Intro to Contracts
What do we look at to determine whether someone intended to enter a contract?
What is the parties outward objective actions?
what is consideration?
What is the value given in return for a promise or performance?
if you are seeking damages what are you asking the court to give you?
What is $$$$$
true or false- the SOF is an exception to the general rule that verbal contracts will be accepted?
What is True?
What are the 4 elements of a valid contract?
What are agreement, consideration, capacity, legality
Can one agree to forego a right that they have as consideration?
What is yes?
punitive damages are meant to do what?
What type of agreement is usually made in consideration of marriage that has to be in writing?
What is a pre-nuptial agreement?
Mark asks Jack to paint his car navy blue for $2,000. Jack says yes, but he only has light blue paint. Was Jack's response an acceptance?
What is no, it was a counteroffer.
what are three ways a party can respond to an offer?
What is terminate, accept, or counteroffer?
Name one exception to the requirement of consideration
promissory estoppel, statute of limitations, charitable subscriptions
Even if a plaintiff is seeking damages- they still have an obligation to do what?
Under promissory estoppel exception to the statute of frauds- the reliance on the promise has to be what?
What is foreseeable?
If a person is legally incapacitated, under the age 18, or has a cognitive disease, what do they lack regarding contracts?
What is capacity?
is a shrink wrap agreement a valid contract?
What is yes?
True or false: consideration does not have to form the basis of the bargain?
What is false?
If you are asking for specific performance- what are you asking the court to do?
What is asking the court to make the other party to perform the contract terms?
If it is possible that a contract can be performed within one year, is it subject to the SOF?
What is NNNOOOOOOO
A contract between MX Drilling company and Tom Ford grants MX the right to drill for oil on Ford's land. What rule governs this type of contract specifically?
What is the SOF?
what is the mirror image rule?
What is the acceptance must be the exact same terms as the offer?
How do we distinguish a contract from a gift?
What is a contract includes consideration on both sides, whereas a gift is just a one way offer?
If a party is asking the court to clarify or correct a term or terms of the contract – what are they asking the court to do?
What is reform the contract?
Jane and June enter a verbal agreement for Jane to buy June’s car. Jane gives June $500 as a down payment, then goes and gets a loan to pay the balance. June comes back and says she doesn’t want to sale the car, and June can’t make her because the agreement was verbal. What exception can June argue?
What is partial peformance?
What is the Parole Evidence rule?
What is the court cannot use extrinsic evidence to contradict the terms?