Exam 10: Contracts

An uncle, in writing, promised his nephew $5,000 if his nephew would refrain from drinking, using tobacco, swearing, and playing cards or billiards for money until the age of twenty-one, all of which was otherwise legal for the nephew to do at the time.The nephew performed as requested.Which of the following statements is true?

At common law, an acceptance must be a mirror image of the offer.

The agreement to accept something different from what was due under an original contract is called

A "mirror image" means that

Jesse writes to Nadine, "I'll pay you $50 if you clean my house by Saturday." On Friday, Nadine cleaned Jesse's house as requested.What kind of contract has been formed?

Delaney is a locally famous cabinet maker with a contract to build cabinets for the new Designer Fashions headquarters.However, Delaney injures his wrist and cannot work.Designer Fashions hears about the injury and realizes that Delaney will not be able to finish the contract in the scheduled time.At common law, Designer Fashions can

The common law writ of assumpsit was the predecessor of the modern action.

Ruby sells her car to Bob.She fails to tell him that the car has been previously wrecked, even though he had asked if it had ever been involved in a collision.If Bob later learns that the car was almost totaled six months prior to the sale and wants to rescind the contract, what would be his best defense to the enforceability of the contract?

When determining if the parties to a contract agree, the intention of the parties is

In which of the following situations would the promise be enforceable as a contractual obligation?

Two friends, John and Steve, went into Sound City to look at stereos.An ad in the morning paper had interested John in a particular model that was on sale for $650 for that day only.John decided to buy it, but realized he had forgotten his wallet and credit cards.John asked if the store would extend him credit.The manager hesitated, but then Steve pulled the manager aside and said, "It's all right.I could cover it." Because Steve buys nearly $600 worth of merchandise a month, the manager agreed.The manager then had John sign and address a delivery slip that says simply, "August 1, 1996-1 model A-942.Deliver Monday.Purchased by John Smith, 2 Central St." Does the manager have an enforceable contract with John? Explain.Can the manager collect from Steve if John does not pay? Explain.

The boosters of the athletic program at a small college were trying to get uniforms and equipment for its football team.By a stroke of luck, a wealthy alumnus of the school happened to have forty football helmets.The boosters wrote and asked him to donate the helmets.The alumnus wrote back a very short letter in which he stated only that he would donate the helmets.Unfortunately, during the first day of practice in the hot sun, the helmets melted and became unusable.The boosters are demanding that the alumnus replace the helmets because he has breached an express warranty and the implied warranty of merchantability.The alumnus contends that there was no contract because there was no consideration, and thus he is liable for nothing.Evaluate each of the claims individually and state which party should prevail.

A contracts with B to drive the get away car after A robs a bank.A successfully robs the bank, but B is late with the car and A is apprehended by the police.A sues B.B can successfully argue that

Johnson has a contract to supply Peters with widgets over a three-year period.Halfway through the contract, Johnson decides to change the focus of his company and he will no longer sell widgets.He wants to transfer his contract for widgets to Bennett.Can he do that? If so, how? If not, why not?

Contract law rapidly developed as courts responded to parties' expectation that promises would be enforced.

Consideration usually consists of an act or a promise to perform an act.

A transfer of rights is called a(n)

The Uniform Commercial Code covers both personal and intellectual property.

An uncle, in writing, promised his nephew $5,000 if his nephew would refrain from drinking, using tobacco, swearing, and playing cards or billiards for money until the age of twenty-one, all of which was otherwise legal for the nephew to do at the time.Would this agreement need to be in writing to satisfy the statute of frauds and be enforced?

An injured party who has established a breach of contract is only entitled to turn to a court for equitable relief such as specific equitable, rescission, restitution, and injunctions.