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Business law test 2 flashcards | Quizlet - Business law...

  • De Anza College
  • BUS BUS18
  • Test Prep
  • hannie
  • 12
  • 82% (11) 9 out of 11 people found this document helpful

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11/14/14 10:19 PMBusiness law test 2 flashcards | QuizletReady to study?Start with FlashcardsBusiness law test 299 terms byCodesixx6One purpose of contract law is to make
Page 1 of 12courts, it is because there is NOT anenforceable 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 toform an enforceablecontract.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 inexchange for Rick's promise to pay $5 perbox. Lucy delivers the candy. Rick pays forthe goods. This contract is fully executory.Upon the recommendation of a friend, Hope
hires Joey to rewire her kitchen and hecompletes the work within the time agreed.Then Hope finds out that Joey is not alicensed electrician, and she refuses to payhim for the work. A court will enforce theagreement because otherwise Hope wouldbe unjustly enriched.When promissory estoppel is used by the
11/14/14 10:19 PMBusiness law test 2 flashcards | QuizletUnder a contract, Danielle is required to
Page 2 of 12meeting of the minds, the courts look to howa reasonable person would objectively viewthe language or actions of the parties.Vern Valve Company makes valves forplumbing fixtures. At the beginning of theyear, it sends out a price list addressing eachone, "To our valued customers." Honest
make a set of draperies out of fabric chosenby the homeowners, the Flynns. AfterDanielle makes the draperies according tothe contract requirements, her duties underthe contract are discharged.Alex promises to pay $100 to anyone who
finds his lost watch. Kate finds and returnsthe watch to Alex after hearing of the rewardmoney. Alex and Kate have an enforceableunilateral contract.When Olga asks Sven if he wishes to sell his
Harley motorcycle, he replies that he wouldnot sell it "for less than $2,000. "Olgareplies, "I accept," and hands him $2,000. Acontract exists.Revocation is the withdrawal of an offer by
the offeror.In seeking to ascertain whether there is a

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Term
Fall
Professor
Gough
Tags
Business Law, Business Law Test

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