chapter 8 cards

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chapter 8 cards
2012-02-29 00:54:14
mort law

chapter 8 law cards
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  1. consideration is?
    price demanded and received in return for a promies
  2. adequacy of consideration rule
    a principle that courts do not examine the vlue of considerations exchanged
  3. t/f miles promised to buy als car for a stated sum in three days if, at that time, miles still wants to buy the car. in this case, miles promise is not consideration
  4. in rare cases, certain unforseen difficulties may be consideration sufficient to support a contract
  5. t/f len promises not to breach a contract with lisa. lens promise is not consideration
  6. t/f a gift does not require the donee(person receiving the gift to give consideration.
  7. t/f consideration is not required in order to modify a contract to sell goods
  8. in which case is the creditor entitled to sue for the unpaid balnace of the dept
    alice owed otis 500. the debt was undisputed. alice and otis agreed taht she would pay 200 in consideration for his promise to release alice from the balance of the debt.
  9. rod contracted to build a garage for tim. the contract required rod to pay for all materials. later, tim promised to pay rod an extra 500. tims promise is binding if it is given
    rods promises to both perform the original contract with tim and construc a shed, which rod was not obligated to build
  10. y/n can a promise to refrain from from suing another be consideration
  11. y/n does the ucc require a modification of a sales contract to be supported by consideration
  12. when a person makes a promise to a second person and taht person reasonably and tetrimentally relies on the promise, the promisor cannot claim that the second person did not give consideration in order to avoid the promise. this doctrine is known as
    promissory estoppel
  13. t/f Forbearance is valid consideration if the promisor has a right to do the act.
  14. Which of the following can be called valid consideration?
    A promise to do something in exchange for another promise.
  15. consideration can include:
    giving aways one car
  16. Refraining from doing something is valid consideration when the act refrained from:
    Refraining from doing something is valid consideration when the act refrained from: