm offer
105. Open Ended
30 seconds
1 pt
Under the UCC, the seller has __ remedies in the event of a breach of a buyer. The buyer has __ remedies if the seller breaches.
106. Open Ended
30 seconds
1 pt
Under the UCC, additional consideration is not required to modify a contract if...
107. Open Ended
30 seconds
1 pt
1 requirement under the UCC with regard to putting contracts in writing
108. Open Ended
30 seconds
1 pt
In order to perform under the UCC, obligations of the seller...
109. Open Ended
30 seconds
1 pt
Perfect tender rule (UCC)
110. Open Ended
30 seconds
1 pt
Cure meaning (UCC)
111. Open Ended
30 seconds
1 pt
Two parts to Cure (UCC)
112. Open Ended
30 seconds
1 pt
Curing does what?
113. Open Ended
30 seconds
1 pt
Example of Cure
114. Open Ended
30 seconds
1 pt
Anticipatory Repudiation
115. Open Ended
30 seconds
1 pt
Buyer obligations under the UCC
116. Open Ended
30 seconds
1 pt
If something is discovered to be wrong during the inspecting of a shipment, there are 3 options. They are... (UCC)
117. Open Ended
30 seconds
1 pt
Can the buyer revoke acceptance if something is wrong under the UCC.
118. Open Ended
30 seconds
1 pt
Acceptance under the UCC
119. Open Ended
30 seconds
1 pt
Rejection under the UCC
120. Open Ended
30 seconds
1 pt
9 Remedies for the seller (know 7)
121. Open Ended
30 seconds
1 pt
11 Buyer Remedies (Know 8)
122. Open Ended
30 seconds
1 pt
What does: Resell the Goods and Recover Damages mean in terms of seller remedies under the UCC
123. Open Ended
30 seconds
1 pt
What does: Recover Damages for Nonacceptance or Repudiation mean in terms of seller remedies under the UCC
124. Open Ended
30 seconds
1 pt
What does: Recover the price mean in terms of seller remedies under the UCC
125. Open Ended
30 seconds
1 pt
What does: Recover Incidental Damages mean in terms of seller remedies under the UCC
126. Open Ended
30 seconds
1 pt
What is Cover in terms of buyer remedies under the UCC
127. Open Ended
30 seconds
1 pt
What does: Recover Damages for Nondelivery or Repudiation mean in terms of buyer remedies under the UCC
128. Open Ended
30 seconds
1 pt
What does: Sue for specific performance mean in terms of buyer remedies under the UCC
129. Open Ended
30 seconds
1 pt
What does: Recover Damages for Breach in Regard to Accepted Goods mean in terms of buyer remedies under the UCC
130. Open Ended
30 seconds
1 pt
What are Consequential Damages in terms of buyer remedies under the UCC.
131. Open Ended
30 seconds
1 pt
Why does the seller not get to recover lost profit under the UCC remedies?
132. Open Ended
30 seconds
1 pt
4 Elements of a contract
133. Open Ended
30 seconds
1 pt
Can you omit the price and quantity in a contract under the UCC?