Mod 26 Wrong Answers Flashcards Preview

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Flashcards in Mod 26 Wrong Answers Deck (25):
0

An offer automatically terminates upon the occurrence of any of the following events 3

1 death or insanity of offeror or offeree

2 bankruptcy or insolvency of offeror or offeree

3 destruction of specific identified subject matter

1

If offer is accepted prior to offeror's death...

A valid contract is formed

2

It doesn't matter if offeree hears about offeror's death...

The offer would terminate

3

Unilateral offer exists when the offeror expects...

Acceptance of an offer by action of the oferee

4

A unilateral offer exists when the offeror expects acceptance of an offer by action of the offeree. A unilateral contract is then formed when the...

Offeree accepts the contract through performance of the offeror's required action

5

A minor may disaffirm a contract at any time...

During minority and within a reasonable time after reaching age
Of majority

6

A minor can only ratify a contract after...

Reaching the age of majority

7

Ratification of a contract prior to reaching majority age is...

Not effective

8

Failure to disaffirm within a reasonable time after reaching majority age...

Does act as ratification

9

Ratification

To make contract official

10

The parol evidence rule provides that any written agreement intended by parties to be final and complete contract may...

May not be contradicted by previous or contemporaneous
Evidence, written or oral

11

Previous written agreements to a final contract are...

Prohibited by the parol evidence rule

12

Exceptions to the parol evidence rule include:

Proof to...

Invalidate the contract between the parties

13

Exceptions to the parol evidence rule include:

To show terms...

Terms not inconsistent with writing that parties would not be
Expected to have included

14

Exceptions to the parol evidence rule include:

To explain the...

Intended meaning of an ambiguity

15

Exceptions to the parol evidence rule include:

Or to show a...

Condition precedent

16

The parol evidence rule does not apply to...

Subsequent transactions such as oral promises made after the
original agreement

17

The parol evidence rule does not bat the admission of evidence which is...

Presented to establish fraud

18

Discharge of a contract an come about through agreement. 2

1 accord and satisfaction

2 Novation

19

Accord and satisfaction involves an...define accord define satisfaction

Agreed substitute for performance under contract (accord)

And the actual performance of that substitute (satisfaction)

20

Novation

Agreement entered into by 3 parties whereby previous agreement
Is discharged by creation of new agreement (Novation)

21

Discharge of a contract an come about through release of the...

Contract or parties from performance

22

Another method of discharging a contract is by...

Performance of specified action becoming impossible

23

Another method of discharging a contract is by performance of a specified action becoming impossible, such as...2

1 destruction of subject matter or

2 death of party where personal service is necessary

24

Breach of contract discharges the...

Injured party

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