BUL4310 COMPREHENSIVE EXAM 2026
COMPLETE Q&A TESTED QUESTIONS GRADED
A+
◉ contract. Answer: legally enforceable agreement; private
(consensual) law made by the parties themselves
◉ legal clout. Answer: ethical restraints of carrying out one's word
are not enough to outweigh a party's new perception that the
contract is against his/her economic self interest
◉ economic approach to contract law. Answer: 1) deference to
individual autonomy 2) maintaining or attaining a stable legal
system
◉ conventional law-and-economics claim. Answer: claims parties
ordinarily negotiate the most efficient contract and that any
governmental imposition of mandatory terms makes parties worse
off
◉ Three initial elements of a contract. Answer: offer, acceptance,
consideration
,◉ Counter offer. Answer: rejection of original offer and the making
of a new offer
◉ OACMCL "Oh, A Considerate Mutt, Cute and Legal". Answer: Offer-
Acceptance-Consideration-Mutuality-Capacity-Legality of Purpose
◉ Ex differing contract views- U.S. vs Japan. Answer: U.S. define all
rights and responsibilities of all parties and seeks to cover even
contigency ; Japanese write generalized contracts that the details
can be worked out as and when they are necessary
◉ oral agreements. Answer: enforceable by law but hard to prove in
a court; for practical reasons it is important to put important
contracts in writing
◉ Objective Theory of Contracts. Answer: party's intention to enter a
contract is judged by outward, objective facts as interpreted by a
reasonable person rather than by the party's own secret, subjective
intentions (*contract law looks for objective viewpoint)
◉ Ex differing contract views- U.S. vs France. Answer: U.S. courts
routinely adhere to objective theory of contracts (considers what
parties said/ did not what they thought) France give more weight to
subjective intentions (French civil law code prefers subjective
construction)
, ◉ If you sign a document, the assumption is.... Answer: that you have
read and understood it
◉ Ex- wording and sentence structure importance in a contract.
Answer: Aliant and Rogers; the "million dollar comma" Aliant
wanted out of contract before 5 year minimum and were able to do
so because of the placement of a comma; the CRTC later overturned
the decision after Rogers successfully argued the position of the
comma in the French version of the contract
◉ Boilerplate language: franchise contracts example. Answer:
introductory language not necessarily legally enforceable, but
parties should try to eliminate boilerplate language to not create
significant expectations on one parties' side. Ex franchise contracts-
franchisee's often use this language against franchisor if their
business is less successful than they hoped for
◉ no intention to be legally bound.... Answer: "social and domestic
agreements" in common law, even if technically elements of a
contract are present, some promises may not be enforced
◉ Civil Law Nations. Answer: In comparison with the U.S., many of
these nations compensate beyond monetary losses, for intangible
injuries to feelings, honor or moral principles. Examples include
Latin American nations, Russia, France.
COMPLETE Q&A TESTED QUESTIONS GRADED
A+
◉ contract. Answer: legally enforceable agreement; private
(consensual) law made by the parties themselves
◉ legal clout. Answer: ethical restraints of carrying out one's word
are not enough to outweigh a party's new perception that the
contract is against his/her economic self interest
◉ economic approach to contract law. Answer: 1) deference to
individual autonomy 2) maintaining or attaining a stable legal
system
◉ conventional law-and-economics claim. Answer: claims parties
ordinarily negotiate the most efficient contract and that any
governmental imposition of mandatory terms makes parties worse
off
◉ Three initial elements of a contract. Answer: offer, acceptance,
consideration
,◉ Counter offer. Answer: rejection of original offer and the making
of a new offer
◉ OACMCL "Oh, A Considerate Mutt, Cute and Legal". Answer: Offer-
Acceptance-Consideration-Mutuality-Capacity-Legality of Purpose
◉ Ex differing contract views- U.S. vs Japan. Answer: U.S. define all
rights and responsibilities of all parties and seeks to cover even
contigency ; Japanese write generalized contracts that the details
can be worked out as and when they are necessary
◉ oral agreements. Answer: enforceable by law but hard to prove in
a court; for practical reasons it is important to put important
contracts in writing
◉ Objective Theory of Contracts. Answer: party's intention to enter a
contract is judged by outward, objective facts as interpreted by a
reasonable person rather than by the party's own secret, subjective
intentions (*contract law looks for objective viewpoint)
◉ Ex differing contract views- U.S. vs France. Answer: U.S. courts
routinely adhere to objective theory of contracts (considers what
parties said/ did not what they thought) France give more weight to
subjective intentions (French civil law code prefers subjective
construction)
, ◉ If you sign a document, the assumption is.... Answer: that you have
read and understood it
◉ Ex- wording and sentence structure importance in a contract.
Answer: Aliant and Rogers; the "million dollar comma" Aliant
wanted out of contract before 5 year minimum and were able to do
so because of the placement of a comma; the CRTC later overturned
the decision after Rogers successfully argued the position of the
comma in the French version of the contract
◉ Boilerplate language: franchise contracts example. Answer:
introductory language not necessarily legally enforceable, but
parties should try to eliminate boilerplate language to not create
significant expectations on one parties' side. Ex franchise contracts-
franchisee's often use this language against franchisor if their
business is less successful than they hoped for
◉ no intention to be legally bound.... Answer: "social and domestic
agreements" in common law, even if technically elements of a
contract are present, some promises may not be enforced
◉ Civil Law Nations. Answer: In comparison with the U.S., many of
these nations compensate beyond monetary losses, for intangible
injuries to feelings, honor or moral principles. Examples include
Latin American nations, Russia, France.
