Contracts

Front 1

Restitution (the elements)

Back 1

1. Benefit conferred with expectation of payment;
2. recipient would be unjustly enriched if allowed to keep the benefit;

Front 2

Detriment of Reliance (the elements)

Back 2

1. One detrimentally and justifiably relies on the promise;
2. there was a reasonable expectation of reliance
3. the def would be unjustly enriched

Front 3

Duress (definition)

Back 3

wrongful threat of violence or imprisonment

Front 4

Economic Duress (the elements)

Back 4

1. withholding "necessary" goods
2. inability to obtain goods elsewhere
3. a breach of contract action would not be effective.

Front 5

Duty to Disclose (the elements)

Back 5

1. when there is a misrepresentation
2. special relationship between the parties
3. when information is concealed

Front 6

Undue influence (elements)

Back 6

1. excessive pressure
2. a special or dominant relationship
3. taking advantage of someone in a weak state of mind
4. without opportunity to seek council

Front 7

Illegal Contracts (elements)

Back 7

1. to do an illegal act
2. bride a public official
3. collude

Front 8

Contracts of Adhesion (elements)

Back 8

They are:
1. standard form contracts
2. there's an inequality of bargaining power
3. take-it-or-leave-it situation

They are unenforceable when:
1. they are unconscionable or
2. it's outside the reasonable expectation of the weaker party.

Front 9

Elements of a Contract

Back 9

1. Consideration
2. Offer
3. Acceptance
4. Assent
5. Mutuality of Obligation
6. Definiteness

Front 10

Bilateral v. unilateral

Back 10

bilateral: both parties are bound from the beginning; a promise for a promise;

unilateral: only one party is bound in the beginning; a promise for performance;

Front 11

Statute of Frauds (the items)

Back 11

1. Land/Sale
2. Contracts that can't, by the terms of the contract, be performed in a year
3. shueretyship
4. administrator/executor's promise to pay the debt of the deceased.
5. marriage
6. UCC rules

Front 12

Defenses to Statute of Frauds

Back 12

- promissory estoppel;
-restitution;
-an in court admission that there is a contract;
- part-performance;

Front 13

Defenses to Breach of Contract

Back 13

1. unconscionable
2. contrary to public policy
3. contract of adhesion
4. no assent
5. illegal contract
6. misrepresentation that is relied and is material;
7. undue influence
8. duress/economic duress
9. failure to disclose
10. agreement lacks one of the elements of the contract

Front 14

Reliance Damages

Back 14

puts innocent party in the position they would be in if no contract was made --Status quo ante;

Front 15

Expectation Damages

Back 15

puts the innocent party in the position that they would have been in if the contract had been performed; gives them the benefit of the bargain;

Front 16

Restitution Damages

Back 16

returns to the innocent party the benefit conferred to the breaching party; you get your money back;

Front 17

Nominal damages

Back 17

no loss was suffered, but it recognizes a breach;

Front 18

Equitable remedies

Back 18

specific performance, or an injunction, for when money will not make them whole; you can only get this when the contract is equitable/fair