BLAW 3391 TTU Final Questions
With Verified Answers
Requirements of a valid contract
1. Agreement 2. Consideration 3. Contractual Capacity 4. Legality
Bilateral Contract
2 Promises (promise for a promise)
Unilateral Contract
Can only accept if the job happens
Requirements for implied contracts
1. The plaintiff furnished some service or property 2. The plaintiff expected to be paid for
that service or property, and the defendant knew or expected 3. The defendant had a
chance to reject the services or property and did not
Can you have expressed/implied unilateral contract??
yes
Executed contract
a contract that has been fully performed by both parties (in the past)
Executory contract
a contract that has not yet been fully performed (happening)
What makes a contract valid?
four elements earlier mentioned
Voidable Contract
A contract that may be legally avoided at the option of one or both of the parties
Unenforceable contract
A valid contract rendered unenforceable by some statute or law (can't be broken unless
defense)
Void Contract
, A contract having no legal force or binding effect (illegal)
Quasi Contract
an obligation or contract imposed by law (court) in the abscense of an agreement, to
prevent unjust enrichment of one party (someones wronged and needs $, equitable
rather than legal contracts)
The Plain Meaning Rule
The words and their plain meaning-used when a contract's language is unclear
Ambiguity
When a contract's language is not clear
What makes a contract ambiguous?
1. When the intent of the parties cannot be determined for its language 2. When it lacks
a provision on a disputed issue 3. When a term is susceptible to more than one
interpretation (a ton, a lot) 4. When there is uncertainty about a provision
For ambiguity we use __________.
Extrinsic evidence
Extrinsic Evidence
any evidence not contained in the contract itself (testimony of the parties, additional
agreements or communications, information relevant to determining parties intent)
Agreement
A mutual understanding or meeting of the minds between two or more individuals
regarding the terms of a contract
Agreement requires what?
offer and acceptance also the parties must agree on the terms of the contract
Offer
a promise or commitment to perform or refrain from performing some specified act in
the future
requirements of the offer
1. must be a serious, objective intention by the offeror (not a joke) 2. terms of the offer
must be reasonably certain, or definite , so that parties and the court can ascertain the
terms of the contract 3. the offer must be communicated to the offeree
Intent is determined by?
With Verified Answers
Requirements of a valid contract
1. Agreement 2. Consideration 3. Contractual Capacity 4. Legality
Bilateral Contract
2 Promises (promise for a promise)
Unilateral Contract
Can only accept if the job happens
Requirements for implied contracts
1. The plaintiff furnished some service or property 2. The plaintiff expected to be paid for
that service or property, and the defendant knew or expected 3. The defendant had a
chance to reject the services or property and did not
Can you have expressed/implied unilateral contract??
yes
Executed contract
a contract that has been fully performed by both parties (in the past)
Executory contract
a contract that has not yet been fully performed (happening)
What makes a contract valid?
four elements earlier mentioned
Voidable Contract
A contract that may be legally avoided at the option of one or both of the parties
Unenforceable contract
A valid contract rendered unenforceable by some statute or law (can't be broken unless
defense)
Void Contract
, A contract having no legal force or binding effect (illegal)
Quasi Contract
an obligation or contract imposed by law (court) in the abscense of an agreement, to
prevent unjust enrichment of one party (someones wronged and needs $, equitable
rather than legal contracts)
The Plain Meaning Rule
The words and their plain meaning-used when a contract's language is unclear
Ambiguity
When a contract's language is not clear
What makes a contract ambiguous?
1. When the intent of the parties cannot be determined for its language 2. When it lacks
a provision on a disputed issue 3. When a term is susceptible to more than one
interpretation (a ton, a lot) 4. When there is uncertainty about a provision
For ambiguity we use __________.
Extrinsic evidence
Extrinsic Evidence
any evidence not contained in the contract itself (testimony of the parties, additional
agreements or communications, information relevant to determining parties intent)
Agreement
A mutual understanding or meeting of the minds between two or more individuals
regarding the terms of a contract
Agreement requires what?
offer and acceptance also the parties must agree on the terms of the contract
Offer
a promise or commitment to perform or refrain from performing some specified act in
the future
requirements of the offer
1. must be a serious, objective intention by the offeror (not a joke) 2. terms of the offer
must be reasonably certain, or definite , so that parties and the court can ascertain the
terms of the contract 3. the offer must be communicated to the offeree
Intent is determined by?
