Exam 9: Introduction to Contracts

When promissory estoppel is used by the courts,it is because there is NOT an enforceable contract present.

When John comes home from work one evening,he finds that the leaves in his frontyard have been raked and put in bags.Later,a man comes to collect for the yard work done.John refuses to pay for the work since he has never seen the man before and did not hire him to do his yard work.Which of the following answers is most accurate?

Zena enters into a contract with Steeley Company to purchase a washer and dryer.She doesn't understand the financing terms,but signs the agreement anyway because she needs the appliances.The financing terms are very unfavorable to Zena,and she is unable to make all of her payments when they are due.Steeley sues.The court would:

A valid contract can legally be voided by either party.

Robert offers to buy a car from Jane for $400.Jane must accept this offer in order to form an enforceable contract.

List and briefly describe the basic elements of a contract.