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45 Cards in this Set
- Front
- Back
What is Illegality?
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If the enforcement of a an agreement would create a threat to a public policy, a court may determine that it is illegal.
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What are the Three Main Categories of Illegality?
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1. Violates puble policy set by Courts.
2. Violates Statue. 3. Unconscionable Contract or Contract of Adhesion. |
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Straub V. BMT.. Why did the court find this contract void and illegal and did the court hold the father responsible in the end?
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It was void because no one can deny a child's support benefits and he was held responsible.
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What is Regulartory?
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Purpose is to proctect individuals from dishonest or incompetent practitioners.
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What is revenue-raising?
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an agreement to pay a person for performing an act for which she is not licensed will generally be enforced.
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Which will cause a contract to be unforceable Regulatory or Revenue-Rasining?
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Regulatory.
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Was Riggs v. Woman to Woman P.C. a standard appellate case or a certified question case?
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Appellate case.
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What type of statute did the court decide: Regulatory or Revenue-Raising?
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Revenue-Raising
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Non-Compete Clauses have Three Elements.
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1.Legitimate Business Purpose.
2. Reasonable Restriction in Time, Place, and Scope. 3. No undue hardships on the party charged. |
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The definition of Contract of Adhesion?
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In which a stronger party is able to determine the terms of a contract, leaving the weaker party no practical choice but to add here terms.
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The two types of Unconscionability?
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Procedural and Substantive.
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The difference between the two?
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Procedural has more power than the other and Substantive is harsher.
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Oral contract are generally enforceable as long as you can..
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Prove it.
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Why does Statue of Frauds exists?
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So, people wouldn't be able to lie about contracts.
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The types of Contracts covered by Statute of Frauds
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Applies to bilateral contracts, executory contracts, and land sales contracts.
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The two exceptions to where Statue of Frauds does not apply?
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Full performance of the seller or buyer. Partial Performance
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Contracts for the sale of goods over 500?
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They don't have to be in writing and both parties have to be merchants.
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Contracts in the sale of land must be in ...
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Writing
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Contracts cannot be performed in...
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One year's time.
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If a contract is performed in the one year rule then SOF does not apply why?
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Because the deed has been done and the other person has to pay too.
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The parol evidence rule?
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a written contract they intend as a complete integration. Meaning what is on the paper matters. Applies to written contract.
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Watkins v. Iams Co... why the court held the prior oral agreement between the parties unenforceable?
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because it was not a written agreement.
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Exceptions to Parol Evidence Rule
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1. Partially Integrated Contracts.
2. Ambiguities in a contract. 3. Subsequent Agreeement 4. Conditions in the contract. 5. Invalidity. |
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Assignment is
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Equal Rights. There is no specific language needed to create an assignment or consideration.
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Delegation is
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People's duty. There is no specific language needed to create an delagation or consideration.
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Reasons for Assignment of rights is
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Paying of Debts and Finacing.
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Reasons against Assignment of Rights
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1. Violates Public Policy
2. Adversely Affect on the Obligor. 3.Personal services contracts |
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Anti-Assignment Clauses are..
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Generaly enforcable but constructed narrowly. UCC contracts only prohibit the delegation of duties under Anti- Assingment Clauses.
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Delegation of Duties
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party delegating duties under a contract still liable for performances after delegation unless there is a novation
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Novation defined
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a particular type of Substituted contract in which the obligee agress to discharge the original obligor and to substitute a new obligor in his place.
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Third Party Beneficiaries..main types?
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Inteneded benificaries are either Creditor Beneficiaries and Donee Beneficiareis. Incidental Beneficiary
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Incidental Beneficiary is...
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when the benefit derived by that third party was merely an unintended by-product of a contract that was created for the benifit of those who were parties to it.
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Performance of a contract is...
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when both parties uphold their part
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Strict Performance is
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a standard performance that requires virtually perfect compliance with terms.
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Substantial Performance is
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lower standard for duties that are difficult to perform.
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Condition precedent is
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a future, uncertain event that creates the duty to perform.
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Concurrent Conditon is
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When the contract calls are parties to perform at the same time.
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Material Breach of contract
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is when a contract has been breached when a partys performance falls below the other partys standards
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Anticipatory breach
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occurs before the contract starts.
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Anticipatory Repudiation
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is when one party says they will not perform.
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Impossibility of performance is when
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no one can perform the stated contract. like death of a promisor or destruciton of a contract subject matter.
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Bush V. Pro Travel International
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shows impossiblity. like blizzard.
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General Remedies are ?
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Damages or Equitable Remedies
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Equitable Remeidies have
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Injunction and Declartory Relief
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Damages recovery have
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reasonable certaninty required..forseeable at time contract was made.
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