Contracts Quiz (Udc-Dcsl) 1

Front 1

Rhetoric

Back 1

Rhetoric is the study or art of using language effectively

Front 2

Bargain Principle

Back 2

The bargain principle is the central belief that an agreement to exchange one thing for another gives rise to mutual obligations.

Hint 2

give rise to mutual obligations

Front 3

Commonplace

Back 3

A commonplace is an idea, story, or belief that is widely held.

Front 4

Mendicancy

Back 4

Mendicancy is the state of need to solicit money or food

Front 5

Gratuity

Back 5

A gratuity is a gift provided with no expectation of compensation.

Front 6

Laissez Faire

Back 6

Laissez Faire is the economic doctrine stating that the free market should be allowed to operate free of governmental interference.

Hint 6

doctrine, free market

Front 7

Economics

Back 7

Economics is the study relating to, or based on the production, distribution, and consumption of goods and services

Hint 7

goods and services

Front 8

Reliance Principle

Back 8

The reliance principle is the central belief that the parties within a contract are expected to depend upon each other as obliged.

Hint 8

depend, as obliged

Front 9

Promissory Estoppel

Back 9

Promissory Estoppel is the theory of law that prevents one from asserting a cause, fact, or issue that belies a promise upon which someone else has relied.

Front 10

Estoppel in pais(pais is latin)

Back 10

Estoppel in pais is a situation in which, because of something which he or she has done or omitted to do, a party is denied the right to plead or prove an otherwise important fact, arising out of the acts and conduct of the party estopped

Hint 10

situation, denied right, otherwise important

Front 11

Restitution Principle

Back 11

A Restitution Principle is the idea that one ought to pay for benefits unjustly retained.

Front 12

Objective Standard of Contract Interpretation

Back 12

The Objective standard of contract interpretation is the view that the creation of an agreement is based on the external actions of both parties through the lens of a reasonable person, not based on the subjective theory of the meeting of the minds.

Front 13

Unilinear

Back 13

Unilinear is following a single consistent path of development or progression.

Hint 13

following, development

Front 14

Indigenous

Back 14

Indigenous is any idea or object which is innate, inherent, or inborn.

Front 15

Contract of Adhesion

Back 15

An agreement that is drafted unilaterally by the dominant party and then presented on a take it or leave it basis to the weaker party, (who has no real opportunity to bargain about its terms)

Front 16

Assunmpsit

Back 16

an assumpsit is a common law action for a breach or such promise of a breach of contract.

Hint 16

action, such promise of

Front 17

Sua Sponte (latin)

Back 17

Sua sponte is the recognition without prompting or suggestion of fact of the court's own motions.

Hint 17

recognition of court's own motions

Front 18

Principles

Back 18

Principles are comprehensive and fundamental laws, doctrines, or assumptions

Front 19

Doctrine

Back 19

A doctrine is a rule or principle of law that has been developed by the decisions of the courts

Front 20

Stare Decisis (latin)

Back 20

Stare Decisis is the doctrine of precedent, under which a latter court is bound by the earlier decisions of a court of equal or senior rank in the same judicial hierarchy

Front 21

Neoclassical Economic Model

Back 21

Neoclassical economic model is the economic theory most closely associated with the bargain principle, the assumption of which people act in their own self-interest, rationally, and with access to perfect information.

Hint 21

own self interest, perfect information

Front 22

Equivocation

Back 22

Equivocation is the avoidance of clarity by the ambiguous words used in the contract, and “and/or” is a primary example of equivocation.

Front 23

Unjust Enrichment

Back 23

the retention of a benefit conferred by another, without offering compensation, in circumstances where compensation is reasonably expected.

(A claim for unjust enrichment requires that: the plaintiff show that he or she conferred a benefit on the defendant and that the defendant retained the benefit, the benefit was not was not a gift, and that the plaintiff was not acting officiously in conferring the benefit.)

Front 24

Intestate

Back 24

An intestate is a person who has died without a valid will

Front 25

Officious

Back 25

Officious is the interference in the affairs of others without the justification under the circumstances

Hint 25

circumstances

Front 26

Cohabitant

Back 26

A cohabitant is an individual who lives with another individual, residing in the same dwelling

Front 27

Subjective Theory

Back 27

Subjective Theory is an examination of words and conduct to determine whether there was a meeting of the minds

Hint 27

determine meeting of the minds

Front 28

Parol Evidence

Back 28

Parol Evidence is offering extrinsic information, testimony, or exhibits about the statements which influence the court's understandings about the agreement in order to get the court to take testimony about the legitimacy of the contract

Hint 28

take testimony about legitimacy

Front 29

Volunteer

Back 29

A volunteer is one who pays a debt, although not a party to, or interested in, the contract or transaction in which the debt arose

Front 30

Farmout

Back 30

A Contractual agreement with an owner who holds a working interest in an oil and gas lease to assign all or part of that interest to another party in exchange for fulfilling contractually specified conditions

Hint 30

interest, lease, assign interest

Front 31

Epitome

Back 31

An epitome is a typical or ideal example

Front 32

Silage

Back 32

Silage is fodder converted into succulent feed for livestock

Front 33

Rebuttable Presumption

Back 33

A Rebuttable Presumption is an argument that is not conclusive and may be overcome by opposing evidence

Front 34

Necessaries

Back 34

Necessaries are items that are indispensable to living

Front 35

Meretricious

Back 35

Meretricious is tawdry attractive

Front 36

Precedent

Back 36

Precedent is the making of a law by a court in recognizing and applying new rules while administering justice ------------ OR ----------- precedent is a law established by following earlier judicial decisions.