The concept of federal law taking precedence over state law.
Preemption Doctrine
100
_______ is a contract in which if one party fails to perform as promised, the other party can use the court system to enforce the contract and recover damages or other remedy
Legally Enforceable Contract
100
__________ is a doctrine that allows minors to disaffirm (cancel) most contracts they have entered into with adults
Infancy Doctrine
100
_____________ is a rule that says an open term can be “read into” a contract.
Gap-Filling Rule
100
___________ is created when a seller or lessor makes an affirmation that the goods he or she is selling or leasing meet certain standards of quality, description, performance, or condition
Express Warranty
200
______ sets up a line of demarcation between the functions and operations of the institutions of religion and government in our society.
__________ is a contract that provides that a seller of a business or an employee will not engage in a similar business or occupation within a specified geographical area for a specified time following the sale of the business or termination of employment
Noncompete Clause
200
______________ is a rule in the UCC that requires all contracts for the sale of goods costing $500 or more and lease contracts involving payments of $1000 or more to be in writing.
Statute of Frauds
200
_______________ must specifically mention the term merchantability for the implied warranty of merchantability to be disclaimed.
Disclaimer of the Implied Warranty of Fitness of a Particular Purpose
300
What is the difference between assault and battery?
Assault- attempts to cause bodily harm to another, puts another in fear of imminent danger, negligent
Battery- intentional, unconsented to touching of another that is harmful or offensive
300
_______ is a comprehensive scheme that includes laws that cover aspects of commercial transactions.
Uniform Commercial Code
300
____________ is a promise in which one person agrees to answer for the debts or duties of another.
Guaranty Contract
300
_______________ is the right of a seller or lessor to refuse to deliver goods to a buyer or lessee upon breach of a sales or lease contract by the buyer or lessee contract by the buyer or lessee or the insolvency of the buyer or lessee.
Right to Withhold Delivery
300
___________ are expressions that make it clear to the buyer that there are no implied warranties.
“As-Is” Disclaimer
400
Name the 4 elements of negligence
Duty, Breech of Duty, Causation, Damages
400
_________ is an equitable doctrine that prevents the withdrawal of a promise by a promisor if it will adversely affect a promisee who has adjusted his or her position in justifiable reliance on the promise.
Promissory Estoppel
400
If a written contract is complete and final statement of the parties’ agreement, any prior or contemporaneous oral or written statements that alter, contradict, or are in addition to the terms of the written contract are inadmissible in court regarding a dispute over the contract. This is the _____________.
Parole Evidence Rule
400
___________ is an action by a buyer or lessor to recover scarce goods wrongfully withheld by a seller or lessor
Replevin
400
____________ a federal statute that regulates written warranties on consumer products
Magnuson-Moss Warranty Act
500
______ is all manufacturers, distributors, wholesalers, retailers, lessors, and subcomponent manufacturers involved in transaction
Chain of Distribution
500
_________ is a rule which states that for an acceptance to exist, the offeree must accept the terms as stated in the offer.
Mirror Image Rule
500
___________ is an order of the court that orders that wages, bank accounts, or other property of the breaching party held by third persons to be paid to the nonbreaching party to satisfy a judgment.
Writ of Garnishment
500
_____________ is a rule which provides that an action for breach of any written or oral sales or lease contract must commence within four years after the cause of action accrues. The parties may agree to reduce the limitations period to one year.
UCC Statute of Limitations
500
______________ warranty in which the lessor warrants tat no person holds a claim or an interest in the goods that arose from an act or omission of the lessor that will interfere with the lessee’s enjoyment of his or her leasehold interest.