LA 105 STUDY GUIDE FINALS

The law contracts

contract law based on the idea that people should be secured in knowledge that promise will be honored a.k.a. promise to complete task

uniform Commercial Code

The UCC is a set of laws that makes business rules the same across states it covers buying and selling goods, loans with collateral checks and business deals

describe the elements of a contract

Offer acceptance consideration

why are contract gifts unenforceable

They lack consideration, no exchange value

describe assignment

Transfer of rights from one party to another

describe delegation

Transfer of duties;delegator is still liable if task is not performed

describe fraud in fact

One party tricks another into signing

Bilateral Contract

Promise for a promise

Unilateral contract

Promise For performance

Article 2

Article 2 controls contracts for the sale of goods and it sits rules for making deals handling problems and protecting both buyers and sellers

Describe Merchant

Regular seller or someone with knowledge in trade

Describe Goods

Tangible movable items, not attached to land

CHAPTER THIRTEEN KNOWLEDGE

Definition of a contract

• Elements: offer, acceptance, consideration, assent

• Valid vs. invalid contracts

• Types: bilateral & unilateral

• Third parties: assignees, delegates, beneficiaries

•Assignment & delegation

• Contract formation/enforcement issues

• Defenses to breach

• Remedies for breach

UCC CODE QUIZ NOTES LECTURE

UCC Rules for commercial transactions

• Sale and lease of goods (Article 2 and 2A)

• Negotiable instruments (checks, promissory notes)

• Secured transactions (loans with collateral)

• Bank deposits and collections

• Letters of credit

• Bulk transfers and warehouse receipts

LEFKOWITZ V GREAT MINNEAPOLIS SURPLUS STORE , INC

Who is the plaintiff in LEFKOWITZ V GREAT MINNEAPOLIS SURPLUS STORE , INC

Lefkowitz

Who is defendant LEFKOWITZ V GREAT MINNEAPOLIS SURPLUS STORE , INC

Great Minneapolis Surplus Store

What year was the case decided ? LEFKOWITZ V GREAT MINNEAPOLIS SURPLUS STORE , INC

1957

What was the issue ? LEFKOWITZ V GREAT MINNEAPOLIS SURPLUS STORE , INC

Whether defendants add a newspaper was an offer to enter into contract when plaintiff accepted by being first person in store

was this case based on the written agreement?

No, it was not based on a written agreement

Who is the plaintiff?MAYFIELD V. SWAFFORD, (1982)

mayfield

Who is defendant ? MAYFIELD V. SWAFFORD, (1982)

Swafford

what year was case decided MAYFIELD V. SWAFFORD, (1982)

1982

what was the issue ? MAYFIELD V. SWAFFORD, (1982)

what is a proper measure of damages when a construction contract is breached and cost of repair is this a disproportionate to the benefit to the property owner?

statue of limitations

The deadline to file a lawsuit

pleadings

written documents, each side gives the court to explain their case

summons

A paper telling someone they’re being sued and must respond

complaint

The paper that starts a lawsuit and explains what the plaintiff wants

statute

written laws made by the government

affirmed

When the higher court agrees with the lower court decision

Respondent

The person who answers a response to a legal claim often and appeals or family cases

Appellate

Refers to a court that reviews decisions made by lower courts

Chapter 12 property law

Covers real property law, including types of ownership, freehold estates like fee simple, and other interests in land. Discusses rights between multiple owners, air and subsurface rights, easements, fixtures, and incorporeal interests. Also includes buyers’ and sellers’ rights, adverse possession, and key examples from current law.

CHAPTER 14 LAW OF BUSINESS

Covers how agency relationships are formed in contracts. Explains duties of agents and principals, and types of authority (like apparent and ratified). Also discusses business types such as sole proprietorships and general partnerships.

Real property

Land and anything attached to it “”like buildings “”

freehold estate

Ownership interest in real property for an unknown length of time

Fee simple

The highest form of property ownership full control that can be passed to heirs

Life Estate

Property ownership that lasts for someone’s lifetime then goes to another person

tenancy in common

two or more people own property together, but their shares can be different and pass to anyone in the will

joint tenancy

Two or more people own property equally, and if one dies, the share goes to the others

right of survivorship

when a co-owner dies, their shirt goes automatically to the other co-owners

tenancy by the entirety

property ownerships only for married couples includes right of survivorship both must agree to sell or transfer

Partnership

A business owned by two or more people who share profits and losses

Limited partnership

A partnership with at least one general partner with full control, and one limited partner (investor only)

Corporation

Illegal business entity, separate from its owners offering limited liability

articles of incorporation

legal document filled with the state to create a corporation stating agents name, purpose structure

Who is the plaintiff ? LEONARD V PEPSICO INC

Leonard

Who is defendant ? LEONARD V PEPSICO INC

Pepsico Inc

What year was case decided LEONARD V PEPSICO INC

1999

What was the issue LEONARD V PEPSICO INC

whether a television commercial can be considered a valid offer to contract under contract law

who is the plaintiff NEVADA CONTRACT INC V SQUIRREL COMPANIES (2003)

Nevada Contract Sevices Inc

who is the defendant ? NEVADA CONTRACT INC V SQUIRREL COMPANIES (2003)

Squirrel companies Inc

What year was the case decided ?NEVADA CONTRACT INC V SQUIRREL COMPANIES (2003)

May 2003

What Was the issue ?NEVADA CONTRACT INC V SQUIRREL COMPANIES (2003)

Can circumstantial evidence of malfunction supported each of warranty claim, even if the exact effect cannot be identified

Motion for summary judgement

A request to enter a case without a trial because there are no disputed facts only legal issues remain

statue of frauds

A rule that certain contracts like for goods over $500 must be in writing to be enforceable

testimony

statements a witness gives under oath in court or during legal proceedings?

expert witness

A person with special knowledge who gives opinions to help the court understand complex facts

breach of warranty

When a product doesn’t meet, the promises warranty is made by the seller violating UCC rules

circumstantial evidence

Evidence that suggest something happened based on related facts not direct proof

NRCP 35

Physical and mental exams

NRCP 36

Request for admissions

NRCP 37

discovery sanctions

NRCP 50

JUDGMENT AS A MATTER OF LAW

NRCP 54

COSTS AND ATTORNEY FEES

NRCP 56

SUMMARY JUDGEMENT

NRCP 58

Entry of judgment

article one of UCC

all parts of the UCC definitions on general rules

Article 2

covers contracts for sale of goods

Article 3

governs negotiable instruments like checks and promissory notes

Article 4

Regulates bank deposits and collections including electronic transfer

NRS 100

debtor- creditor relations

NRS 104 uniform Commercial Code intro

Uniform Commercial Code intro

NRS 200

CRIMES AGAINST PEOPLE

NRS 500 vehicle licensing and traffic

Vehicle licensing and traffic

The theory of respondeat superior is

The legal rule employer is responsible for actions of their employer, if the employee was doing their job