BLAW 220 10,12,23,15,16

Why does contract law exist?

To ensure enforceability of promises made in legally binding agreements.

What are the two elements to form a contract?

Offer and Acceptance.

What are the four elements required to enforce a contract?

Legality, Consideration, Contractual Capacity, Agreement.

What is the age requirement for contractual capacity?

18 years old and mentally competent.

What is a bilateral contract?

A promise for a promise (e.g., sales or employment contract).

What is a unilateral contract?

A promise for an act, contract forms after performance (e.g., $500 if boat delivered).

What is an implied contract?

Formed through conduct rather than explicit words (e.g., regular paid lawn mowing).

What is an executory contract?

One or both parties still have duties to perform.

What is an executed contract?

All terms of the contract have been fulfilled.

What is revocation in contract law?

Offer withdrawn before acceptance.

What is rejection in contract law?

Offer is declined.

What is a counteroffer?

New offer that terminates the original.

What is lapse of time or death in contracts?

Causes the offer to terminate automatically.

What is a compensatory remedy?

Covers direct loss (e.g., refund for undelivered goods).

What is a consequential remedy?

Covers indirect losses due to breach (e.g., rush shipping fees).

What is specific performance?

Court orders completion of the contract (e.g., rare goods or real estate).

What is a nominal remedy?

Small amount awarded when breach occurs with no financial harm.

When are punitive damages awarded in contract law?

Only if the breach involves fraud.

How do remedies differ under traditional law vs UCC?

Traditional allows one remedy; UCC allows multiple (cumulative) remedies.

Which contracts must be in writing under the Statute of Frauds?

Real estate, goods ≥ $500, contracts lasting > 1 year.

What does the UCC govern?

Sale of goods (movable items).

What is the essential term required in UCC contracts?

Quantity must be specified.

What is the Perfect Tender Rule?

Goods must conform exactly to the contract.

What is the Implied Warranty of Merchantability?

Goods must work as intended.

What standard is expected among merchants under UCC?

Good faith and fair dealing.

What is privity of contract?

Only parties to a contract can enforce its terms.

What is a condition precedent?

Condition that must be met before a contract exists (e.g., must catch fish).

What is an unconscionable contract?

Grossly unfair or one-sided contract.

What is a contract under duress?

An involuntary agreement, unenforceable by law.

What is delegation of duties?

Transfer of responsibility, but original party remains liable.

What is real property?

Land and anything affixed to it (e.g., buildings, fixtures).

What is Fee Simple ownership?

Full legal ownership of real property.

What is Joint Tenancy?

Right of survivorship—surviving owner gets full ownership.

What is Tenancy in Common?

No survivorship—share goes to heirs or designees.

What is adverse possession?

Claiming land through open, continuous use & paying taxes (5 yrs in CA).

What is an easement?

Legal right to use another's land (e.g., for utility access).

What is employment at-will?

Can be fired or quit at any time, unless for illegal reasons.

What is wrongful termination?

Fired for discriminatory or illegal reason—grounds for lawsuit.

What is constructive discharge?

Quitting due to intolerable conditions—may still sue.

What does Title VII prohibit discrimination based on?

Race, sex, religion, color, and national origin.

What is required under the ADA?

Employers must provide reasonable accommodation unless undue hardship.

What is fraudulent misrepresentation?

Knowingly making false statements to induce agreement.

What are the elements of fraud?

Misrepresentation of fact, knowledge of falsity, reliance, intent to induce, damages.

Can international contracts be enforced without a treaty?

No—treaties or agreements are required for enforcement.

Why might a fraudster not be returned to the U.S.?

No extradition treaty with the country they fled to.