Exam 7: Contracts.

If a new law of general application indirectly affects a government contract,making the government's performance impossible,the __________ will protect the government in a subsequent suit for breach of contract.

Ann promises to give Carlos $50 if he promises to sell her a business law book.This is an example of a(n)__________ contract.

In certain cases a court may order specific performance rather than monetary damages.

What are the four basic elements necessary for a valid contract?

An agreement between two parties that provides that the buyer will buy all of a particular product from a particular seller is called a(n):

Which of the following does NOT generally make a contract voidable?

A merger agreement is an agreement between two companies to combine into a single entity.

Under the __________ rule,when a contract is unambiguous any evidence of contemporaneous statements are __________in court.

Describe the three standard measures as listed in the text that courts have developed to measure monetary damages in contract cases.Explain how each would be measured.

Which of the following are damages that compensate the plaintiff for any expenditures it made in reliance on a contract that was subsequently breached?

An objective standard is used in determining whether an offer has been made.

A contract entered into by a minor is:

Which of the following is true regarding a mistake of judgment?

Commercial transactions involving the sale of goods,movable personal property,are governed by which of the following?

Fact Pattern 7-1 Prudence offered to sell her car to Danny for $3,000. Danny was not sure what to do, so he asked Prudence if she would hold the offer open for him for one week for $50. Prudence said sure, and the parties signed a contract to the effect that Prudence would hold the car. A few hours later, Bobby unexpectedly offered Prudence $3,500 for the car, and Prudence sold it to him on the spot. Danny decided to buy the car, but when he came by to pick it up the next day, it was gone. Prudence gave Danny his $50 back telling him that was her only obligation and that if he had any complaints, he could take it up with Bobby. Danny found a similar car the next week for $3,500 and purchased it. -Refer to Fact Pattern 7-1.What damages,if any,could Danny likely collect against Prudence in litigation over the car?

In CASE 7.2,Kurashige v.Indian Dunes,Inc.(1988),plaintiffKurashige,used Indian Dunes Park for motorcycle dirtbike riding.Prior to entering the park he signed a general release.Kurashige was injured and sued Indian Dunes.How did the court rule andwhy?

Under the doctrine of __________,a court may invalidate an agreement if one party had sufficient influence and power over the other as to make genuine assent impossible.

In a unilateral contract,a promise is given in exchange for another promise.

An illegal contract is generally considered a voidable contract.

__________ damages compensate a party for losses that occur as a foreseeable result of the breach.