Chapter 8
Questions
- Under the Objective Theory of Contracts, what are the three Objective Facts that a judge or reasonable persons judge against, when establishing whether a legally binding contract has been formed? Explain.
- Outline and briefly describe the four elements or requirements of a legally valid contract.
- Identify and describe the different types of contracts in each of the following three categories, Contract Formation, Contract Performance and Contract Enforceability.
- Explain a Quasi Contract.
- Define and thoroughly explain the two sub-elements under the element of Agreement (Offer and Acceptance), and outline explain the sub-elements under each. In other words, what constitutes an “Offer” and an “Acceptance”? This is the heart of an Agreement between two or more parties. Take your time in answering this question and be thorough.
- In an E-Contract, what are the similarities and differences between an Online Offer and an Online Acceptance to a regular contract Offer and Acceptance?
- Explain “Consideration”, the second element of a valid contract.
- Under Consideration, what constitutes Legally Sufficient Value and Bargain-for Exchange?
- Explain the Doctrine of Promissory Estoppel. Chapter 9
- Thoroughly explain Contractual Capacity, include the elements of Minors, Intoxicated Persons and Mentally Incompetent Persons.
- Thoroughly explain Legality, include the categories of Contracts Contrary to Statute, Contracts Contrary to Public Policy, and Effects of Illegality.
- Briefly explain Voluntary Consent and explain what happens to a contract when voluntary consent (assent) may be lacking.
14. Briefly Explain Assignments and Delegations. 15. Briefly explain Third Party Beneficiaries. 16. Brierly explain the four broad categories of Damages. 17. Briefly explain Contract Discharge per the five categories of Exhibit 10-3. 18. Explain equitable remedies. Section 10-5.