LGS 200 Abigail Hammonds exam 2
PRACTICE
What is the difference between a material breach and an immaterial breach? - ✔️✔️A
material breach results in damages to the non-breaching party, while an immaterial
breach is minor.
Which of the following is an equitable remedy for breach of contract? - ✔️✔️an order
for specific performance
What is the difference between legal remedies and equitable remedies for breach of
contract? - ✔️✔️Legal remedies are monetary while equitable remedies are non-
monetary.
What is the principle that is applied to determine how much compensation a party
receives in a quasi-contract settlement? - ✔️✔️quantum meruit
Which act or statement is a valid offer? - ✔️✔️A detailed advertisement
What type of acceptance requires an affirmative action for the offeree to accept that
offer? - ✔️✔️Unilateral contracts
Lilly hired Harris Lawn Service to cut her grass one summer, and paid through
automatic charges to her credit card. After taking three months off for winter weather,
Harris staff cut Lilly's grass for four weeks in a row before charging the fees on Lilly's
credit card. Lilly protested the charges, stating she did not hire the company to cut grass
for the second summer. Harris sues Lilly. What law applies? Choose 2 answer choices.
- ✔️✔️1. Lilly's silence is acceptance because of the parties' past dealings.
2. Lilly's silence is acceptance because the offeree accepted the benefit offered.
Which situation would be considered sufficient consideration for a contract to exist? -
✔️✔️Pam agrees to pay Derek $500 if he does not sit next to her in class anymore.
(Forbearance)
What are the elements of consideration? Choose 2 answer choices. - ✔️✔️1.
something of value from each party
2. an exchange to which the parties agree
Which type of lack of capacity is easiest to prove? - ✔️✔️Minor status
, Samuel has mental competency issues. Samuel entered into a contract with Beth, but
now Samuel is petitioning the court to terminate the contract. What options does the
court have in ruling in the case? Choose 2 answer choices. - ✔️✔️1. The contract is
voidable if Samuel was incompetent at the time the contract was formed.
2. The contract is void if Samuel has been previously determined to be mentally
incompetent.
What is an exception to the statute of frauds? - ✔️✔️Promissory Estoppel
Promissory Estoppel - ✔️✔️Promissory estoppel is an exception to the statute of
frauds writing requirement. If one party makes an oral promise that should reasonably
cause the other party to rely on it, and that party does rely on the promise, the court
may enforce that agreement despite the lack of the required writing.
What is the result if parties agree to a contract orally, but it is a contract that must be in
writing under the statute of frauds? - ✔️✔️1.The parties can complete the contract.
2. The contract is voidable.
What is the term for the legal ability to enter into a binding contract? - ✔️✔️contractual
capacity
What factors may cause a person to lack contractual capacity? - ✔️✔️1. severe
intoxication
2. mental incompetence
3. being under the age of majority (usually 18)
What elements are required for an offer to be effective under the common law? -
✔️✔️1. The terms of the offer must be reasonably definite so that all parties
understand them.
2. The offer must be communicated to the offeree.
3. The offeror must intend to be bound by the offer.
What factors are used to judge if consideration is adequate to ensure a fair bargain? -
✔️✔️1. Promises exchanged may not be a preexisting duty.
2. Promises must be made with voluntary consent.
How may a revocable offer effectively be revoked? - ✔️✔️1. The offeror may take an
action that contradicts the offer and make that known to the offeree.
2. The offeror may withdraw the offer with a clear expression.
A contract for a purpose that causes the parties to violate a law is: - ✔️✔️illegal and
void.
PRACTICE
What is the difference between a material breach and an immaterial breach? - ✔️✔️A
material breach results in damages to the non-breaching party, while an immaterial
breach is minor.
Which of the following is an equitable remedy for breach of contract? - ✔️✔️an order
for specific performance
What is the difference between legal remedies and equitable remedies for breach of
contract? - ✔️✔️Legal remedies are monetary while equitable remedies are non-
monetary.
What is the principle that is applied to determine how much compensation a party
receives in a quasi-contract settlement? - ✔️✔️quantum meruit
Which act or statement is a valid offer? - ✔️✔️A detailed advertisement
What type of acceptance requires an affirmative action for the offeree to accept that
offer? - ✔️✔️Unilateral contracts
Lilly hired Harris Lawn Service to cut her grass one summer, and paid through
automatic charges to her credit card. After taking three months off for winter weather,
Harris staff cut Lilly's grass for four weeks in a row before charging the fees on Lilly's
credit card. Lilly protested the charges, stating she did not hire the company to cut grass
for the second summer. Harris sues Lilly. What law applies? Choose 2 answer choices.
- ✔️✔️1. Lilly's silence is acceptance because of the parties' past dealings.
2. Lilly's silence is acceptance because the offeree accepted the benefit offered.
Which situation would be considered sufficient consideration for a contract to exist? -
✔️✔️Pam agrees to pay Derek $500 if he does not sit next to her in class anymore.
(Forbearance)
What are the elements of consideration? Choose 2 answer choices. - ✔️✔️1.
something of value from each party
2. an exchange to which the parties agree
Which type of lack of capacity is easiest to prove? - ✔️✔️Minor status
, Samuel has mental competency issues. Samuel entered into a contract with Beth, but
now Samuel is petitioning the court to terminate the contract. What options does the
court have in ruling in the case? Choose 2 answer choices. - ✔️✔️1. The contract is
voidable if Samuel was incompetent at the time the contract was formed.
2. The contract is void if Samuel has been previously determined to be mentally
incompetent.
What is an exception to the statute of frauds? - ✔️✔️Promissory Estoppel
Promissory Estoppel - ✔️✔️Promissory estoppel is an exception to the statute of
frauds writing requirement. If one party makes an oral promise that should reasonably
cause the other party to rely on it, and that party does rely on the promise, the court
may enforce that agreement despite the lack of the required writing.
What is the result if parties agree to a contract orally, but it is a contract that must be in
writing under the statute of frauds? - ✔️✔️1.The parties can complete the contract.
2. The contract is voidable.
What is the term for the legal ability to enter into a binding contract? - ✔️✔️contractual
capacity
What factors may cause a person to lack contractual capacity? - ✔️✔️1. severe
intoxication
2. mental incompetence
3. being under the age of majority (usually 18)
What elements are required for an offer to be effective under the common law? -
✔️✔️1. The terms of the offer must be reasonably definite so that all parties
understand them.
2. The offer must be communicated to the offeree.
3. The offeror must intend to be bound by the offer.
What factors are used to judge if consideration is adequate to ensure a fair bargain? -
✔️✔️1. Promises exchanged may not be a preexisting duty.
2. Promises must be made with voluntary consent.
How may a revocable offer effectively be revoked? - ✔️✔️1. The offeror may take an
action that contradicts the offer and make that known to the offeree.
2. The offeror may withdraw the offer with a clear expression.
A contract for a purpose that causes the parties to violate a law is: - ✔️✔️illegal and
void.
