Exam 11: Nature and Terminology

Smith & Jones, Accountants, agrees to perform an audit for Brick & Mortar Stores, Inc. Whether or not this agreement meets all of the requirements of a contract, the parties are likely to follow the rules of contract law because they

A party who has conferred a benefit on someone else unnecessarily can invoke the principle of quasi contract to recover the cost.

Bilbo signs a lease agreement for an apartment with Cato, who owns and manages the Deer Creek Apartments complex. These parties have

A bilateral contract comes into existence at the moment promises are exchanged.

On behalf of Meadow's Edge Golf Course & Club, Norton signs and returns a letter from Oralee, referring to her services as a resident golf pro and their price. When Norton attempts to complete the deal, however, Oralee re?fuses, claiming that they have no con?tract. Norton claims that they do. What standard determines whether these parties have a contract?

Gilbert promises to buy Hadley's iPod for $75. Hadley is

The doctrine of quasi con?tract generally can only be used when there is an actual contract that covers the matter in controversy.

A quasi contract is an actual contract.

Wilson buys a lottery ticket at his local gas station. Wilson has accepted an offer for a

Otto mistakenly pays property taxes that should have been assessed against Pip. Otto can recover the amount from Pip in quantum meruit

In a one-care auto accident, Carmel is rendered unconscious and otherwise injured. At the scene, Dana, a physician, acts to save Carmel's life. Later, Dana seeks to recover for the cost of the aid. She is most likely to recover

Francie drives into Gage's Auto Service and asks Hong, a Gage's employee, to replace a tire on Francie's car. After Hong replaces the tire, but before Francie pays for it, any contract between Francie and Gage's is

A void contract imposes certain legal obligations on the parties but is not otherwise enforceable.

In contract law, intent is determined by the personal or subjective intent, or belief, of a party.

When a contract's writing is not clear, a court will enforce it according to its obvious terms.

Contract law demonstrates which excuses our society accepts for breaking certain types of promises.

Jonah tells Levi he will give him an Xbox if Levi does Jonah's chores for a month. Levi promises to do the chores. Jonah and Levi have formed a

Avatar, Inc., agrees to deliver t-shirts emblazoned with video game characters for a certain price to Bling Bling Corporation. To consti?tute a contract, the terms of this deal

When Hester's car breaks down, she asks Insta-Tow, Inc., to tow it to Jerry's Repair Shop. There is no discussion of a price, and Hester and Insta-Tow do not sign any documents. Later, Insta-Tow sends Hester a bill. With respect to Hester's obligation to pay the bill, this is

In an express contract, the terms are fully and explicitly stated in words.