Exam 10: Nature and Classification

A signed agreement for Wi-Fi service is an express written contract.

Without a legal framework of reasonably assured expectations within which to make plans, businesspersons would most reliably be able to count only on others'

Rough Water LLC and Schafer enter into a contract for the delivery of a used fishing boat. Until the boat is delivered and paid for, these parties have

A contract is considered to be unequivocal even when a term is susceptible to more than one interpretation.

Bo signs a lease with Capri Properties to lease a studio apartment for the next year for $850 per month. Daisy signs on Capri's behalf. Bo and Capri have

If a voidable contract is ratified, both parties are released from it.

Vicky asks Walt, a cobbler, to repair a pair of boots. There is no discussion of a price, and Vicky and Walt do not sign any documents. After the repair, Walt hands Vicky a bill. With respect to Vicky's obligation to pay the bill, this is

Steel Mill Inc. makes an offer to Tom to enter into a contract to work as a mechanical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Tom accepts the offer. This is a valid contract because it includes

A promisee has the right to expect or demand that something will or will not happen in the future.

Contests and lotteries are unilateral contracts.

Movers LLC promises to deliver a certain couch to Nora, who promises to pay for the service. If Movers does not perform, it may be required to

A letter of credit is a type of formal contract.

An agreement to form a contract cannot modify the terms of a previous contract.

A contract is an implied contract if the conduct of the parties creates and defines some of the terms.

One of the requirements of a valid contract is an adequate market for the deal's goods or services.

A party who confers a benefit on someone else unnecessarily can obtain its fair value by invoking the doctrine of quasi contract.

Omar asserts that a deal he entered into with Pat to sponsor and host a motivational conference for independent sales representatives was formed as the result of a mistake. Omar's best defense to the enforcement of this contract is

On behalf of the jazz group Fusion, their manager Greg agrees to a performance in Hillside Amphitheatre on July 4. Greg and Hillside sign a written copy of the agreement. These parties have

Field Construction Inc. contracts with Mesa Ranch to build a new horse barn on Mesa's property for which Mesa agrees to pay. If this is a valid contract, it will be partly because it includes the element of

Sal enters into a contract with Trucking Company to work as a driver. Under the plain meaning rule, the court cannot consider any evidence not contained in the document if