Exam 19: Contract Requirements

Mary promised Alex to give him a car as a gift if Alex graduates from the university with honors. Mary also made a pledge to a church to donate $5,000 to its mission trips fund. After his graduation with honors, Alex reminded Mary of her promise, but Mary said she has no obligation to give Alex the car. When the church secretary called to collect the money, Mary told this person that she changed her mind about the donation. Discuss what legal obligations Mary has and to whom.

Contracts in restraint of trade are legal and enforceable.

Match the terms with their descriptions: -Adhesion contracts

Match the terms with their descriptions: -Forbearance

Courts enforce only valid and legal contracts.

Federal law disallows contracts to be signed with e-signature.

In a unilateral contract, the consideration is the promises exchanged by each party.

What Latin phrase means "this for that"?

What mistake is made when both parties are mistaken about a material fact of the contract?

What term describes the necessary writing satisfying the statute of frauds?

What is an example of consideration?

Contracts to purchase certain items on Sundays, such as alcohol, are called ________ contracts.

Influence of drugs is an obstacle to contractual ________ of adults.

What term describes standardized language commonly used in similar legal documents?

What kind of gambling is legal in some states?

To satisfy the statute of frauds, a real estate contract must identify the ________ of land.

A promise to answer for the debt or default of another is known as a(n) ________ promise.

A person too drunk may not realize that he or she is making a contract.

Define a memorandum. Identify types of contracts that must be in writing to be enforceable. Identify what kind of writing satisfies the statute of frauds.

Charitable subscription is never an exception to a gift-promise rule.