Exam 6: The Elements of a Contract: Consensus and Consideration

When a person has agreed to paint a house and,before the job is finished and payment is due,the other party refuses to allow completion,the court will use the quantum meruit principle to require the breaching party to pay a reasonable price for the benefit he has received.

Which of the following is an ingredient necessary to form a contract?

Roberts has the chance to buy three adjacent city lots zoned "duplex." The most profitable return would be the building of four townhouses across the three lots,but that would necessitate getting permission from the city for the replotting,which would be a time-consuming process.If Roberts buys a 60-day option from the seller of the properties for $4000,which of the following would be true?

Harry saw Joe in his classic Buick at a local drive-in restaurant and talked about wanting to buy the car.Joe offered to sell it to him for $1500.Harry said he needed some time to think about it and that he would send him a letter.The next day,Joe changed his mind and mailed Harry a letter of revocation.The day after that,before Harry had received the letter of revocation,he sent a letter of acceptance to Joe.The next day the two letters arrived at their various destinations,Joe receiving Harry's letter of acceptance just after Harry received Joe's letter of revocation.Explain the legal liabilities of the parties.

When you pay for an option,this prevents a person from revoking his offer before the expiration of the specified time.

A purchaser issues a request to get the best possible price on a required product or service.This is referred to as a tendered bid.The Supreme Court of Canada has decided that in some circumstances such tendered bids:

A contract with fixed terms prepared by a business is known as ________.

Anmool verbally agreed to build a deck for Nikki for $1000 by the 15th of September,in time for a lavish backyard barbecue she was planning.On September 13th,Nikki became concerned at Anmool's lack of progress.Anmool told Nikki he would complete the deck on time,for an additional $200.Nikki agreed and Anmool completed the deck on time.Which of the following is correct?

List the five ingredients necessary to form a contract.

If the postbox rule applies,a letter of revocation takes effect at the time of mailing.

Even though a person promises to hold an offer open for a specified period of time,the offeror can revoke that offer before that time if he feels like it.

The promise to make a charitable donation is not enforceable because it is a one-sided promise,even if the charity makes a commitment in return-such as a promise to name a building after the donor,or to use the money in a certain way-it has made a commitment.

What would be the result if a police officer arrived at the scene of crime in progress and demanded money from the victim to arrest the offender?

If the mail is a reasonable means for accepting an offer,is there a contract formed when the offeror drops a letter of revocation in the mailbox at the very same instant that the offeree drops a letter of acceptance in the mailbox? Explain.

Carlos visited Vancouver last summer and instead of going back to Ontario he stayed and enrolled at Simon Fraser University.He needed money but didn't need things left in Ontario,including his car.In mid-December,he wrote a friend and offered to sell the car for $4000 and told him to send him a letter with his answer.His friend received the letter on January 2,checked his financial situation,and sent a letter of acceptance January 3.Meanwhile Carlos,short of cash and not having heard from his friend,sold the car to Mr.Reno on December 31.Carlos received his friend's letter January 8.On these facts,which of the following is true?

Which of the following statements would be true with regards to the Uniform Electronic Commerce Act (UECA)?

If a person offers to hold his offer open for a period of time,he can still revoke it before that time if he changes his mind.

Only the essential terms of a contract must be set out in the offer.

Which of the following shows accurate use of the doctrine of promissory (equitable)estoppel?

An invitation to treat is an offer published in the newspaper.