Exam 11: Nature and Terminology

Rough Water LLC and Schafer enter into a contract for the delivery of a certain number of river rafts. Until the rafts are delivered and paid for, the parties have

Quasi contracts are imposed on parties in the interest of fairness and justice.

Sy enters into a contract with Truck Company to work as a driver. If a dispute arises over the deal, under the plain meaning rule, the court cannot consider any evidence not contained in the document if

An agreement to form a contract cannot modify the terms of a previous contract.

If a voidable contract is ratified, both parties are released from it.

In interpreting a contract, a court will give greater weight to the course of performance between the parties than to the express terms.

A declaration that binds the person who makes it to do a certain act is a promise.

A payment of funds or a delivery of goods must take place for a bilateral contract to be formed.

Contract law does not distinguish between moral and legal obligations.

If one party to a contract has fully performed but the other has not, the contract is executory.

Saul claims that his agreement with Teri for saxophone lessons is voidable. If this contract is avoided, both parties

Without a legal framework of reasonably assured expectations within which to make plans, businesspersons would most reliably be able to count only on others'

Anyone can avoid a contractual obligation by claiming that he or she did not read the contract.

Ocean Inc., a seafood distributor, agrees to buy from Paul, a commercial fisher, any "overstock" of fish that he catches in excess of the legal limit. This agreement is most likely

Movers LLC promises to deliver a certain couch to Nora, who promises to pay for the service. If Movers does not perform, it may be required to

Yuri agrees to zed.com's terms of service and downloads the site's app. Yuri then reverse-engineers the app to create a competing product. This is

Macy offers to sell his fitness watch for $50 to Nona. Nona promises to pay Macy the price. Later, they exchange the watch for the funds. A contract was created when

Red offers to pay Sari to deliver certain documents within thirty minutes. Sari can accept the offer only by completing the task within the deadline. If she does, Red and Sari will have

Juno tells Liu she will give him her old car if he babysits her son Marc weekday evenings for six months. Liu agrees. Juno and Lee have formed

Alyssa hires Bret to mow Alyssa's lawn every Friday. Although they do not discuss the terms of payment, after each of the first three Friday mows, Alyssa pays Bret on Saturday. The payment term is