Promisor Study guides, Class notes & Summaries

LEGL 2700 Roessing Exam 2 Questions and Answers Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer ️️ Tangible (touchable), movable personal property Bilateral Contract - Answer ️️ Promise in exchange for a promise Involves promisor ...

GDL Contract Law Revision Notes(Distinction Level) 2023 GRADED A Contract Law Notes Agreement and Contractual Intention Agreement: In order for parties to reach an agreement, one party must make an offer which is acceptedby the other. ‘Offer’: Professor Treitel: ‘an expression of willingness to contract on certain terms, madewith the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed.’ ‘Offeror’: Person who makes the offer....

Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer ️️ Tangible (touchable), movable personal property Bilateral Contract - Answer ️️ Promise in exchange for a promise Involves promisor and promisee Usually made to a specific person

MULTISTATE BAR CONTRACTS AND SALES – EXAM 2024 How do you form a contract? - correct answer To form an enforceable contract, there must be mutual assent (offer and acceptance), consideration, and the absence of any formation or enforcement defenses. What is consideration? - correct answer 1) A bargained-for exchange that 2) has legal value. Legal value is either a benefit to the promisor or detriment to the promisee. The promise must induce the benefit/detriment and the benefit/detrim...

Mortuary Jurisprudence Final Exam Test Questions With Revised Correct Answers Forebearance - ANSWER : Refraining from doing something you have a lawful right to do 6 elements of an enforceable contract - ANSWER : 1. Agreement 2. Assent 3. Consideration 4. Lawful Purpose 5. Competent Parties 6. Form required by law Requirements of an offer - ANSWER : 1. Contractual intention 2. Definite 3. Communicated to offeree Termination of offer - ANSWER : 1. Counter offer* 2. Rejection by...

MIE 305 Final Exam Latest Update with Verified Solutions Contract a promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements -Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for con...

Pursuant to a contract, a landscaper performed $30,000 of landscape work for a homeowner. By coincidence, the homeowner and the landscaper were involved in an automobile accident that was unrelated to the landscape work. The homeowner was injured in the accident and sued the landscaper in federal district court for negligence, seeking $100,000 in damages. The homeowner and the landscaper are citizens of different states. May the landscaper assert and maintain a counterclaim against the homeowne...

Promise - correct answer A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - correct answer The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - correct answer Tangible (touchable), movable personal property Bilateral Contract - correct answer Promise in exchange for a promise Involves promisor and promisee Usually made to a ...

what is strict performance? - Answer-recquires one party to fufill obligation and there is no deviation from the contract; obligation must be expressly demanded within the contract & the demand must be reasonable what is substantial performance? - Answer-1 party fulfills enough of the contract to obtain a warrant of payment what results from a failed substantial performance? - Answer-the party that fails to perform will receive nothing in the contract itself & will recover only the value o...

Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer ️️ Tangible (touchable), movable personal property Bilateral Contract - Answer ️️ Promise in exchange for a promise Involves promisor and promisee