LEGL 2700 ROESSING EXAM 4 2026 STUDY
GUIDE COMPLETE LEGAL PRINCIPLES AND
PRACTICE QUESTIONS
◉ A legally enforceable agreement between two or more parties that
requires:
-Offer and acceptance
-Contractural capacity
-Genuine Assent
-Lawful Purpose
-Lawful Form. Answer: Contract
◉ The most successful attempt to have states adopt a uniform law
Purpose is to simplify, clarify, and modernize the laws governing
commercial transactions; Article 2 covers the sale of goods. Answer:
Uniform Commercial Code (UCC)
◉ Tangible (touchable), movable personal property. Answer: Goods
◉ Promise in exchange for a promise
Involves promisor and promisee
Usually made to a specific person
,Acceptance, then performance later
Binding even when promise hasn't been fulfilled yet
Ex) work order to paint house. Answer: Bilateral Contract
◉ Promise in exchange for an action
Made to the whole world
Acceptance and performance happen at the same time
Not binding until action has been done
Ex) lost dog poster and reward. Answer: Unilateral Contract
◉ A contract in which parties show their agreement in words.
Answer: Express Contracts
◉ A legally enforceable agreement inferred from the circumstances
and conduct of the parties
Ex) asking an accountant for professional advice implies a promise
to pay the going rate
Related case: Leyden v. American Accreditation Healthcare. Answer:
Implied-in-fact Contracts
◉ A quasi-contract; not a true contract
Legal fiction that the courts use to prevent unjust enrichment and
wrongdoing
,Courts permit the person who conferred a benefit to recover the
reasonable value of that benefit
Nonetheless, the elements of a true contract are not present.
Answer: Implied-in-law Contract
◉ An implied-in-law contract; not a true contract
Legal fiction that the courts use to prevent unjust enrichment and
wrongdoing
Courts permit the person who conferred a benefit to recover the
reasonable value of that benefit
Nonetheless, the elements of a true contract are not present.
Answer: Quasi-contract
◉ A contract that can be enforced in court. Answer: Enforceable
Contract
◉ A contract that cannot be enforced in court. Answer:
Unenforceable Contract
◉ A contract that contains all of the proper elements of a contract.
Answer: Valid Contract
◉ A contract that is empty, having no legal force; ineffectual,
unenforceable
, Ex) drug sale, killer-for-hire. Answer: Void Contract
◉ The parties to an illegal contract are equally at fault. Answer: In
Pari Delicto
◉ Capable of being declared a nullity, though otherwise valid
Party taken advantage of can avoid contract; other party cannot.
Answer: Voidable Contract
◉ A contract that is fully accomplished or performed, leaving
nothing unfulfilled. Answer: Executed Contract
◉ An agreement that is not completed
Remains this state until the performance required in a contract is
completed. Answer: Executory Contract
◉ A contractual communication that contains a specific promise and
a specific demand
Definite, present intent to be bound to a contract
Initiates the process of making a contract. Answer: Offer
◉ Saying something that sounds like an offer but no reasonable
person would take seriously
GUIDE COMPLETE LEGAL PRINCIPLES AND
PRACTICE QUESTIONS
◉ A legally enforceable agreement between two or more parties that
requires:
-Offer and acceptance
-Contractural capacity
-Genuine Assent
-Lawful Purpose
-Lawful Form. Answer: Contract
◉ The most successful attempt to have states adopt a uniform law
Purpose is to simplify, clarify, and modernize the laws governing
commercial transactions; Article 2 covers the sale of goods. Answer:
Uniform Commercial Code (UCC)
◉ Tangible (touchable), movable personal property. Answer: Goods
◉ Promise in exchange for a promise
Involves promisor and promisee
Usually made to a specific person
,Acceptance, then performance later
Binding even when promise hasn't been fulfilled yet
Ex) work order to paint house. Answer: Bilateral Contract
◉ Promise in exchange for an action
Made to the whole world
Acceptance and performance happen at the same time
Not binding until action has been done
Ex) lost dog poster and reward. Answer: Unilateral Contract
◉ A contract in which parties show their agreement in words.
Answer: Express Contracts
◉ A legally enforceable agreement inferred from the circumstances
and conduct of the parties
Ex) asking an accountant for professional advice implies a promise
to pay the going rate
Related case: Leyden v. American Accreditation Healthcare. Answer:
Implied-in-fact Contracts
◉ A quasi-contract; not a true contract
Legal fiction that the courts use to prevent unjust enrichment and
wrongdoing
,Courts permit the person who conferred a benefit to recover the
reasonable value of that benefit
Nonetheless, the elements of a true contract are not present.
Answer: Implied-in-law Contract
◉ An implied-in-law contract; not a true contract
Legal fiction that the courts use to prevent unjust enrichment and
wrongdoing
Courts permit the person who conferred a benefit to recover the
reasonable value of that benefit
Nonetheless, the elements of a true contract are not present.
Answer: Quasi-contract
◉ A contract that can be enforced in court. Answer: Enforceable
Contract
◉ A contract that cannot be enforced in court. Answer:
Unenforceable Contract
◉ A contract that contains all of the proper elements of a contract.
Answer: Valid Contract
◉ A contract that is empty, having no legal force; ineffectual,
unenforceable
, Ex) drug sale, killer-for-hire. Answer: Void Contract
◉ The parties to an illegal contract are equally at fault. Answer: In
Pari Delicto
◉ Capable of being declared a nullity, though otherwise valid
Party taken advantage of can avoid contract; other party cannot.
Answer: Voidable Contract
◉ A contract that is fully accomplished or performed, leaving
nothing unfulfilled. Answer: Executed Contract
◉ An agreement that is not completed
Remains this state until the performance required in a contract is
completed. Answer: Executory Contract
◉ A contractual communication that contains a specific promise and
a specific demand
Definite, present intent to be bound to a contract
Initiates the process of making a contract. Answer: Offer
◉ Saying something that sounds like an offer but no reasonable
person would take seriously
