Exam 9: Nature and Classification

Peter offers to pay Quik Delivery (QD)$50 if it picks up and delivers to him a package from Rico within 30 minutes.QD can accept the offer only by meeting the deadline.If QD performs as directed,these parties will have

A promise is an assertion that something will or will not happen in the future.

A reasonable,lawful,and effective meaning will normally be given to all of a contract's terms.

Demi promises to buy a house from Caleb,who promises to vacate the property on June 1.If these promises are in writing,they are most likely

When the words in a contract have more than one meaning,they are cut from the contract.

One of the requirements of a valid contract is its acceptance.

Dot,a real estate agent,tells Elbert,a home seller,that her commission is 12 percent.Elbert agrees that Dot can sell his house but refuses to sign a contract unless the amount of the commission is reduced.After the house is sold,Elbert refuses to pay 12 percent.Dot is most likely to recover

To be valid,a contract must be enforceable by all of the parties to it.

On behalf of the rock group Uno,their manager Thalia agrees to a performance in Seaside Amphitheatre on July 4.Rex,acting for Seaside Productions,sends a written copy of the agreement to Thalia to be signed.Typically,businesspersons put their contracts in writing to

A contract is a promise to act.

A quasi contract arises from a mutual agreement between two parties.

Hubert mistakenly pays property taxes that should have been assessed against Jesse.Hubert can recover the amount from Jesse in quasi contract

Jack promises to buy Kris's computer for $400.Jack is

Bobbie claims that Carl breached their contract.Carl responds that he never intended to enter into a contract with Bobbie.The intent to enter into a contract is determined with reference to

Contract disputes rarely arise on a promise of future performance.

Plain language laws regulate some types of contracts to require "legalese."

Green Grocers,Inc.,enters into a contract with Hiway Transport Company for the delivery of a shipment of fresh produce.If the language in the contract has more than one meaning,it will be construed against

A check,like other negotiable instruments,is a formal contract.

Parties can form a contract without putting the terms in writing.

If a voidable contract is avoided,the parties to it are released from it.