Contracts

Front 1

If offerror sends the offer in email, the acceptance must be sent in as an email for the mail box rule to apply othewise

Back 1

if will be accepted on the day of the receipt.

Front 2

Dissaffimance of a______, based on _____, can only be effective within a reasonable time period after reaching the _______- _____

Back 2

Contract
Infancy
Majority
Age

Front 3

While an infant's contract is voidable, at the infant's option, equitable _________ in an amount of benefit conferred may be _________

Back 3

Liability
Imposed

Front 4

Under the UCC mailbox rule, it is only necessary to use ________ means to get mailbox treatment.

Back 4

Reasonable
Like if offer is in e-mail, Offeree can still accept by mail and be bound by the MB rule even if offer never reached the offerror

Front 5

Common law mail box rule requires -------- or fater.

Back 5

Fast

Front 6

Burning of a manufacturing plant will not excuse the performance if __________

Back 6

Widgets can be bought someplace else.

Front 7

B not providing specifications for manufacturing cannot be used as excuse for performance because_______

Back 7

if necessary cooperation is not provided it may discharge the other person's duty

Front 8

Neither ____________ nor _________ terms will will excuse the missing term of _________ in a common law contract

Back 8

ESTOPPEL
IMPLIED IN LAW
PRICE

Front 9

Statue of Frauds __________ applies to any contracts that are going to last _________ a year.

Back 9

more than

Front 10

The parol evidence rule requires that final agreement must be ______________.

Back 10

Integrated

Front 11

Latent ambiguity is where the contract appears _____ at the____ but subsequent facts show that a term could be _______ in more than one ways.

Back 11

complete
formation
interpreted

Front 12

Under UCC buyer ____________ has the right to reject non conforming goods

Back 12

Always

Front 13

The Seller selects goods knowing Buyer's intended use may constitute

Back 13

Implied Warranty of fitness for a particular purpose.

Front 14

Unless disclaimed all goods carry an _________-

Back 14

Implied warranty of merchantability

Front 15

When seller sends a non conforming goods it is a ________ and a __________ concurrently.

Back 15

Acceptance and a Breach

Front 16

Warranty against infringement that is to protect the buyer of the goods, from infringement rights of 3rd party

Back 16

does not apply to seller if the Buyer furnishes the specifications which result in infringement.

Front 17

SOF does not apply to goods ________ manufactured for a buyer that are not _______ for sale to another ___

Back 17

Specifically
Suitable

Front 18

If the LL surrenders their rights by re-entering and _________, tenant is usually _______ of all future ________

Back 18

Taking possession
Relieved
Obligations

Front 19

If shipping terms are not clearly defined by the parties for the sale of goods, how does the court decide the risk of loss?

Back 19

by looking at the party's intent

Front 20

Under UCC, a _________ may seek assurance only if ___________
for ability to perform, demand for assurance must be in ________.

Back 20

Seller

Reasonable Grounds

Writing

Front 21

Buyer has ___________ days to respond. If B does not respond in ____ days, S has a whole host of _____.

Back 21

30
30
Remedies

Front 22

Promissory Estoppel is only necessary if the contract ____under ________

Back 22

Fails
Common Law

Front 23

If there is consideration,, courts usually don't apply _________

Back 23

Promissory Estoppel

Front 24

Under UCC where there is an installment contract, buyer must accept non conforming installment if

Back 24

Seller gives adequate assurances of intent to cure seasonably, unless non conforming installment substantially impairs the value to the whole contract
(This is an exception to Perfect Tender Rule)

Front 25

When subject matter of the contract is destroyed, court will usually ________ the performance

Back 25

Excuse

Front 26

Non Breaching party could recover incidental and consequential damages including future profit if

Back 26

If they had the successful history in the business, and lost profits seem established with reasonable certainty. D must have been reasonably foresee the damages. Pizza in the mall example

Front 27

Upon Death of a party _______ agreements ____ survive

Back 27

Bilateral
Do

Front 28

A contractual right which may come into effect in the future,

Back 28

may not be assigned.

Front 29

Explain indemnity v. suretyship

Back 29

I don't know

Front 30

If the market price for rejected good is $7 and seller sells it 6.75 because Buyer refused the goods what can seller recover?

Back 30

UCC permits the seller to resell identified goods in a commercially reasonable manner and sue for the difference between the contract price and the resale price.

Front 31

Indemnity

Back 31

An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B).

Front 32

Surety

Back 32

A surety is a person (or company) who agrees to be responsible for the debt or obligation of another.

Front 33

Third Party Beneficiary is

Back 33

A party, not one of the original party to the contract, with a right to sue for the performance

Front 34

Main Purpose Doctrine

Back 34

Exception to the SOF
A promise to the answer for the debts of another, is not within the statue if the main purpose of the promisor