Business matters more predictable

  • DeAnza College
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  • hannie
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11/14/14 10:19 PM Business law test 2 flashcards | Quizlet Ready to study? Start with Flashcards Business law test 2 99 terms by Codesixx6 One purpose of contract law is to make
Page 1 of 12 courts, it is because there is NOT an enforceable contract present.
business matters more predictable. The elements of a contract are agreement,
consideration, legality, and capacity. Robert offers to buy a car from Jane for
$400. Jane must accept this offer in order to form an enforceable contract. A valid contract can legally be voided by
either party. Lucy and Rick sign a contract in which Lucy
agrees to deliver 10 boxes of chocolates in exchange for Rick's promise to pay $5 per box. Lucy delivers the candy. Rick pays for the goods. This contract is fully executory. Upon the recommendation of a friend, Hope
hires Joey to rewire her kitchen and he completes the work within the time agreed. Then Hope finds out that Joey is not a licensed electrician, and she refuses to pay him for the work. A court will enforce the agreement because otherwise Hope would be unjustly enriched. When promissory estoppel is used by the
11/14/14 10:19 PM Business law test 2 flashcards | Quizlet Under a contract, Danielle is required to
Page 2 of 12 meeting of the minds, the courts look to how a reasonable person would objectively view the language or actions of the parties. Vern Valve Company makes valves for plumbing fixtures. At the beginning of the year, it sends out a price list addressing each one, "To our valued customers." Honest
make a set of draperies out of fabric chosen by the homeowners, the Flynns. After Danielle makes the draperies according to the contract requirements, her duties under the contract are discharged. Alex promises to pay $100 to anyone who
finds his lost watch. Kate finds and returns the watch to Alex after hearing of the reward money. Alex and Kate have an enforceable unilateral contract. When Olga asks Sven if he wishes to sell his
Harley motorcycle, he replies that he would not sell it "for less than $2,000. "Olga replies, "I accept," and hands him $2,000. A contract exists. Revocation is the withdrawal of an offer by
the offeror. In seeking to ascertain whether there is a

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