Exam 10: Contracts

The Restatement (2d) of Contracts is:

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:

Promissory estoppel applies when, to avoid injustice, a court refuses to enforce a grossly unfair promise.

Termination of an offer by operation of law does not occur:

Acceptance of an offer requires ____ by the offeree.

A contract is unenforceable if:

The ____ controls the terms of the offer when a contract is made.

A contract is a(n) ____ if it arises from the actions rather than the expressions of the parties.

The Restatement (2d) of Contracts defines a promise as:

For an exchange of promises to be legally binding, parties must make sure the exchange:

Promissory estoppel is also known as detrimental reliance.

In general, contracts in Japan (compared to business contracts in the U.S.) tend to be:

An injunction may be a court order to do something or to not do something.

The basic elements of a contract:

In an express contract, promises are inferred from the behavior of the parties in relation to one another.

An offer that terminates by operation of law through ____ occurs when a court decision or legislation makes an offer illegal after it has been made.

A(n) ____ is when one party to the contract has the right to avoid a legal obligation.

The freedom of contract is a hallmark of:

A offers B $100,000 for his farm, and they sign an agreement for the sale. Before the money is paid, A finds out that the market value of the farm is only $55,000. A:

A(n) ____ releases one party from the consequences brought about by wrongful acts or negligence.