Mertz Business And Personal Law Exam 1

Front 1

A contract that is legally binding and fully enforceable is known as

Back 1

A valid contract

Front 2

A proposal made by one party that he or she is willing to enter a contract is known as

Back 2

An offer

Front 3

A contract that has no legal effect is known as

Back 3

Void

Front 4

Any agreement that is enforceable by law is known as

Back 4

a contract

Front 5

A contract that comes about by the acts of the parties is known as

Back 5

implied in fact

Front 6

An unqualified agreement by the offeree to be bound by the offer is known as

Back 6

acceptance

Front 7

An offer that has been changed by the offeree is known as

Back 7

counter offer

Front 8

A contract stated in oral or written words is known as

Back 8

express contract

Front 9

A contract in which both parties make promises is known as

Back 9

bilateral contract

Front 10

A contract in which one party makes a promise in exchange for an act is known as

Back 10

unilateral contract

Front 11

A person is no longer a minor when he/she reaches the age of

Back 11

majority

Front 12

Minors may avoid or ___ their contracts if they choose to do so.

Back 12

rescind

Front 13

Minors are held for the fair value of

Back 13

necessaries

Front 14

A person who looks after the affairs of an incompetent person is a(n)

Back 14

guardian

Front 15

Incompetent persons lack the ___ to contract

Back 15

capacity

Front 16

A person who has not reached the age of majority is a

Back 16

minor

Front 17

In legal terms minority is the same as

Back 17

infancy

Front 18

A person who is living in this country but owes allegiance to another country is called an

Back 18

alien

Front 19

Minors may be bound by their contracts if they approve or ___ those contracts

Back 19

ratify

Front 20

A person who has not yet reached his or her 18th birthday is still in the age of

Back 20

minority

Front 21

A doctrine under which no consideration is needed is called

Back 21

promissory estoppel

Front 22

The act of refraining from one's legal rights is known as

Back 22

forbearance

Front 23

A doctrine under which no consideration is needed is called

Back 23

promissory estoppel

Front 24

The act of refraining from one's legal rights is known as

Back 24

forbearance

Front 25

An exchange of benefits and detriments by the parties to an agreement is known as

Back 25

consideration

Front 26

An exchange of benefits and detriments by the parties to an agreement is known as

Back 26

consideration

Front 27

A ___ is something for which no consideration is received

Back 27

gift

Front 28

A ___ is something for which no consideration is received

Back 28

gift

Front 29

Contracts which appear at first glance to bind the parties but which actually do not are said to be

Back 29

Illusory

Front 30

Contracts which appear at first glance to bind the parties but which actually do not are said to be

Back 30

Illusory

Front 31

___ Involves giving up something that one has the legal right to keep

Back 31

Detriment

Front 32

___ Involves giving up something that one has the legal right to keep

Back 32

Detriment

Front 33

A____ contract is one in which the consideration is ridiculously low

Back 33

unconscionable

Front 34

A____ contract is one in which the consideration is ridiculously low

Back 34

unconscionable

Front 35

A(n)_____ is something that a party was not previously entitled to recieve

Back 35

benefit

Front 36

A(n)_____ is something that a party was not previously entitled to recieve

Back 36

benefit

Front 37

A free agreement is also called a(n) _____ agreement

Back 37

gratuitous

Front 38

Accord and ____ may solve the problem when people disagree on the amount owed in a contractual situation

Back 38

Satisfaction

Front 39

A free agreement is also called a(n) _____ agreement

Back 39

gratuitous

Front 40

Accord and ____ may solve the problem when people disagree on the amount owed in a contractual situation

Back 40

Satisfaction

Front 41

The taking back of an offer by the offeror is called

Back 41

revocation

Front 42

A contract that amounts to nothing and has no legal effect is

Back 42

void

Front 43

A contract that contains a promise by both parties is

Back 43

bilateral contract

Front 44

To be effective, an offer must be communicated to the

Back 44

offeree

Front 45

The wrongful failure to perform a promise set forth in a contract is

Back 45

breach of contract

Front 46

If a valid offer is met with a valid acceptance, the result is

Back 46

genuine agreement

Front 47

Oral statements made before signing a written contract are not admissible as evidence under the

Back 47

Parol Evidence Rule

Front 48

Minors may__ contracts

Back 48

discharge all contracts for nonessentials

Front 49

A request to have additional time to do what you have agreed to do under a contract is

Back 49

valid if accompanied by additional consideration

Front 50

Threats of a business nature that cause a person to enter into a contract w/o real consent would qualify as

Back 50

economic duress

Front 51

A mutual mistake is known as

Back 51

a bilateral mistake

Front 52

A deliberate deception to secure unfair of unlawful gain is

Back 52

fraud

Front 53

A fact that is important to one of the parties to a contract is

Back 53

a material fact

Front 54

Illegal agreements are

Back 54

void

Front 55

A substitution of one contract for another is

Back 55

accord and satisfaction

Front 56

A party's violation of an agreement before performance is required is called

Back 56

anticipatory breach

Front 57

Damages agreed upon by the parties when they first enter into a contract are called

Back 57

liquidated damages

Front 58

Martha is arrested for murdering her husband. which court has jurisdiction?

Back 58

the state supreme court b/c it's a felony even thought the prelims are at the district court

Front 59

Larry wants to sue Rob, but doesn't want to hire a lawyer (only sueing for 500$) In which court can Larry file suit?

Back 59

State district court, b/c that's where small claims are disputed and there are no lawyers- only for claims under $3,000

Front 60

Frank has been convicted of murder and sentenced to death penalty. He appeals his case to which court?

Back 60

State court of appeals

Front 61

What court has jurisdiction over copyright infringement?

Back 61

U.S Federal district court, b/c that is a federal offense

Front 62

Kelly is cited for her disruptive behavior on a city bus. Which court has jurisdiction?

Back 62

State district court b/c the case is a misdimeanor

Front 63

Sarah and Tom need to declare bankruptcy, in which court will they file?

Back 63

U.S Fed district court, filing for bankruptcy is a federal case

Front 64

Kelly and Kory need a divorce. Which court has ....

Back 64

State circuit court, family division.

Front 65

In a civil case the parties involved are the

Back 65

plaintiff vs. the defendant

Front 66

The relief/punishment in criminal cases is

Back 66

fine, imprisonment, death

Front 67

In a criminal case the jury must decide

Back 67

Guilty or not guilty

Front 68

In a civil trial the verdict must be decided by a

Back 68

majority vote

Front 69

What are the 5 sources of law

Back 69

consitution, common law, statutes, courts and administrative law

Front 70

A petition is a form of what?

Back 70

protected speech

Front 71

T/F an injured party may recover money damages for a tort?

Back 71

true

Front 72

T/F Truth is generally an absolute defense to defamation?

Back 72

true

Front 73

Generally torts arise from a violation of a ____ duty

Back 73

private

Front 74

Torts can be classified as
1.
2.
3.

Back 74

intentional, negligence, and strict liability

Front 75

To sucessfully defend a claim of false imprisonment, a merchant must show

Back 75

that the merchant acted based on reasonable suspicion.

Front 76

T/F It is more difficult for prominent people and/or public officials to prove defamation?

Back 76

True

Front 77

The defense to negligence that distributes damages according to fault is

Back 77

comparative negligence

Front 78

When a person engages in a recreational sport, they may sue only if..

Back 78

the defendant was reckless and caused injury

Front 79

The elements of negligence are...

Back 79

duty, breach of duty, causation and injury

Front 80

T/F Negligence can be proven w/o showing actual damage

Back 80

False

Front 81

T/F Employers are liable for the torts of their emplyess if the torts are committed within the scope of the employees' employment.

Back 81

True

Front 82

Strict liability ONLy applied to manufacturers of dangerous or defective products T/F?

Back 82

false

Front 83

A ultrahazarous activity is defined as

Back 83

An activity in which even reasonable care could not remove the risk of harm

Front 84

The class ordered pizza from Pizza Hut and all became ill from salmonella poisoning. They may....

Back 84

Sue for strict liability

Front 85

Punitive damages will be awarded if...

Back 85

the plaintiff shows the defendant acted willfully and maliciously

Front 86

T/F kissing someone who does not want to be kissed could be considered battery

Back 86

true