BUL 4421-Midterm FAU Gendler Questions
and Verified Answers 2025/2026
Terms in this set (251)
Questions Answers
CHAPTER 13: Introduction to CHAPTER 13: Introduction to
Contracts Contracts
1. Contractual Capacity2. Legal
Four Elements of a Contract: CLAC Object3. Agreement (offer,
acceptance)4. Consideration
-A promise or set of legally
enforceable promises for the breach
Contract of which the law gives a remedy or
the performance of which the law in
some way recognizes a duty.
(Offer & Acceptance)Offer by Oferror
Agreement to enter into a contract and
acceptance of terms by offeree.
Consideration i. The bargained-for exchange or
, what each party gets in exchange for
his or her promise under the
contract(The something for
something)
i. The legal ability to enter into a
Contractual capacity
binding agreement
subject matter of the contract.
Legal Object Cannot be illegal or against public
policy in order to be enforceable
Objective Theory of Contracts is the basis of contract law
Objective Theory of Contracts bases
Outward manifestations of intent
existence on
Objective Theory of Contracts bases how a reasonable person would
interpretation on interpret it.
, ________ of parties is not usually
relevant under objective theory of subjective intent
contracts
t or f: subjective intent may be
true
relevant under certain circumstances
BUL 4421 Final - FAU Gendler
a mutual misunderstanding b/t
parties exists and they did not come
subjective intent may be relevant if
to a true meetings of minds; no
contract exists
look at each party separately,
if there appears a a mutual interpret situation to determine
misunderstanding whether parties really reached an
agreement
in order to determine whether partied their objective words and behavior
intended to enter into a contract, and do not try to figure out what they
, courts look at may have secretly intending
when offeree is legally bound to
classification of contract determines
perform
A promise + a promise.-I'll pay you
$1000 for you to paint my car. -(My
Bilateral Contract =
promise = $1000)-(Your promise =
Paint my car) -Mutual exchange
Under bilateral contract, contract
as soon as promise exchanged
formed
-a promise + a requested action -
Offerror wants something *done, not
Unilateral Contract
a promise* for something to be done.
-ex; find dog and ill pay reward
once offerree begins performance;
under unilateral contract, contract
offeror must give reasonable amt of
formed
time to finish before voiding contract
Express Contract The terms of the contract are all
and Verified Answers 2025/2026
Terms in this set (251)
Questions Answers
CHAPTER 13: Introduction to CHAPTER 13: Introduction to
Contracts Contracts
1. Contractual Capacity2. Legal
Four Elements of a Contract: CLAC Object3. Agreement (offer,
acceptance)4. Consideration
-A promise or set of legally
enforceable promises for the breach
Contract of which the law gives a remedy or
the performance of which the law in
some way recognizes a duty.
(Offer & Acceptance)Offer by Oferror
Agreement to enter into a contract and
acceptance of terms by offeree.
Consideration i. The bargained-for exchange or
, what each party gets in exchange for
his or her promise under the
contract(The something for
something)
i. The legal ability to enter into a
Contractual capacity
binding agreement
subject matter of the contract.
Legal Object Cannot be illegal or against public
policy in order to be enforceable
Objective Theory of Contracts is the basis of contract law
Objective Theory of Contracts bases
Outward manifestations of intent
existence on
Objective Theory of Contracts bases how a reasonable person would
interpretation on interpret it.
, ________ of parties is not usually
relevant under objective theory of subjective intent
contracts
t or f: subjective intent may be
true
relevant under certain circumstances
BUL 4421 Final - FAU Gendler
a mutual misunderstanding b/t
parties exists and they did not come
subjective intent may be relevant if
to a true meetings of minds; no
contract exists
look at each party separately,
if there appears a a mutual interpret situation to determine
misunderstanding whether parties really reached an
agreement
in order to determine whether partied their objective words and behavior
intended to enter into a contract, and do not try to figure out what they
, courts look at may have secretly intending
when offeree is legally bound to
classification of contract determines
perform
A promise + a promise.-I'll pay you
$1000 for you to paint my car. -(My
Bilateral Contract =
promise = $1000)-(Your promise =
Paint my car) -Mutual exchange
Under bilateral contract, contract
as soon as promise exchanged
formed
-a promise + a requested action -
Offerror wants something *done, not
Unilateral Contract
a promise* for something to be done.
-ex; find dog and ill pay reward
once offerree begins performance;
under unilateral contract, contract
offeror must give reasonable amt of
formed
time to finish before voiding contract
Express Contract The terms of the contract are all
