Card Set Information
UNT BLAW3430 ch9 11 BLAW
Rough review over chapters 9 through 11 for the final exam
What are the requirements of a contract?
legality of contract objective
capacity of parties
What is an unenforceable contract?
a contract that is not in writing when it should have been
What is the promissory estoppel?
promissee reasonably relied on promise
reliance was substantial
What is a quasi contract?
- recipient is aware of benefit received
- kept benefit
no, real contract, but one party thinks there is a contract and gave up sth of value
What are the 2 parts of mutual assent?
Assent must be:
serious (perceived as serious)
made with competence
What are the 3 requirements for an offer?
serious and objective intent
terms must be reasonably definite or ascertainable
must be communicated to offeree
How can an offer be terminated by the parties?
offeree: rejection, counter offer, acceptance
When are offers, revocations, rejections, counter offers, and acceptances valid?
: as soon as sent ("mail box rule")
: as soon as received
What is the mirror image rule?
acceptance has to have exact terms as offer
How can an offer be terminated by law?
lapse of time
destruction of objective
death or incompetency of one of the parties
offer becomes illegal
What are the requirements of a valid acceptance?
made by person to whom offer was made
w/out condition or exception
When is silence regarded as acceptance?
prior agreement that silence means acceptance
parties are merchants and offeree has not replied within 10 days of offer
What are the means an acceptance can be sent?
: same or faster means as offer
: reasonable means
When is a contract void?
physical threat is used to get acceptance
fraud in execution (deceit as to document signed)
involves person under guardianship
When is a contract voidable?
threat (not physical) is used to get acceptance
fraud in inducement (false representation of material fact made w/ intent to deceive, but victim had justifiable reliance)
palpable unilateral mistake
involves minor, person w/ mental illness or defect, person under influence of prescribed meds