Chinedu Okonkwo vs Jessica Tripp LEGL 2700 EXAM 2 Review

When people apply efforts to any raw material and change its nature into finished products, they own the finished products

Law of Accession

Susie hires a swim coach to learn how to swim but Susie gets into a car accident and gets paralyzed, what type of nonperformance is this? (RIP Susie)

Frustration of Purpose (Common Law)

Requires the defendant to do what he/she is contractually obligated to do to do
It is used for Unique Subject Matter(land)

Specific Performance

What are the bundle of rights?

Right to exclude
Right to process
Right to use
Right to sell
Right to control
Right to gain income

An estate to Juanita no restrictions

Fee Simple Estate Absolute

An estate to Juanita as long as it's used as a manufacturing plant

Fee Simple Defeasible

If the Land reverts to the original grantor upon the death of Sally, the original grantor has

reversion internet

If the property goes to someone other than the original grantor upon Sally's Death , that person has

remainder interest

Borrowing a lawnmower from a neighbor is what type of bailment?

For the sole benefit of the bailee.

Gift does not take place until the donor

Intends to make the gift
Delivers the gift by physical transfer to the donee

Arises from use of land that causes inconvenience or damage to the public

Public Nuisance

Parties have not yet performed their agreement

Executory Contract

If the Acceptance is already in the mail then the Revocation is ineffective, True or False?

TRUE

One of the parties to a contract is wrong about a material fact

Unilateral Mistake

When one is taken advantage by a party who misuse a position of relationship or legal confidence

Undue Influence

Parties have a simultaneous duty of performance

Concurrent Conditions

What are some examples of Force Majeure?

Natural Disasters, Pandemics, Strikes, War\
Note: If that natural event is not explicitly in the contract then you would still have to perform (probable test question)

Damages for the downstring impact of the breach (arises from unusual foreseeable lawsuits)

Consequential

Can enforce the contract against the Promisor OR Promisee.

Creditor Beneficiaries

A Mom is buying a car for her son from a car salesman, if the car fails to be shipped what can the son do?

The son cant sue the mom but he can sue the car salesman

You go hiking and see a bear on one of the trails, There's no duty to warn other hikers that there's a bear roaming around even though they could potentially get hurt. Do HAVE to warn them?

You may feel a moral responsibility to warn others but there's no legal responsibility to do so (I know I would not)

Property over Land and interest in land (includes Buildings)

Real Property

Property over all moveable resources

Personal Property

Owner of real property possesses the air above the land to a certain extent

Air Rights

Landowner owns the liquids, gases, rocks, and minerals beneath the land​

Subsurface Rights

Personal property that has converted into real property, Anything connected to the property, ceiling fan

Fixtures

Grants an ownership in land for the lifetime of a specified person​

Life Estate

Cannot damage, sell and must upkeep the property while having a present interest

Life Estate Holder

Property right granted to tenants by a landlord

Leasehold Estate

If more than one person owns the same property

Concurrent Ownership

Can have different shares (ie two-thirds and one-third)​
No rights of survivorship
Can be partitioned

Tenancy in Common

Must be equal
Rights of survivorship
Can be partitioned

Joint Tenancy

Asking someone to not do something their own property that will impact your property

Negative Easement

Use the land openly, Use the land wrongfully, Use the land continuously

Easement by prescription

You can continue to use the land, aswell as the owner

Easement by prescription

A right that allows one property owner to make use of a neighboring property for purposes naturally arising from the land, such as drainage or access to sunlight, without the need for a formal agreement

Natural Easement

Goods placed into another's possession to be returned in the future.

Bailments

The owner of an object

Bailor

The possessor of the Object

Bailee

Asking to a neighbor to watch your car is what type of bailment?

For the sole benefit of the bailor.

Renting a car from Enterprise is what type of bailment?

Mutually beneficial

First person to reduce previously unowned things to possession becomes their owner.

Rule of first possession

First person to reduce abandoned thing to possession owns it. (Ifthat person intended to abandon the property)

Abandoned Property

Finder becomes owner by reducing the item to possession and following a statutory procedure

Lost Items

Leaving your phone on a table intentionally and coming back to look for it

Mislaid item

Provides ownership of land under state statute when the possession is:
Open and notorious: It is known that you are living there
Actual and exclusive: The person occupying the land
Continuous: Cannot be interrupted
Wrongful: You are not the current owner
For a prescribed period of time: 10-20 years

Adverse Posession

The previous owner does not have any rights to use the property now from this

Adverse Posession

Occurs when fungible goods are mixed together

Confusion

If someone has an engine and turns it into an airplane, it's their airplane.

If someone intentionally takes an engine from someone else and adds it to their airplane, the owner of the engine would be the owner of the airplane.

If someone unintentionally takes your engine and turns it into your airplane, they would own the plane but would have to reimburse the other person for the cost of the engine.

Accession

Document registered with the state for certain types of personal property that represents ownership

Title

Document of title that transfers ownership of land

Deed

promises the grantee that the grantor has good ownership and the full power to convey it.
Buyer can sue the seller if someone else claims the land.

Warranty Deed

Limits the liability of the grantor/ownership.
Does not hold the grantor liable for what happened prior to his to her ownership.
No guarantees against title defects dating from previous owner.
Current GA Real

Special/Limited Warranty Deed

Makes no guarantees other than that the grantor surrenders all claim against the land.

Quitclaim Deed

The lender must go through the court system to foreclose your property

Judicial Foreclosure

The lender doesnt go through the court system to foreclose on your property

Non-Judicial Foreclosure

Is Georgia Judicial or Non-Judicial?

Non-Judicial

Arises when someone contributes parts and/or services to personal property and is not paid (possessory)

Artisan's Lien

Arises when someone contributes materials and/or services to real property and is not paid .
NOT possessory, only has priority if it is perfected by written notice

Mechanic's Lien

Unreasonable use of one's property to cause substantial interference with the enjoyment or use of another's land

Private Nuisance

Limits the use to which land can be put to that specified.
Industrial facilities cant be built in residential districts

Zoning

Allows for use for land in way that is not currently permitted under zoning limits EX: building a food spot in a residential are

Variance

Do contracts need to be formal written document

NO!

a legal principle that prevents parties in a written contract from introducing evidence of prior or contemporaneous agreements that contradict or modify the terms of the written agreement.

Parole Evidence Rule

An Agreement of mutual promises

Bilateral Contract

David promises to give Laura laptops and Laura promises to give David a $1000

Bilateral Contract

An agreement with only one promise
Only one person is obligated to perform

Unilateral Contract

Lisa promises to pay Olaf $1000 if 100 units are sold at the end of the year

Unilateral Contract

The parties show their agreement in words (written or oral).
The parties actually discuss the promised terms of their agreement

Express Contracts

Arise from the conduct of the parties rather than words (EX: You go to eat at Juicy Crab and you eat so it's implied that you will pay the bill)

Implied in Fact Contracts

Judicial remedy to prevent one party from receiving unjust enrichment

Implied-in-law aka Quasi-Contracts

Follow me on instagram or connect with me on Linkedln PLEASE (@lvl1chin) https://www.linkedin.com/in/cokonkwo1/

(if you want to)

Paying a credit card company $1000 more than u owe and expecting that money back

Implied-in-law aka Quasi-Contracts

Valid: All required elements are met
Enforceable: Agreement will be upheld in court
Unenforceable: A party has a justifiable reason for not performing
Void: The agreement lacks an essential element
Voidable: At least one party can withdraw and make the contract void

Contractural Terminology

Parties have performed their promises

Executed Contract

Offer to enter into a contract
Acceptance of the Offer
Consideration for each promise
Capacity of each party to enter into a binding agreements
Legality

Elements of an Enforceable Contract

Revocation: Offeror takes back offer
Rejection: Offeree rejects offer
Counteroffer: Offeree rejects offer and makes a new one
Lapse of time: An offer has a time limit on when it can be accepted
Subject Matter Destruction: the subject of a contract has been destroyed (house burned down)
Offeror Death or Insanity
Subject Matter Illegality

Different terminations of an Offer

Acceptance must match or "mirror" the offer exactly to create a binding contract, otherwise it is a counteroffer. (exception UCC)

Mirror Image Rule

Acceptance becomes legally binding when the offeree dispatches it (puts it in the mail)

Mailbox rule

It is not effective until the offeree has recieved it

Offeror's Revocation

A promise to keep an offer open

Option Contract

A contractor demanding more money for the same work
Doesnt apply to UCC sale of goods

Pre-existing Obligation

Equitable/Fairness Doctorine
A party who reasonably relies on a gratuitous promise can ask a judge to award compensation for that reliance .
Applicable when a party justifiably relies on a promise that is not supported by consideration to his or her economic detriment
Can make a contract valid despite the absence of consideration

Promissory Estoppel

Bill promising to pay Sarahs college tuition if she graduates highschool is an example for?

Promissory Estoppel

How Does a Court Determine Competence?

Whether the adult was capable of understanding the nature and purpose of the contract

Requires certain types of contracts to be in writing :(If it can not be completed in one year)

Statue of Frauds

If transaction is immediate it doesnt need to be in writing even if its over $500 and what is the exception?

Statue of Frauds, Specifically made (manufactured) goods

Vicki hired Patty to paint murals in her house for $5000. Their oral agreement stated the murals would be completed within 18 months but actually the murals could be completed within 1 year. Is the agreement enforceable?

The agreement is enforceable because the work could be completed within 1 year.

The statute of frauds requires that all but which of the following contracts must be in writing to be enforceable?

An agreement with a gardener to pay her $600 to plant a vegetable garden for you

Linda bought a watch from Macy's for $600. She didn't sign a contract despite the rule that a sale of a good over $500 requires a written agreement. Why

The agreement to buy and sell occurred immediately.

The parties involved do not have a mutual understanding or agreement on the essential terms of the contract, making it invalid or unenforceable.

Lack of a meeting of the minds

A misrepresentation of fact with the intent to deceive that a party justifiably relies on and results in injury.

Fraud

A misrepresentation of fact without intent to deceive that a party justifiably relies on and results in injury

Innocent Misrepresentation

What is the remedy for Fraud?

The defrauded party has the option to void the contract OR may enforce the contract and sue for damages resulting from the fraud (including punitive).

What is the remedy for Innocent Misrepresentation?

The injured party has the option to void the contract

Both parties are mistaken as to some fundamental/material impact of the agreement.

Mutual Mistake

You agree to purchase yarn for $7 but you meant to say $5. This is what type of mistake?

Unilateral Mistake

How Does a Court determine Materiality?

Test: Whether the parties would have contracted had been aware of the mistake
Note: The mistake must be one of fact

Action that compels another to do what he or she would not otherwise do
Duress means force or threat of force

Duress

If someone is pointing a gun at your head and telling you to sign a contract is this Duress?

Threatening to sue someone if a deal does not work out is not duress