Unit 2 Contract Law Review

Which of the following is NOT a remedy for a breach of contract?

In order for the acceptance to be legally binding, it must be

Actions that make inappropriate use of one's power over another

When a contract ends, it is said to be

If you wait too long to bring a lawsuit, the court may not uphold it because it could be

Capacity rules allow minors, the mentally impaired, and some others to disaffirm a contract.

The age of majority in most states is

A minor who claims to be over the age of majority commits

The taking back of an offer by the offeror is

You have a right to sue a person who breaches a contract made with you.

Wrongful acts of one of the parties may discharge a contract by

When a person fails to perform the duties of the contract

Mutual mistake is also know as

The legal transfer of a right under a contract is called a(n)

When the major requirements of a contract have been completed with minor details left

If what seems to be a valid contract turns out not to be, the contract is

When a guardian is appointed for a mentally impaired person, that person's contracts are then

An oral contract is not enforceable by law

The BEST EVIDENCE RULE requires that

To be effective, an offer must be communicated to the

When a bilaterial mistake is made, neither party may void the contract.

Specific performance asks the court to order the other party in a contract to

Contracts that must be in writing include those contracts

An offer to do what you have agreed to do under a contract is called

A deliberate deception to secure unfair or unlawful gain is called

Transfer of a duty under a contract

A contract that contains a promise by both parties is

A person may win a lawsuit for fraud even if NO LOSS was suffered

Ending a contract by mutual release is not allowed by law

Your friend lost her bracelet and offers you a reward of $50 if you find it. This creates a

Giving up something that one has a legal right to do is a type of

A contract that amounts to nothing and has no legal effect is

When a minor disaffirms a contract, merchandise received upon entering the contract should be

The doctrine of substantial performance is often applied to construction contracts.

A promissory estoppel is an example of an exception to the requirement of

A court may refuse to enforce a contract that it finds

When parties fulfill the terms of a contract by doing what they promised earlier to do

A minor is held responsible for the fair value of

A contract that is void has no legal effect

Threats of a business nature that cause a person to enter into a contract would be

Invitations to deal, trade, or make an offer by the seller are considered invitations

When actual physical force is used to cause a person to enter a contract, the contract is void

In contract law, consideration is defined as