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Operation of Contracts
Discharge of Contracts
Final Jeopardy
100
This law states that certain executory contracts must be in writing in order to be enforceable.
What is the Statute of Frauds?
100
A person who is not party to a contract, but whose enforceable rights are created when the contract is formed.
What is intended third party beneficiary?
100
Define anticipatory repudiation.
What is when a party announces their intention to breach the contract? It is also referred to as an anticipatory breach.
200
_______ states that any spoken or written words in conflict with what the written contract states cannot be introduced as evidence in courts.
What is parol evidence rule?
200
Difference between an intended third party beneficiary and an incidental third party beneficiary.
What is parties did not intend to benefit the incidental beneficiary and the incidental beneficiary does not have enforceable rights? Ex. Bill and Ted plan to build a new theme park. Susan, a nearby landowner begins to build a hotel so park goers can stay there. Bill and Ted cancel the contract. Susan cannot sue to enforce the contract because she is an incidental third party beneficiary.
200
Agreement, performance, impossibility, consumer law, alteration, breach and law (operation of).
What is way a contract can terminate?
300
Name three types of agreements that must be in writing in order to be enforceable.
What is Marriage, Goods $500, Over 1 year, Land, Debts of another (including executor of estate)? My GOAL is for the contract to be enforceable. Statute of Frauds can only be applied to executory contracts -- once a contract is executed, it cannot be canceled merely because it was not in writing. Exception to land: partial performance thus proving the existence of the contract. (Ex. buyer moves into property and made significant improvements to property; paid all/part of the purchase price)
300
Many contracts can be assigned or delegated unless it concerns ________.
What is personal service contract? Also, if a contract contains a provision that prohibits assignments and delegations, then it can't be transferred. If a contract contains language like "best effort," then can't transfer. Statutes may also prohibit assignments such as a soldier or gov't official assigning their pay.
300
Name 2 ways a contract is terminated.
What is APlICABLe (Agreement; Performance; Impossibility; Consumer law;Alteration; Breach; Legal)?
300
Name the consideration. Was it an enforceable contract?
What is Consideration: Jiggy promise to give horse; Felicity to ride the horse. Offer made in anger (no reasonable person would think that he was serious)? Offer was not a public offer. (No communication to anyone; Felicity happened to overhear.)
400
An oral promise to pay the debts of another is _______ in some states if the promise is not dependent on the inability or unwillingness of the other party to pay them.
What is enforceable?
400
Person remains secondarily liable under the contract.
What is the delegator? The original promisee can sue either the new obligor or the delegator. If he sues the delegator, the delegator may sue the new obligor.
400
What do you call the damages generally awarded by courts when there is a breach of contract?
What is compensatory damages -- a sum of money that will compensate for his or her loss. Consequential damages are monetary compensation for losses resulting from the special circumstances of a plaintiff that are foreseeable by both parties to a contract. Nominal damages -- plaintiff wins but no actual damages as a result of breach. Specific performance -- $ jmt will not really repay an injured party for breach of contract. Court orders the breaching party to perform the contract. Only given when something is unique -- an antique, original painting, land. Personal services almost never awarded.
500
A memorandum is sufficient to satisfy the Statute of Frauds must contain what:
What is SIPPS (Subject, Identities, Promises, Place and date, Signature)?
500
Difference between novation and delegation.
What is novation involves a new agreement where the new promisor promises to fulfill the old promisor's duties. The old promisor is expressly released. If the new promisor defaults, the old promisor cannot be sued. In delegation, there is no new agreement and the old promisor/delegator is not released but remains secondarily liable.
500
Te obligation of the injured party to protect other party from any unnecessary damages.
What is mitigation?