Contract Law Overview

<p>When the primary purpose of the contract remains achievable despite difficulties. (A)</p> Signup and view all the answers

<p>The circumstances under which the contract was signed showed unfair advantage. (A)</p> Signup and view all the answers

<p>It must be conspicuous. (C)</p> Signup and view all the answers

<p>18 (B)</p> Signup and view all the answers

<p>Physical duress. (D)</p> Signup and view all the answers

<p>It involves deception and intent to mislead. (A)</p> Signup and view all the answers

<p>The contract is void from the beginning. (C)</p> Signup and view all the answers

<p>That the victim was pressured to act against their best interests. (C)</p> Signup and view all the answers

<p>Financial status of the victim. (B)</p> Signup and view all the answers

<p>If the nondisclosure significantly affects a party's decision. (B)</p> Signup and view all the answers

<p>Evidence of coercion through financial threats. (C)</p> Signup and view all the answers

<p>The expressed warranty takes precedence over the disclaimer. (C)</p> Signup and view all the answers

<p>Contracts for specifically manufactured goods (D)</p> Signup and view all the answers

<p>Contain the signatures of all parties involved (B)</p> Signup and view all the answers

<p>Consistent additional terms that supplement the agreement (A)</p> Signup and view all the answers

<p>Statute of Frauds (C)</p> Signup and view all the answers

<p>No principle allows it (A)</p> Signup and view all the answers

<p>The contract must be documented in writing (A)</p> Signup and view all the answers

<p>One party fulfills part of their obligations under an agreement (C)</p> Signup and view all the answers

<p>Partially integrated contracts (A)</p> Signup and view all the answers

<p>If it fails to satisfy the writing requirement (A)</p> Signup and view all the answers

<p>To determine if a contract is fully or partially integrated (A)</p> Signup and view all the answers

<p>Evaluate the intent of the parties (A)</p> Signup and view all the answers

<p>It must not contradict the written agreement (B)</p> Signup and view all the answers

<p>Express warranties arise from explicit seller statements (B)</p> Signup and view all the answers

<p>Javins v. First National Realty Corp (B)</p> Signup and view all the answers

<p>To determine if UCC or common law applies to a contract (D)</p> Signup and view all the answers

<p>A seller describes a product as the best in its category (D)</p> Signup and view all the answers

<p>The product is fit for the ordinary purposes for which such goods are used (B)</p> Signup and view all the answers

<p>Implied warranty of fitness for a particular purpose (B)</p> Signup and view all the answers

<p>The actions of the parties in prior transactions (D)</p> Signup and view all the answers

<p>Consideration (B)</p> Signup and view all the answers

<p>A promise made in return for an act (B)</p> Signup and view all the answers

<p>Awareness of terms before agreeing to a contract (C)</p> Signup and view all the answers

<p>Hamer v. Sidway (A)</p> Signup and view all the answers

<p>The acceptance of terms that do not match (B)</p> Signup and view all the answers

<p>Predominant purpose test (A)</p> Signup and view all the answers

<p>Terms are accessible via a link at the bottom of the screen (B)</p> Signup and view all the answers

A legally binding agreement between two or more parties, creating obligations that are enforceable by law.

A meeting of the minds where both parties agree on the essential terms of a contract.

Something of value exchanged by each party in a contract, which creates a binding agreement.

A contract where one party's acceptance of the offer is by performing the contract's requested action, not simply by promising to perform.

Stages involved in creating a valid contract. An offer is a proposal while acceptance means agreeing to the offer.

A set of laws governing contracts for sale of goods (tangible items) in the US.

A section of the UCC that clarifies how differing contract terms in offers and acceptances affect contract formation.

Certain contracts must be in writing to be enforceable.

Oral agreements can't contradict written contracts. Only some oral agreements can complement.

A contract intended to be the complete and final agreement with all terms.

A contract that is final, but not complete; some terms may be missing, additional oral terms can be added

Certain contracts, though not written, can be enforced. Examples include partial performance, or unjust enrichment.

Goods made specifically for a buyer, are exempt from written contract requirements

Making a partial payment for a good confirms partial payment

Contracts for goods, over certain prices, must be in writing following the contract laws in the state(usually with some exceptions).

Written contracts deemed final cannot be contradicted or changed by earlier oral agreements

A doctrine that allows courts to refuse to enforce contracts that are so unfair or one-sided that they shock the conscience. This can involve procedural or substantive unconscionability.

Occurs when there's a lack of fairness in the bargaining process, like unequal bargaining power, hidden terms, or pressure to accept terms.

Focuses on the actual terms of the contract, where the terms are excessively harsh or unfair to one party compared to the other.

A situation where both parties to a contract are mistaken about a material fact that significantly affects the contract's subject matter. This can lead to contract rescission.

Occurs when only one party is mistaken about a material fact in a contract. Usually, the mistaken party can't get out of the contract, but there may be exceptions depending on the circumstances.

How the parties have previously acted under a contract, providing precedent for interpreting the contract.

A seller makes a promise or affirmation of fact about the goods, creating an obligation on the seller, or a promise of a description of goods that would apply to the deal.

A warranty that goods are fit for ordinary purposes for which such goods are used

A warranty that goods are fit for a specific purpose communicated to the seller, ensuring it meets the buyer's needs.

A person who deals in goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction.

Previous commercial dealings between parties establishing a pattern or routine for future agreements. This pattern helps understand expected conduct.

Established practice in a particular industry or trade that affects the interpretation of contracts. A norm for how things operate in a certain industry.

Agreement is finalized in the written version. It contains all terms of the agreement and no additional terms are allowed.

A statement in a contract that eliminates or limits the seller's liability for certain defects or problems with a product or service.

A disclaimer that is easily noticeable and understandable to a reasonable person, typically in a larger font size, bold, or contrasting color.

A legal guarantee that a residential dwelling is fit for human habitation, including basic necessities like water, heat, and safety.

Circumstances where a contract may be considered unenforceable due to factors like the parties' incapacity, unfair bargaining, or public policy violations.

An agreement made by someone under the legal age of majority which may be voidable at their option.

A situation where someone's mental state prevents them from understanding the nature and terms of a contract, making it voidable.

When a party is forced into a contract under illegal threat or pressure, which can invalidate the agreement.

When one person exploits another's weakness or vulnerability to gain an unfair advantage in a contract.

When someone makes a false statement that leads another party to agree to a contract.

The failure to reveal important information that would influence someone's decision to enter a contract.