Contracts -

Card Set Information

Contracts -
2012-07-02 12:48:52
Tx Bar

Bar Stuff
Show Answers:

  1. When you enter into a contract with a minor, is a possible remedy specific performance.
    No, because the contract is voidable at the discretion of the minor.
  2. What are the requirements for a valid contract?
    • 1. offer
    • 2. acceptance of that offer
    • 3. consideration
    • 4. legal capacity to enter into the contract
    • 5. legal objective for entering into the K 
  3. What do you need for an offer?
    • 1. an outward manifestation that
    • 2. signals that acceptance will conclude the deal 
  4. How can an offer be revoked?
    lapse of time



    revocation by offeror

    revocation by offeree 
  5. What are the elements for an enforceable option K @ common law?
    an offer

    a subsidiary promise to keep the offer open

    some valid mechanism for sercuring enforcement of the subsidiary promise 
  6. What is needed for a firm offer under the UCC? 
    offer made by merchant

    in writing

    signed by merchant

    the term expressly states the offer will be held open  
  7. What is needed for acceptance under common law?
    "mirror image rule" - the acceptance must mirror the terms of the offer

    acceptance must be communicated to the offeror 
  8. When can silence consitute an offer? 
    (1) where the offeree takes the beneft of the offeror's services with a reasonable oppourtunity to reject them and with reason to know the offeror's intention.

    (2) the offeree has reason to understand that acceptance may be communicated by silence

    (3) because of previous dealings or other circumstances, it is reasonable that the offeree should notify the offeror if he does not intend to accept 
  9. Is the mirror image ruled used in the UCC for the sale of goods?

    The UCC rejects the common-law marriage rule and recognizes a binding contract, despite the presence of non-conforming acceptance, in two situations, the shipment of non-conforming goods and the so called battle of the forms 
  10. What can consideration be?
    • 1)  a return promise to do something
    • 2) a return promise to refrain from doing something
    • 3) the actual act of doing something
    • 4) refraining from doing an act 
  11. What is the difference between an illusory promise and a unilateral contract?
    In an illusory promise the performing party has promised to do something but it is up to his discretion making it illusory

    In a unilateral contract, the performing party has not promised to perform but if he does then he has a K and is entitled to the benefits under it 
  12. What do you need to claim promisory estoppel to form a K out of a gratuitous promise?

    Foreseeable reliance

    Actual reliance

    Injustice w/o enforcement 
  13. What contracts fall under the SOF? MYLEGS?

    Year - contracts that will not be completed within one year


    Executor/Administrator contracts used to answer for a duty of the decedent


    Sale of goods @ 500 or more - this is a UCC provision; needs only price
  14. What are some workarounds the SOF's requirement that the sale of goods @ 500 or more be written
    (1) if payment for the goods have been made and accepted and 

    (2) if the goods have been recieved and accepted

    (3) goods that are specially manufactured for the buyer and are not suitable for sale to others in the ordinary course of sellers business as long as the seller has begun to manufacture the good or made commitments to procure
  15. What does an SOF writing need @ common law?
    identity of the parties

    nature and subject matter of the K

    essential terms of the unperformed promises in he agreement6yhf 
  16. What is the parol evidence rule?
    When parties have adopted a writing as their agreement, and intend that the writing represent their full agreement, no evidence can be admitted to  vary, contradict, add to, or subtract from the oligations as they are stated in the writing
  17. Under the parol evidence rule for what purpose can you introduce parol evidence
    (1) to explain or interpret terms of the K

    (2) to supplement terms of a written K

    (3) for a UCC contract, trade usage and course of dealings 
  18. When does the parol evidence rule not apply, thus the evidence is coming in?
    (1) to prove subsequent agreeements that relate to the initial contract

    (2)  Collateral agreements that have nothing to do with the initial contract

    (3) Attack on the validity of the written agreement

  19. What are the ways a party can be excused from performance? 
    • (1) Mistake
    • (2) Impossibility
    • (3) Impracticability
    • (4) Frustration of Purpose
    • (5) Mutual recission
    • (6) Accord and Satisfaction 
  20. If you have a contract can you have a split of terms and conditions

    Here is a model answer

    "In certain contracts, a party's obligation to perform is conditioned upon some event or action by the other party. Under contract law, a condition is a contingency: (1) which must be satisfied before a party is obligated to perform; or (2) the happening of which will extinguish one or more contractual obligations. In colloquial speech, however, the word "condition" is often misused. For instance, in this case, although the businessman used the expression "These are my conditions," not all terms of the contract are actually conditions. Instead, the businessman was describing terms of the proposed bargain to the buyer (that is, the terms of the offer). The transfer of the business to the name of the buyer in a certain time period is the only condition in this contract. It is a condition precedent to the buyer's obligation to provide the businessman office space rent-free for the duration of the consulting contract. 
  21. If a condition or performance of the K is excused because of impossibility but the performer performs anyway...just at a later date. Does the promisor still have to pay?

     Under the facts presented, the homeowner's duty to pay the contractor the entire contract price was conditioned on the contractor's completing the project by March 30. However, this condition would not be considered a material part of the bargain. The homeowner still received what she bargained for, even in the absence of the condition being fulfilled: an additional room onto her house. Since performance of this condition became impossible due to the snowstorm, the condition is excused. The homeowner will be required to pay the contractor the entire contract price. 
  22. If a person does not pay when services are rendered and there was o discussion of when payment was due may that person decide the date herself

    Parties to a contract often fail to specify a time of payment. In such a case, courts will impose a constructive condition of payment due when services are rendered. 
  23. When does the parol evidence apply?
    The parol evidence rule applies to to exclude communications and evidence which took place or otherwise arose prior to or contemporaneously with the execution of the written contract.

    So anything that came after the K in question can be admitted.

    Possible Answer "No, because the written contract came first and the oral agreement came after it." 
  24. If and oral agreement was to made to include a creditor beneficiary in a contract but due to mistake, a creditor beneficiary is not mentioned in the contract, can he still prevail to get his money?
    Yes because of reformation.

    When two parties reach an oral agreement and then commit their agreement to writing, a mistake by either party in transcribing, or by a third-party typist, will allow the contract to be reformed.
  25. Q: Widow wanted a cabin in the woods of Vermont. She brought a lot on the side of a hill and hired a local carpenter to build her cabin. Construction began late in the year. By December, the carpenter had finished about 75 % of the work on the cabin when an avalanche completely wiped out the cabin. The carpenter refused to build a new cabin for the widow, and the widow refused to pay the carpenter anything for the work he had performed. The carpenter filed a breach of K contract action against the widow

    What amount is the carpenter entitled to recover from the widow for his work on the cabin? 
    The occurrence of destructive force of nature was not unforeseeable--such events happen all the time--but the parties failed to allocate the risk, nor is the carpenter's duty to perform discharged by impossibility. Although it would be very expensive for him to perform, courts are reluctant to call such performance "impossible." As such, the carpenter's duty to build the cabin is not discharged by the destruction of the building; he is required to rebuild, and his refusal to do so constitutes a willful breach of contract. He will be liable to the widow for breach of contract if he does not fulfill his contractual obligations.
  26. Who can be effected by a bill of attainder?
    A bill of attainder can effect specific named person, persons, or easily ascertainable group