Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Instant Download Pdf
1. What is the three steps for calculating Expectation Damages? - Correct Answer:
Figure out:
What the position of the non-breaching party would have been if the promise had not been
breached;
The position of the non-breacher is presently in as a result of the breach;
How much he or she needs to get from the present position to the position he would have been
in if the contract had been performed
2. What is the basic rule for calculating expectation damages? - Correct Answer: Award
the non-breaching party enough money to put that party in the same position he or she
would have been if the contract had been performed.
3. What is a contract? - Correct Answer: A contract is a legally binding agreement
A promise or a set of promises that the law will enforce
The agreement creates rights and obligations that may be enforced in the courts
4. What does thwarted mean? - Correct Answer: Thwarted to prevent someone from
accomplishing something
, 5. Buyer and Seller contract for the sale of 1,000 barrels of oil (carefully specified as to
grade, etc) at a price of $50 a barrel, payment and delivery in 90 days.
On the payment/delivery date, oil is selling at $44 a barrel and Buyer refused to go through with
the transaction.
How much can Seller, injured party, recover?
A. $0
B. $50,000
C. $6,000 - Correct Answer: C. $6,000
6. What does FIRAC stand for? - Correct Answer: Facts, Issue, Rule, Analysis, Conclusion
7. What is included in the facts section of FIRAC? - Correct Answer: 1. Story-telling facts
2. Legally dispositive facts
3. Who is suing whom under what cause of action for what remedy
4. Clearly state the plaintiff and defendant
5. Procedural Posture
8. What is included in the rule section of FIRAC? - Correct Answer: Black-letter law
A reformulation of the issue
Legal test the court states or uses
Always look to include any exceptions to the rule
9. What is included in the issue section in FIRAC? - Correct Answer: An issue statement
describes the question the court is deciding in the opinion, including both dispositive facts and
key legal language.
A single sentence per issue
,10. What is included in the conclusion section in FIRAC? - Correct Answer: Also referred to
as the holding (who wins?), it is a reformulation of the issue with more specifics.
11. What is included in the analysis section in FIRAC? - Correct Answer: Arguments that both
the defendant and the plaintiff make.
How the court responded to each argument.
Why did the court rule the way it did?
12. Testator - Correct Answer: A testator is the person the will belongs to—the one who
writes and signs the will to say how they want their property handled after death.
13. Executor - Correct Answer: The person named in a will who is responsible for carrying
out the instructions in the will after the testator dies.
14. Demurrer - Correct Answer: A legal objection that says even if the facts in a complaint
are true, they don't amount to a legal case.
15. Forbearance - Correct Answer: The act of delaying or refraining from enforcing a legal
right
16. Consideration - Correct Answer: Refers to something of value that is exchanged between
parties to form a binding contract
17. Which of the following choices best explains the terms demurrer, testator, and executor as
used in Hamer v. Sidway? - Correct Answer: A. A demurrer is an objection that an
opponent's point is not timely made.
B. An executor is a person who makes a will.
C. A testator is appointed by an executor to test the terms of his or her will.
, D. An executor is appointed by a testator to carry out the terms of his or her will.
18. What are the two elements consideration consists of? - Correct Answer: Something of
legal value must be given and there must be a bargained-for exchange
19. Stare decisis - Correct Answer: It essentially means that courts should follow previous
rulings (precedents) in similar cases, providing consistency and predictability in the law
20. Is a promise to refrain from doing an illegal act enforceable? Yes or No? - Correct
Answer: No, it is not enforceable
Appellant - Correct Answer: The party who files the appeal — they're unhappy with the
lower court's decision and want it reviewed.
Appellee - Correct Answer: The party who won in the lower court and is now defending
that decision on appeal.
Assumpsit - Correct Answer: A legal action for enforcing a broken promise or agreement,
usually an oral or implied contract.
Instrument - Correct Answer: An instrument is any written document (like a contract, deed,
will, or promissory note) that has legal force.
According to legal experts in contract law, if I promise to give my daughter, Marley, a valuable
painting in exchange for her promise to give me $1, and she says nothing:
A. The $1 was enough to induce my promise as bargained for.
B. The "recital" of consideration or "nominal" consideration will make the promise enforceable.