Blaw 371 Exam 3 Good

Front 1

Catalog

Back 1

Things which are not offers

Front 2

Terminating an offer

Back 2

1.Counter-offer
2.Withdrawl

Front 3

Consideration/Promissory Estoppel

Back 3

1) Reasonable promise
2) Detrimental Reliance
3) Unfair

Front 4

Fraud/Misrepresentation

Back 4

Fraud- intentional creation in the mind of another of a material fact, which is not true upon which the other party relies.
Misrepresentation- Unintentional

Front 5

Duress

Back 5

Unlawful Persuasion

Front 6

Undue Influence

Back 6

Unfair persuasion by a dominant person over a subservient person.

Front 7

Statutes of Frauds and Limitations

Back 7

Frauds- certain types of law require to be evidenced in writing.

Limitations- Set a time limit on how long you have to file a lawsuit.

Front 8

Parol Evidence Rule

Back 8

Written evidence is better than Oral evidence.

Front 9

Contract Rights and Duties

Back 9

You have the right to give.
You must do the duty.

Front 10

Assignment and Delegation

Back 10

Rights=assigned.
Duties=delegated, except if it changes the nature of the contract.

Front 11

Consequential Damages

Back 11

Indirect Damages

Front 12

Liquidated Damages

Back 12

Damages agreed upon in advance in the contract.

Front 13

Specific Performance

Back 13

Needed when money won't compensate you.
Court makes them perform action.

Front 14

Territory Allocations

Back 14

When competitors divide up a competitive territory.

Front 15

Sherman Anti Trust Act

Back 15

Part 1. Prohibits agreements that restrain trade.
Part 2. Prevents Monopolies or attempts at monopolies.

Front 16

Clayton Anti Trust Act

Back 16

Prohibits attempts at monopolies that lessen competition.

Front 17

FTC Act

Back 17

Prohibits unfair methods of competition.

Front 18

Price Fixing

Back 18

When two or more competitors agree on a price.

Front 19

Resale Price Maintenance

Back 19

Manufacturers setting a minimum price for an item.

Front 20

Illegal Tying arrangements

Back 20

To get something you want, you have to buy something you don't want from a supplier.

Front 21

Red Herring

Back 21

Prospectus that's not yet been approved by the SEC.

Front 22

Insider Trading

Back 22

Insider knows something that the public doesn't know and uses it to their gain.

Anyone who has access to information can be an insider.

Front 23

Blue Sky laws

Back 23

Name given to the collection of 50 states' securities laws.