• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/44

Click to flip

44 Cards in this Set

  • Front
  • Back
On January 15, I offer to sell Sharon Stone my 1973 Cadillac for $ 400. The next day, while standing in the shower, I exclaim, "I have changed my mind. I do not want to sell my Cadillac to Sharon Stone." Can Ms. Sone still accept the January 15th Offer?
Yes...unless she is in the shower with me because the termination of the offer by the offeror has to be communcated to the offeree.
On January 15, I offer to sell Sharon Stone my Cadillac for $400. The next day I sell my Cadillac to Conviser. Can Ms. Sotne still accept the Janury 15th offer?
Yes because the conduct inidcating an unwillingness or inability to contract with the offeree has not been brought to the attention of Ms. Stone.
On january 15, I offer to sell Sharon Stone my Cadillac for 400. The next day I sell my cadillac to Conviser. Ms. Stone sees Coviser driving my Dacillac on January 16 and learns from him that he has bought it. Can she still accept?
No because she has been made aware of the offeror's unwillingness or inability to contract with the offeree.
On January 15, I offer to sell Sharon Stone my Cadillac for $400. Ms. Stone learns tha tI offered the car to Conviser but he has not yet accepted. can she still accept the offer?
Yes
S offer to sell her car to B. On Tuesday, S mails B a letter reoking the offer. The letter arrives on Thursday. Whn is the revocation effective?
Thursday
S offers to sell his car to B for $400. B immediately accepts. Becaue B so quickly accepts, S decides that the car must be worth more than $400. Can S still revoke his offer?
No because an offer cannot be revoked after it has been accepted.
S offers to sell B her car for $400. b pays S $10 for her primise to keep the offer open for a week. Can S still revoke the offer?
No becuase an offer cannot be revoked if the offeror has promised to keep the offer open and this promise is supported by consideration.
S offers to sell her car to B for 400. S promises to keep the offer open for a wek. Can S still revoke?
Yes becuase the offeree has not tendered consideration to the offeror to keep the offer open.
S, a used car dealer, offers to sell B a 1073 Cadillac for 400. the offer is in writing, signed by S, and expressly promises it will be dept open for a week. Can S revoke?
No because the firm offer rules requires the offer to be kept open when
1. there is in offer to buy or sell goods
2. the offer is signed, written promise to keep the offer open
3. the party is a merchant
S, a used car dealer, offers to sell B a 1973 Cadillac for $400. S makes an oral promise to keep the offer open for a week. Can S revoke?
Yes, because the firm offer rule is not met. It requires:
1. An offer buy or sell goods
2. Signed, written promise to keep the offer open,
3. The party is a merchant
S, a used car dealer, offers to sell B a 1973 Cadillac for $400. S prmises by signed writing keep the offer open for six months. Can S revoke the offer?
Yes, after three months because that is all that is required by the firm offer rule.
S offers to sell B her house for $100,000, and the written offer promises that it can be accepted for the next four months. Can S revoke?
Yes, because this offer is for the sale of real property which is not goverend by article 2 and this is not given any consideration.
A is a general contractor who is bidding on a contract to build a new hotel, using variouse subcontractors. B, a subcontractor, bids to do the apinting ork for $100,000. A uses B's bid in making its bid and is awarded the hotel contstruction contract. Can B revoke his bid?
No because an offer cannot be revoke if there has been dtrimental reliance by the offeree that is reasonably foreseeable.
O offers P $1,000 to paint O's house. O's offer states that it can be accepted only by performance. P starts painting. can O still revoke?
No because the starty of performance pursuant to an offer to enter into a unilateral contract makes tha offer irrevocable for a reasonable time to complete performance.
O offers P $1,000 to pain O's house. O's offer states that it can be accepted only by performance. P orders paint. Can O still revoke?
It may not still reovoke under the guise that performance has started toward a unilateral contract. However, it maybe precluded from being revoke because an offer cannot be rovoe if there has been detrimental relicne by the offeree that is reasonably foreseeable.
S offers Blackacre to B for 10,000. B responds, "I will only pay $9,000." S refused to sell for $9,000. Can B later accept S's offer to sell for $10,000.
No becuase a counteroffer temrinates the offer and becomes a new offer.
S offers Balcacre to B for 10,000. B's response is will you take 9,000? S refuses to sell for 9,000. Can B later accept S's offer?
Yes because bargaining does not terminate the offer.
When a Memphis law firm calls to offer you a position as an associate, your resonse is that you accept provided that you do not get assigned to the tax team. Has a contract been formed? If not, can you still cal back and accpt?
No, a contract has not been formed becaues a conditional acceptance operates tha same way as a counter offer: it terminates the offer and becomes a new offer. Look for phrases liek if, so long as, or on condition that.
B sends S a purchase order for polyester pant suits. The purchase order makes no mention of arbitration of disputes. S sends an acknowledgment form that provides for arbitration fo disputes and states "acceptance is expressly condiditon on these terms." No further communcations or actions. Is there an express contract?
No becuase a conditional acceptance operates the same way as a counter offer, it terminates the offer and beomces a new offer.
L offer to lease a building to T, sending T a signed lease that is silent about arbitration of disputes. T adds a paragraph providing for arbitration of disputers and signs. Has T accepted L's offer creating an express contract?
No becuase uner common law, an acceptance taht adds new terms is treated like a counteroffer rather than an acceptance. The mirror image rule.
B sends S a signed purchase order for grits that is silent about arbitration of disputes. S responds by sending back a signed acknowledgement form providing for arbitration disputes. Is there a contract?
Yes becuase, under the UCC a response to an offer that adds new terms, but does nto make the new terms a condition of acceptance, is generally, treated as an acceptance--is a seasaonable expresssion of acceptance.
S, a used car dealer, faxes an offer to sell a 1973 Cadillac to B, another used car dealer for 400. B faxes this response: " I caccpt. Delivere it on Saturday" No further communcations or actions. Is there a cotract? If so, is there a contract for a Saturday delivery?
Yes there is a contract and yes there is a Saturday deliver because if both parties are mercahnts, the general reule is that the additional terms is a part of the contract unless:
1. the additional terms is not a part of the contract between the merchaants if it materially changes the offer or
2. ther additonal terms i snot a part of the contract between the merchants if the offeror objects to the change
S, a used car dealer, faxes an offer to sell a 1973 Cadillac to B, another used car dealer, for 400. b faxes this response, "I accept. Deliver it on Saturday." S response to b's facx with the statement that she will deliver on monday, not Saturday. Is there contract? If so, is there saturday deliver?
Yes there is a contract becaus both parties are merchants and the general rule for merchants is that the additional term is a party of the contract. THERE WILL NOT BE SATURDAY DELIVER BECAUSE THE OFFEROR CHANGED THE OFFEREEES DELIVERY DATE.
S, a used car dealer, faxes an offer to sell a 1973 Cadillac to B, another used car dealer, for 400. b faxes this response, "I accept. Deliver it on Saturday." S response to b's facx with the statement that she will deliver on monday, not Saturday. Is there contract? If so, is there saturday deliver? Is there an express contract?
No because this is a conditional offer.
Epstein offers to sell his 1973 Cadillac to Conviser for $400. Conviser response: "I accpt. Deliver it on Saturday." No further communications or actions. Is there a contract? If so, will there be a Saturday delivery?
Yes there is a contract because if one or both parties are not merchants, the additional term is meremly a proposal that is to be separately accepted or rejected. Thus, Saturday deliver would not be mandatory unless accepted.
On 2/2, A send B a written offer. A dies on 2/4. B, not knowing of A's death, mails his acceptance on 2/6. Is this acceptance effective?
No becuase death or incapacity of either party to a contract terminates the offer.
Exceptions:
1. Option contract
2. Part performance of offer to enter into unilateral contract
I post a reward for whomever finds my lost dog. You find and return my dog, not knowing of the reward. Is that acceptance of my offer?
No because an offer can only be accepted by a person who knows about the offer who is the person to whom it is made.
I offer to sell yo umy 1973 Cadillac for $400. can you sell the offer to Conviser so that he can accept the offer?
No because offers cannot be assigned unless they are options.
You apy me $10 for a ten-day option to buy my Cadillac for $400. Can you sell the opton to Conviser so that he can now accept the offer?
Yes because the acceptance of option contrracts can be assigned.
Carbolic Smoke Ball (C) offers 100 pound payment to any who cathces the flu after using its smoke ball as directed. P uses the smoke ball as directed and still catches the fle. P did not give C notice. Can P recover the 100 pounds?
Yes becuase the offree did not have to give notice. The question of whether or not the offeree has to give notice of his acceptance turns on wheteher
1. the offeree has reason to believe that the offeror will not learn of the acceptance
2. the offer dispense with notice
O offers P $1,000 to paint his house. The offer is silent as to method of acceptance. P starts painting the house. Has P accepted O's offer so that he is contractually obligaed to continue painting O's house?
Yes because this is a bilateral offer that is oepn as to the method of acceptance, so start of performance is acceptance.
O offers to P $1,000 to paint his house. O's offer states taht it can be accepted only by performance, not by promising to perform. P starts painting O's house. Has P accepted O's offer so that he is contractually obligated to continue painting O's house?
No, because unilateral offers require perfromance for acceptance so that start of performance is not acceptance; comletion of performance is required.
B telefaxes an order for grits to S, requiresting immediate shipment. Can S accept this offer by sending a telefax promising to ship the grist?
Yes because if the facts show that an offer has been made and the offeree promises to perform, a possible issue is wheter the offer can be accepted by a promise to perform. Remember offers taht expressly require performance for acceptance and reward offers require performance.
Convister receives a letter from Epstein to sell his 1973 Cadillac for $400. On January 10, Conviser mails his letter of acceptance. On January 11, Conviser receives a letter from epstein revoking the offer is there a contract?
Yes because if an offeree is invited to accept by mail, acceptance is effective when posted. the mailbox rule.
B order a case of Vaseline petroleum jelly from S. S ships a case of Welch's grape jelly. did S accept the offer creating a contract? Did S breach that Contract?
Yes, the seller accepted the offer, forming a contract, but when he sent the wrong goods, he breached that contract.
Esptein offers to sell his 1973 Cadillac to Conviser for $400 Conviser replies: "if you don't hear from me before Friday, I accept. Is this a valid acceptance of an offer?
Yes because althoug silence is not acceptance, if an offeree by words or conduct agrees that silence is acceptance then silence is acceptance.
Agreements that are not legally enforceably are:
1. laci fo consideration or a consideration substitute for the promise at issue
2. lack of capacity of the person who made that promise
3. statute of frauds
4. existing laws that prohibit the performance of the agreement
5. misrepresentations
6. duress
7. unconsionability
8. ambiguity in words or agreemnt
9. mistakes at the time of agreemnet as to material facts affecting agreement
P a kind and prosperous person, says to H, a kind and homeless person, "if you go around the corner to the clothing shope there, you may purchase an overcoat on my credit." is this a contract or a conditional gift?
This is probablay a contract because it was asked for by the promisor in exchange for her promises.
I make the following promise: "stop listening to records by Kinky Freidman, for tow mognth and I'll pay you $100." Is there consideration through the bargained for legal detriment test supporting my promise to pay you $100?
Yes, if you gave up something inorder to get the money.
B promises to buy S's house and S promise to sell his house to B. Is there consideration for B's promise to buy? Is there consideration for S's promise to sell?
Yes for each because promises are sufficient forms of consideration.
Epstein enters into an agreement with Convister; Epstein agrees to sell his cadillac to conviser on Dec. 7 unless Conviser chages his mind. Is Epstein legally obligated to sell the cadillac to conviser? was there consideration for epstein's promise to sell his cadillac? what kind of promise is this?
No because this is an illusory promise in whihc the promisor has not committed hierself in any manner and it is not consideration.
Suppose Conviser promises to buy the car on December 7 unless he notifies Estein by December 6th that he has changed his mind. Is this Conviser promise consideration so that Epsetin is legally obligated to sell the Cadillac to Conviser?
Yes
Apu saves Lisa's life. Homer is so grateful that he promises to pay Apu $3000. Homer later changes his mind. Is hsi promise legally enforceable?
No becasue past consideartiona is no consideration.
Homer see Lisa in danger and asks apu to save her, knowing that apu would expect to be paid. after apu save lisa, homer promies to pay apu 3,000. is this promise legally enforceable?
yes because the conduct was expressly requested and the actor expected payment.