Contracts (from outline) Flashcards
1
Q
An offer requires an intent to enter into a contract plus ______ (e.g., quantity, price, and identity of the parties) and it must be ____ to the offeree
A
specific terms
communicated
1
Q
The creation of a contract requires an offer, acceptance, consideration, and no _____
A
defenses to formation
2
Q
A requirements or output contract will (fail/ not fail) for lack of quantity.
The amount sold or requested must be in ___ and _____ to the stated estimate or prior comparable output
A
not fail
in good faith
not unreasonably disproportionate
3
Q
An offer creates the power of ____ in the offeree with a reasonable ______ to be bound
This involves a promise, undertaking, or _____ to enter into a kx with certainty and definiteness to the essentional temrs, all communciated to the offeree
A
acceptance
intent/ expectation
commitment
4
Q
Generally price quotes are
A
NOT offers
For it to be an offer, it must be in response to a specific inquiry by someone
5
Q
Except for contracts for REAL PROPERTY, the failure to state the____ does not prevent the formation of a kx if the parties intended to form a kx w/o the ____ being settled
A
PRICE
6
Q
An offer for the sale of land/ realty must identify the land + include the _____
A
price
7
Q
An employment kx must have a definitive ______ or else not enforceable
if the _____ is not stated, then default is that the kx is terminable by either party ___
A
time
duration
at will
8
Q
for services kx, the ____ must be included in the offer
A
nature of the work
9
Q
for services kx, if there is no price stated, courts will construe a ______ price UNELSS the requesting party ____ of the quoted price beforehand
A
reasonable
knew
10
Q
A kx for the sale of GOODS must include the ____ being offered
A
quantity
11
Q
Under the UCC, _____ is not required and courts will supplment it for reasonable price
A
price
12
Q
a rejection of an offer is effective when the offeror ____ the rejection
A
recieves
13
Q
Under common law, a counteroffer can function as a rejection of the original offer and a ___
A
new offer
14
Q
Questions are ____
A
not counteroffers - so this does NOT terminate the offer
15
Q
conditional acceptances are essentially
A
counteroffers
16
Q
Special limitations on revocation (Don’t MOP)
A
- Detrimental Reliance
- Option kx
- Performance of a unilateral kx
17
Q
AN option kx is created when the offeror promises to keep the offer open and the offeree pays ______to keep the offer open. The offeree is free to ____ the original offer within the option period, UNLESS the offeror has ________ on the offeree’s rejection
A
consideration
accept
detrimentally relied
18
Q
Under option kx, is there a special time restriction?
A
nope (unlike merchant firm offer)
19
Q
Under the UCC, when the offeror is a MERCHANT (someone who regaulrly sells in goods of certain kind / specialized knowledge of that business) and there is a _______ (not to exceed 3 months) then the offer CANNOT be revoked for up to that 3 months
Do you need consideration to make this offer “firm?”
Does the merchant need to be acting in his capacity as a merchant and not a hobby seller?
A
written and signed offer that PROMISES to keep that offer open for certain period of time
Nope
yup
20
Q
An offer CANNOT be revoked if there has been _____ by the offeree which is ______
A
detrimental reliance
reasonably foreseeable
21
Q
An offer for a true unilateral kx becomes _____ once performance has begun
A
irrevocablePar
22
Q
Partial performance of a unilateral kx makes that kx ______ and the offeror must give offeree reasonable time to perform
A
irrevocable
23
Q
A unilateral kx is only ACCEPTED once there has been ____
A
full performance of that kx
24
DEFENSES TO KX FORMATION
--
25
# Capacity Defenses
incapcity can be a defense when entering into a kx w/ a minor, mentally incompetent, or _____
| i
intoxicated person
However, they may be liabel for necessities
## Footnote
if the minor does NOT disaffirm the kx, and he continues once reaches age of majority, then it is implied that he AFFIRMED the kx so he must perform.
26
# Capacity Defenses
Duress is a defnese to kx formation when a party ________ to commit a wrongful act that would threaten the other party's finances, property, well being, or life
threatens
27
# Capacity Defenses
Undue influence is when there is unfair persuasion where a person in a position of ____ uses that posiion to convince another to enter into a kx that is not in the party's best interest
trust, confidence, or dominance
28
# Lack of kx formation defense
Mutual mistake occurs when both parties are mistaken as to a _____of fact that _______ the agreed upon terms, and neither party bears the risks, so the kx is _____
basic assumption
materially affects
voidable
29
A unilateral kx is when a party knew or had reason to know of hte other party's mistake, so the kx is
voidable
30
mutual misunderstanding is when there is NO kx if both parties have a different understanding of a ____that is open to at least 2 reasonable interpretations and ________ has any reason to know of the meaning attached by the other
material term
neither party
31
a kx is VOID If the subject matter is
illegal (i.e., selling drugs
32
key word for Duress is
improper threat
33
key word for undue influence is
abuse of trust in relationship to INDUCE another to enter into kx
34
key word for mutual mistake
basic assumption + material effect
voidable
35
misrepresentation can be _____ or ____
fradulent OR material
36
Whether or not a misrepresentation is fraudlent, the kx is VOIDABLE by the innocent party if that party_____on it and it was ____
justifiably relies
material
37
the nondisclosure of a material fact is NOT considered a material misrepresentaiton, unless the fact is needed to
correct a misrepresentation
38
a kx is unconscionable if there is (1) unfairness in the bargaining process, and (2) ____ of one party
oppression
Unfair price alone is not grounds for unconscionability
39
If a kx is against a licensing statute and the license is meant to protect the public, then the person who got the benefit ________ pay
does not have to pay
40
BUT if a kx is against a licensing statute that exists ONLY to ___ rather than to protect the public, then the person who got the benefit still has to pay in ___
raise revenue
restitution
41
covenants to not compete must be _____ and the services must be ____
reasonable
unique
42
STATUTE OF FRAUDS
----- get ready for this shit
MY LEGS
43
The SOF requires a writing signed by the party _____ that evidences a kx
to be charged (generally means the defendant)
44
Which kx fall into the SOF?
MY LEGS
Marriage
Kx that cannot be performned within a year
Kx for the sale of LAND
Promises made by an executor to pay a debt from his own estate
kx for the sale of goods over $500
surety kx
45
the statute of frauds requires one or more writings, signed by the party to be charged, and the writings must (1) reasonably identify the _____ of the kx, (2) indicate that a kx has been made, and (3) state with ____ the _____ of the kx
Subject matter
reasonable certainty
essential terms
46
EXCEPTIONS where no signed writing is required
1. Land - part performance (2/3 of these things happen: buyer takes possession of rthe proeprty, improves the land significnatly, or pays a substantial amount of the purchase price)
Sale of goods:
1. Merchant confirmatory memo exception
2. Specially manufactured goods - seller made subsntantial beginning in manufacturing them and not suitable to sell to others in seller OCOB
3. judicial admissions
4. part performance (pays for or accepts a part of a kx)
Surety (promise to pay debt of another) does not fall into SOF ONLY IF the MAIN PURPOSE of the surety promise is to serve a pecuniary interest of the person making the promise
Full performance of a kx that normally cannot be performed within one year will satisfy SOF
47
a kx to sell goods costing more than $500 MUST be in writing and contain the essential material terms + ___
quantity
48
Exceptions to the rule about kx for goods $500 + must be in writing:
SWAP
1. Specially manufactured goods
2. Merchant confirmatory memo (Written confirmation by merchant)
3. Surety
4. Admission (judicial)
5. Partial payment or delivery that has been made/ accepted
49
a merchant confirmatory memo is a written confirmation of an oral agreement between two merchants (one who deals regualrly in goods of that kind sold) which satisfies the SOF as long as the kx is (1) a signed writing, (2) specify the _____, (3) the buyer does not object to the writing within ___ days
quantity
10
50
When a kx right is assigned to a party gratuitosly (without recieving anything in exchange) the assignor can still revoke the assignment unless and until the assignee obtains _____ from the obligor
performance
51
contract rights are freely assignable except in very limited circumstances as where the assignment would _____the duty of the obligor
materially change
52
imrpacticality requires an _____, unreasonable, and unanticipated difficulty or expense.
extreme
53
here, there was no mutual mistake because the builder _____ the risk that the ground included granite, and he cannot avoid the kx if the construction proves to be more difficult than expected
assumed
*an element of mutual mistake is that the party cannot have ASSUMED the risk of the mistake
54
a kx may be rescinded on grounds of unilateral mistake if the mistake relates to a _______ of the contract that has a material effect on the exchange, and the party asserting the mistake should not bear the risk of the mistake +
(1) the non-mistaken party has reason to KNOW of the mistake, or (2) the effect of the mistake would make enforcement of the kx ______
fundamental assumption
unconscionable
55
for a novation to be proper, the obligee must expressly agree to accept the delegate's performance instead of the original delagor, AND the obligee must ______ the delegator from liability!!!!
simply consenting to the delegation is not enough to insulate the delegator from liability
RELEASE!!!!!!!
56
a delegation refers to duties (not ____) under a kx. A party who wishes to have another person perform his duties under a kx may delegate them and can do that w/o additional _____
rights
consideration
57
a novation requires both the builder's consent to the delegation to the man AND the builder's _____ of the expert from liability under the original kx
release
58
under common law, a modification of a kx is unenforceable when there is no new consideration
BUT when there is an unforeseen difficulty so severe that it rises to the level of ______ the consideration required for modification will be considered satisfied by the party's promise to complete their pre-existing contractual duty
impracticality
59
to meet the standards of "impracticability" the performing party needs to have encountered extreme and unreasonable difficulty or expenses that were NOT ____ at the time of formation
anticipated
60
if a party repudiates a kx, then tries to retract the repudiation.
If the buyer had changed his position in material _____ on the repudiation, this makes the retraction _____
reliance
ineffective
61
an effective retraction must be _____ before the injured party changes his position in material reliance on the repudiation, NOT just prior to the time for _____
communicated
performance
62
a repudiation may be retracted unless the injured party materially _____ position, (2)sues for _____, or (3) considers the repudiation _____ before retraction
(1) changes
(2) breach
(3) final
63
an agreement to which assent is induced by a misrepresentation is NOT ___. Rather, it is _____ which allows the party whose assenet was induced by the misrepresentation to avoid the agreement
void
voidable
64
A seller might be able to recover the difference between the contract price and the market price at the time of tender. But when the market formula for damages is inadequate, the seller may recover its lost profits ont he sale (plus _______) if the seller can demonstrate that it could have profitably made the extra sale ahd the kx gone forward (ie this is a LOST VOLUME SELLER)
incidental damages
65
When a store can obtain more units than it can sell at retail, this suggesets that the store is a "lost volume seller" and therefore can recover the profit it _______ on the kx + ______
expected to earn
incidental damages
66
Under the UCC, failuer to give notice of resale does not completely cut off teh seller's right to recover damages__
damages
67
A kx may be rescinded on grounds of supervening impossibility where a party's performance is made IMPOSSIBLE without his fault due to the occurance of an event, the non-occurance of which was a basic ____ on which the kx was made
assumption
68
When a kx has been rescinded on grounds of supervening impossibility, a party may obtain ____ of any benefit conferred by way of part performance of the kx
restitution
69
FORM 1
Johnny Merchant sends a little form that says "I want the newest AirPods for $500! And I want them by January 1st!"
FORM 2
Then Bob Merchant sends back his own cute little form which says "Great! I will send you the new AirPods for $500 by January 1st!! And also..... one last little thing Johnny.... if I breach my liability will be limited to $3."
is there a kx?
(D) There is an enforceable contract between Bob and Johnny whose terms do NOT include Bob's limited liability clause.
70
Tip #2: If you are selling some goods and leave out a time for payment, price, place of delivery, or time of shipment - GOOD NEWS. The UCC will just fill in a reasonable value for almost everything, even a _____!
reasonable price
71
MBE Trick #1: They will not include a quantity and will include no way to figure it out.
They always test this in a Statute of Frauds issue. Guys, none of us want to talk about the Statute of Frauds but it is some dumbass rule that says if the goods are over $500 we need a writing which states the essential terms of the contract.
And one of the essential terms is... you guessed it... __
QUANTITY
72
The problem will say this
"John and Bill had a contract for $501 to sell some guitars. They had a writing which said this
John and Bill have a contract for $501 to sell some guitars
Is this contract enforceable under the Statute of Frauds?
(A) - (D) = No, it lacks a definite quantity term and for a writing to satisfy the statute of frauds, it must contain a quantity term.
You will literally scantron in A through D, every single bubble.
73
MBE Trick #2: They will try to trick you into thinking there is no quantity but will give you an OUTPUT or REQUIREMENTS contract.
The question will look exactly like this:
Kim Karadashian made a contract to buy all the spandex that Spandex, Inc. could put out in a year for her SKIMS clothing brand.
Is this contract enforceable?
(A) Yes, under the UCC it is.
74
Tip #3: Real property contracts must identify (1) the parties, (2) state a description of the land, and (3) this is the only element that matters - you must state a ____ or it is OVER for you
price term
75
the court will NEVER gap fill a _____ into a real estate kx
reasonable price
76
Under the UCC, unelss the kx specifies otherwise, a buyer's obliation to PAY is conditioned upon the tender of goods by the
seller
77
tender of goods is effected when the seller makes CONFORMING GOODS _____ for the buyer's disposition and gives the buyer _____ sufficient to enable the buyer to take _____
available
notice
delivery
78
unless the kx specifies otherwise, under UCC, the place of delivery is the _____ place of business
AND
payment is due at the time and place WHERE the BUYER is to recieve the goods
SELLER
79
Because the fixtures company-apartment compelx kx is silent with respect to the place of delivery, tender by the figures company does NOT requrie them to deliver the goods to the apartment complex's place of business, but only to make the goods _____ at the _______ place of businss for the apartment compelx to take delivery
Further, because the kx does not specify a time of payment, payment will eb due at the time the _____
available
fixtures company's
buyer recieves the goods!
THUS unless the apartment company pays the fixtures company for the fixtures, the fixtures company will ahve NO DUTY to tender then to the apartment complex
80
A wrongfully discharged employee is expected to mitigate damages by making reasonable efforts to seek ______
but if no ______ is reasonable available and the businesswoman does NOTa take another job, the businesswoman is entitled to recover the promised salary for the remainder of the two years
comparable employment
81
a wrongfully discharged employee must do MORE than just "remain able to work." She must look for comparable employment to _____ her damages
Her recovery will be reduced by the compensation she earned or could have earned if she had made r_____ to secure comparable employment
reduce
reasonable efforts
82
The general rule is that employers cannot obtain _____ requiring an employee who has breached a personal services kx to work for the empolyer
specific performance
83
I said an offer to buy goods for prompt shipment invites acceptance by.... ACTUAL SHIPMENT.... OF THE GOODS..... OR A _____!
PROMISE TO SHIP THEM
84
85
How will we recognize a UCC 2-206 problem on the test? It will say two simple words.
PROMPT SHIPMENT
86
Goat sent a purchase order to Rainbow Brown on January 1st that said "ship me a modular synthesizer of the highest and most pure quality so I may make the music of the Gods."
Rainbow ships the modular synthesizer on January 2nd.
WAS A KX FORMED?
YES
87
Trick #2: What happens if you request prompt shipment and they ship you... the wrong shit.
But there is a notice of accomodation
pick the answer that says
the buyer can either accept or reject teh different [goods] and in either event recover damages, if any, for breach of kx
88
accomodation letter = buyer can
accept or reject he goods + recover damages if any for the BREACH of kx
89
You are allowed to have a condition in a contract which is "subject to your personal satisfaction."
However, the bar exam trick is that it has to actually be in ____
GOOD FAITH.
90
You can remember delegation by a simple mnemonic (ladies, shield your eyes): Double D's.
Duties are DELEGATED.
91
You can remember assignments by a simple mnemonic (I'm not political): Ban AR's.
Assignment deals with Rights.
92
Assignment is about giving a third party the BENEFITS or RIGHTS of your contract.
Delegation is about making a third party _____- you are giving them OBLIGATIONS and DUTIES lmao
DO shit for your contract
93
DUTIES are ____
RIGHTS are ____
Delegated
assigned
94
If Goat and Sheep have a CONTRACT where Goat has to pay sheep, sheep can assign the rights of payment to______.
Fantastic Mr. Fox
95
Let's say Goat and Sheep have a contract where Goat will paint sheep's house. Goat can DELEGATE the responsibility to perform those services to FOX. Fox will now paint the house, but Goat will STILL _____ if Fox fucks it up.
remain liable
96
Step 2: The person RECEIVING the benefit (the assignee) agrees to have it assigned to them.
PTA - Parent Teachers Association. We can EASILY remember this. We are all mature, we all have kids, we all attend these Parent Teachers Meetings. Remember that, I just thought of it.
No consideration is required, and they can be ORAL or in writing. Simple.
Easy. Present Transfer. Agreement from receiving party.
97
Scenario #1: You put some weak ass prohibition language in the contract trying to stop the assignment. You breach if you assign, but assignee still gets PAID.
If you say something in the contract like "hey, this contract can't be assigned."
Sorry guys, this shit is still able to get assigned. Of course, it will still be a BREACH if you assign it, but the person GETTING the assignment is still able to ____
enforce their rights
98
Scenario #2: You put some strong ass VOID language into the contract. Nobody gets paid AND you breach.
This contract is void if it is assigned" OR
"If this contract is assigned, it has ABSOLUTELY NO EFFECT!!!"
Now this language shows that the parties intended the contract to have NO EFFECT if it got assigned, and therefore, if you STILL assign it and try to be sneaky... not only will you BREACH, but the person you are trying to assign it to GETS ____
nothing
99
But here's the big trick: When you delegate, YOU remain liable. So if Goat and Cow have a contract, and Goat is being a lazy fuck and assigns it to rabbit, Cow can sue BOTH ____
goat and rabbit
100
You can delegate duties except in a few scenarios:
The contract PROHIBITS delegations or says "no delegations"... then you can't do it. Guys you know this, it's the same for assignments. Stop playing with me.
RED ALERT: THIS IS THE ONLY EXCEPTION THE MBE TESTS. Basically, you can't delegate a duty if it involves "_____" or someone's "special reputation." Obviously you can't just delegate me to pain the sistine chapel, it would look like this.
persona skill
101
"It is hornbook law that a no assignments clause will prohibit _____ of duties. The proposition is too elementary
delegation
102
WHEN YOU GET THE ASSIGNMENT = THAT IS THE DEAL YOU GET. NOT THE _____ DEAL. DON'T GET GREEDY.
earlier
There was this one problem where a guy had to pay his friend Jimmy on the 1st of every month.
Then the guy was always late so Jimmy was like "fuck it you can pay me on the 5th instead."
Then Jimmy assigned it to his Dad and his dad was like "okay lol I get payment on the first."
SORRY JIMMY'S DAD - YOU GET PAYMENT ON THE 5TH OF THE MONTH.
103
Trick #4: They will always try to test you if you know that you can sue both the DELEGATOR and the DELEGATEE.
Yes, you can sue BOTH me and CHRIS. Unless we all agree to RELEASE me through what is called a ____.... you can sue EVERYONE. JUST REMEMBER THIS.
novation
104
Trick #5: Let's be real, on the MBE they will test you to see if you know that you can't delegate some highly specific ____ project like a novel to some random Wattpad harry styles fan-fiction writing 13 year old.
You obviously can't delegate some extremely personal shit which requires a lot of skill to some random you met on Craigslist.
artistic
105
Well, we have four basic ways for a third party beneficiary to get their rights to VEST.
Let's say Johnny calls up Aunt Sally and says "Thank you SO SO much for the bike! I am so excited to ride my new carbon fiber fixed gear bike to the hipster coffee shop and get a Golden Girls tattoo. I love you Aunt Sally!" This is _____, and it will allow your third party rights in the bicycle to VEST because you had awareness of it and acknowledged it.
manifesting assent
106
Or maybe Johnny learns about the new bike Aunt Sally is going to get him and he throws away his old bike. This is called _____and will ALSO allow his rights to vest. (Hint: this is the most common tested way that third-party beneficiaries rights vest on the MBE).
detrimental reliance
107
If there is an _____ term in the contract between Johnny's mom and Aunt Sally that Johnny's rights in the bicycle will vest. (We normally see this with life insurance policies naming someone)
express
108
If the intended beneficiary ____ to get their benefit of the contract.
sues
109
Keep in mind that all these exceptions require little Johnny to have ____ of the bicycle deal.
Your rights will NEVER vest if you don't know the deal even exists.
knowledge
110
Before vesting happens in ANY of these four scenarios, Aunt Sally and Johnny's mom can _____ or ___ the contract in ANY WAY they want, without Johnny's knowledge or input!
modify or rescind
111
Scenario #1: You list your daughter as the beneficiary of your life insurance policy = BOOM. That is an INTENDED BENEFICIARY. They were NAMED, they have ___.
rights
112
Scenario #2: You are building a MASSIVE pickle ball court on your yard and have a contract with the Pickleball court builders.
Then you decide to NOT build it. Can the old people in the neighborhood sue you and enforce their rights as beneficiaries?
NO. They are _____They are NOT named in the contract, they have NO CONTRACTUAL RIGHTS, and they CANNOT ENFORCE THE CONTRACT.
INCIDENTAL BENEFICIARIES.
113
Example #1: RELIANCE. Remember: The MBE is obsessed with this scenario: where a third party beneficiary ____ on two other peoples' contract and then their rights become VESTED..
relies
114
YES. You were an INTENDED BENEFICIARY who ______, and therefore your rights ____ and their ability to MODIFY or CHANGE the agreement ended.
materially relied
vested
115
t's true, the bank is an intended beneficiary of the contract.
But they don't JUST get the good parts of the ability to enforce the contract.
They also have to deal with ____ people have against them (like the $2 deduction for fucking shit up with the grass).
The bank steps into the shoes of SNOOGOATS, and they don't just get the money, they get the DRAMA too. They get DEFENSES which can be asserted against them, just like they could have been asserted against me.
defenses
116
INTENDED BENEFICIARIES =
INCIDENTAL = RANDOM FREELOADERS TRYING TO CASH OUT WHO NOBODY MENTIONED IN THE MBE PROBLEM
ACTUALLY INTENDED AND MENTIONED IN THE PROBLEM
117
FOUR WAYS TO VEST
KNOWLEDGE + ASSENT
KNOWLEDGE + RELIANCE
KNOWLEDGE + EXPRESS TERM
KNOWLEDGE + SUING PEOPLE ABOUT IT
118
whether a beneficiary is "intended" is determined by examining several factors, including wheether (1) the beneficiary could have reasonably relied on the fact that a purpose of the kx was to confer a right to him,
(2) performance is supposed to run directly from a contracting party to a third party
(3) if part of the overall objective of the parties to the kx was to ____
benefit the third party
119
NO FACTS indicate that the patient could have reasonably relied on any promise under the kx to confer a right to her, or that hte kx _______ to run directly to her, or that the overall obejctive was specifically yo benefit eh patient
intended performance
120
it (is/is not) required that an intended third party beneficiary be ___named in the kx
explicitly
121
implied contracts are formed by manifestations of assent other than oral or written language (i.e., by ____)
conduct
122
installment kx = key phrase is
substantial impairment
123
Trick #1: You didn't even try to make the condition happen you lazy fuck.
The MBE scenario is this: u/Okay_Service_6107 enters into a contract with Goat to buy an Island for $145,136,192. The contract contains the following clause "This contract is conditional on Goat securing bank financing at an interest rate of 7% or below."
Goat doesn't even make a financing application or even try to get a loan because he was Live Action Roleplaying and high on an edible when he contacted the realtor the night before.
u/Okay_Service_6107 now sues Goat. What happens?
Normally, a performance subject to an EXPRESS CONDITION like this will not become due unless the condition occurs or its nonoccurrence is excused.
However, the duty of good faith IMPOSES a duty on Goat to actually TRY to get financing. He can't just NOT TRY AT ALL TO FULFILL THE CONDITION OF FINANCING lol.
So even though the condition did not happen, Goat is not excused. He has to pay up for this island. And I will.
124
Trick #2: Somebody blocked you from fulfilling the condition.
The MBE scenario is this my young friends:
The police department says "hey look, if you help us arrest a fugitive, and if the arrest leads to a conviction, you're getting $1 million dollars."
OKAY GOATS SO WE GOT TWO CONDITIONS TO GET THAT PAPER
CONDITION 1: WE ARREST THIS GUY
CONDITION 2: HE IS CONVICTED
So we catch him and arrest him.
CONDITION 1: SATISFIED.
Then the cops start talking to him in the interrogation room
We can't. We got obstructed, blocked by the police. They GAVE us the rules, then they prevented us from WINNING the game.
Does this excuse nonoccurrence of the condition? Do they not have to pay us?
NO. The doctrine of prevention states that a party must REFRAIN from doing some shit that would BLOCK the person getting paid from fulfilling a condition.
125
Scenario #3: The condition was meant to benefit the other party, but you tried to be out here crying like it was for you.
The rule is this: If a condition is only there to benefit ONE party, the OTHER party can't use its nonoccurrence as an _____not to perform. She would still have to pay me the money even though I didn't get the killer 0% APR financing rate. She couldn't use my failure to satisfy a condition that legally protected me as a means to back out because the price went up and she wanted to keep the land.
excuse
126
Wrong. If a condition is waived (aka the person paying became AWARE and IGNORED IT), it releases the other party from the obligation of that specific term. If you waive = ___
you pay
127
