Exam 10: Contracts

A transfer of contract duties to a third party is a delegation.

The award to a prevailing party in suit for breach of contract to recover costs incurred due to relying on the promise of the other party is called:

In Hinson v. N&W Construction, where Hinson submitted the low bid to N&W for plumbing work to be part of a larger construction project by N&W, but then refused to do the work when construction was started by N&W, the court held that Hinson's bid:

Acceptance of an offer must be ____ or definite.

A person can disaffirm a contract if it was agreed to due to:

If parties enter into a contract by mistake, the contract may be disaffirmed.

In the divorce agreement between Ted and Alice, Alice agreed to assume the debt on Ted's credit card. The credit card company agrees to this arrangement. This is an example of:

The idea that breach of contract generally only allows recovery for profits and costs incurred due to the breach is called:

A ____ to the promisor exists when the promisor acquires some legal right through the promisee's act, promise to act, or refraining from doing some act.

A legally binding contract that can be terminated at the option of one of the parties is called:

Some contracts must be in writing and signed to be enforceable. Contracts that are covered by the statute of frauds include:

A contract may be based on a promise not to do something.

In Scheerer v. Fisher, where Scheerer claimed he was cut out of a real estate commission he should have received, the appeals court agreed he should be paid based on quantum meruit.

An offer that has unclear major terms, or is missing important terms:

A(n) ____ is an act, or a promise to act, or the refraining from an action, such as giving up a legal right.

A valid contract can become unenforceable because of a statute passed after the contract was formed.

The economic loss rule holds that in case of a breach of contract, all losses, including mental distress and punitive damages, shall be calculated in favor of the party who suffered the effects of the breach.

In DCS Sanitary Management v. Castillo, where a company had employees agree not to work for any competitors within 100 miles of any customer of DCS, the appeals court held that the agreement:

A hires B to work for his logging operation, which is dangerous work. A has B sign a contract that says that B will not sue A in the event of injuries that happen on the job. This contract, which is probably illegal is:

Parties to a contract may agree not to fulfill the contract as it was originally stated.