Chapter 2
What is Arson?
the willful and illegal burning of a building.
How many amendments are in the bill of rights?
first 10 Amendments
when a party agrees to an offer
Acceptance
both parties have an incorrect belief about an important fact. If mutual mistake occurs, the contract is void.
Mutual mistake
That which is given or received in a contract.
Consideration
What is a Misdemeanor?
a less serious crime. It is usually punishable by confinement in a county or city jail for less than one year, by fine, or both.
What is the Court of Claims?
hears lawsuits brought against the State of New York
this rule states that the terms of acceptance must exactly match the terms of the offer
mirror image rule
Three Elements of Misrepresentation
1.Untrue statement of fact
2. Materiality – statement must be material to the transaction
3. Reasonable reliance
The parties agree that a debt exists and on the amount of the debt.
Liquidated debt
what is Larceny?
commonly known as theft, the wrongful taking of personal property.
How long do Justices serve?
A life time
which of the six requirements of contracts is only a requirement for some types of agreements
Writting
Name two types of untrue statement of facts
-Active concealment
-Silence
What is the output contract?
A buyer agrees to purchase all of a particular producer’s goods.
What is False pretenses?
obtaining money or property by lying, victim parts with the property voluntarily
what is the 2nd amendment?
The right to own a firearm.
which of the three requirements of an offer states that a person who is not the intened offeree cannot accept the offer
communication to the offeree
Four Types of Threats to be considered Duress
Threats of illegal conduct
Threats to report crimes (extortion)
Threats to sue
Economic threats
what is Promissory estoppel?
Under this doctrine, a promise can be enforced even though no consideration is given for it.
Examples of Civil Cases?
Wrongful Death
Conversion
Divorce
Negligence
Assault & Battery
What year was the New York’s first Constitution adopted in?
1777
what is the name of the act that makes firm offer binding for the time stated up to 3 months
UCC-Uniform Commercial Code
important facts that influence the parties' decisions about a contract.
Material fact
what is the Statute of limitations?
A time limit for bringing a lawsuit. In most states, the statue of limitations for breach of contract is 3 years.