Exam 13: Practical Contracts

Contracts must use formal terminology such as "whereas" and "heretofore" in order to be legal.

Which of the following is the best example of a contract title?

Provisions that a party agrees to perform only if the other side also does what it promised are called

Compare and contrast the perspectives of a lawyer and a business client when approaching the negotiation of a contract.

Which of the following generally is NOT in the introductory paragraph of a contract?

A severability provision

Emily runs a children's clothing boutique that takes in local homemade items on a consignment basis. Her standard form contract indicates that Emily has the right to put items on sale without prior approval, but does not specify what effect the sale has on the consignor's payment percentage. Her intent is to keep the same profit she would have had without the sale. She is using ambiguity in her contract to increase her sales and profit.

Ambiguities in contracts are always interpreted in favor of the party who wrote the contract, since he or she is the one who knows what the provision is supposed to mean.

A+ Modeling Agency signs a contract with Sandi to do a photo shoot for the local used car dealer's advertising. The contract was most likely written by

Identify and explain at least four situations where a written contract is either necessary or recommended.

A contract's title need not be descriptive; the title "AGREEMENT" is sufficient.

In the case of scrivener's errors, a court will usually

When a provision to a contract is accidentally unclear, it is called

An honest effort to meet both the spirit and letter of the contract is termed

Ralph is a professional football player. He signs a valid contract with the Miami Dolphins. Later, he claims that he was also promised free use of the Dolphins' private jet, but this was not in the contract. What type of clause in his contract would prevent him from flying away with this claim?

In the case of a typo, a court will reform a contract if there is clear and convincing evidence that the alleged mistake does not actually reflect the true intent of the parties.

In business law, a lawyer's primary job is to represent the client in contract litigation.

Rich and Archie sign an agreement in which Archie agrees to deliver ten cases of champagne in 5 days. The parties negotiated and meant to say in the written agreement, delivery in 50 days. If the evidence is clear that the two parties intended to agree to 50 days, the courts will probably

In a contract modification, the phrase "charged with such amendment" refers to

Two parties are debating whether or not to put their contract into writing. In making their determination, which of the following factors would normally NOT be considered?