buisness

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Author:
Anonymous
ID:
120172
Filename:
buisness
Updated:
2011-12-01 21:28:21
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buisness
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buisness
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  1. a person who recieves a gift
    donee
  2. a promise not to do something
    forbearance
  3. a person who promises an action or forbearance
    promisor
  4. a token amount of money given as consideration
    nominal consideration
  5. a leagal concept that distinguishes between social promises and serious transactions
    consideration
  6. a change in a party's legal position as a result of a contract
    legal value
  7. a transfer of owenership without reviecing anything in reutrn
    gift
  8. a person to whom a promise is made
    promisee
  9. The most common form of legal value
    exchange of two benefits
  10. a person who gives gifts
    donor
  11. if a promise is given for consideration will it be binding
    yes
  12. if a contract contains a termination clause for any reason is the promise to preform illusory
    yes
  13. if a contract clause allows termination only after a change in defined circumstances is the promise illusory
    no
  14. does an output contract require a seller to supply all the needs of a particular buyer
    no
  15. can a party terminate a requirements contract by stopping production
    no
  16. a contract exist if an underage driver promised hir or her parents not to drive
    no
  17. can a debtor settle a claim by paying less than the full amount and promising additional consideration?
    is the paymen tof money sufficient consideration for the promise not to sue?
  18. does the debtor have to agree not to file for backruptcy in a composition of creditors
    yes
  19. if two gifts have legal value, are they considereation when they are promised
    no
  20. can an act that has already been performed serve as consideration
    no
  21. promises are enforced under the doctrine of promissory estoppel
    true
  22. promises can be enforced if the promisor knew that the promisee would reply on the promise
    true
  23. promises can be enforced even if the promisee does not act in reliance on the promise
    flase
  24. promises that involve a minimal economic loss to the promisee are always enforced
    false
  25. most courts will enforce a promise made to a charitable organization even if no specific use for the money is stated
    false
  26. the statute of limitations for most states is three years
    ture
  27. an indicidual cannot sure for the breach of contract or tort when the statute of limitations has passed
    ture
  28. a promise to leave an offer open is enforceable under common law
    false
  29. merchants are bound by firm offers for up to three months
    true

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