Exam 10: Contracts

In DCS Sanitary Management v. Castillo, where a company had employees agree not to work for any competitors within 100 miles of any customer of DCS, the appeals court held that the agreement:

The economic loss rule holds that in case of a breach of contract, only economic losses, not such things as mental distress, will be compensated.

Termination of an offer by the parties involved can be done by all of the following except:

A doctrine to avoid injustice that is used by the courts to bind a promisor to promises that a reasonable person would rely upon without consideration, is called:

The courts may impose obligations on one party to a dispute to avoid unjust enrichment to the other party. This is called:

A contract can be discharged by:

The basic elements of a contract include agreement, lawful subject matter, legal capacity, consent, and:

The ____ evolved in commerce over the centuries.

Consideration is defined as something of value or something bargained for in exchange for a promise. Normally, if consideration is absent:

An intoxicated person has no capacity to contract.

If the values of the items exchanged in a contract are unequal courts generally:

Express contracts must be in writing to be valid.

An effective acceptance must be:

When the party who breaches a contract has behaved maliciously and committed a tort, the court may want to discourage such behavior in the future by imposing what damages besides regular damages?

____ is the legal ability to create a contract.

An offeror can terminate an offer by:

When a breach of contract occurs, the non-breaching party is required to:

If Scott makes a nonbinding promise to Lee and then fails to fulfill it:

The Statute of Frauds requires that a promise to pay debts of another person must be in writing to be a valid contract.

A binding promise may be defined as: