Chapter 12 slides (after Exam 2)

Chapter 12 slides (after Exam 2) - Promissory estoppel is...

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Unformatted text preview: Promissory estoppel is an available remedy: I f t h e p a r t i e s . . . O n l y i f t h e p a . . . 22% 78% 1. If the parties do not have a valid contract, but a promise has been justifiably relied upon 2. Only if the parties have a valid contract Jennifer asks for Kellen Moores autograph. She doesnt tell him that hes signing an agreement to allow her to use his photograph for an ad for her business. T h i s c o n t r a c t . . . T h i s c o n t r a c t . . . 58% 42% 1. This contract is void because of fraud in the execution 2. This contract is voidable because of fraud in the inducement Contracts entered into because of mutual mistake about the subject matter of the contract are voidable. T r u e F a l s e 23% 77% 1. True 2. False Voluntary Consent Duress ( already covered ) Undue influence ( already covered ) Fraud Fraud in the execution Fraud in the inducement Mistake Unilateral Mutual (bilateral) The Statute of Frauds means that: C o n t r a c t s e n t e . . . S o m e c o n t r a c t s . . . E a c h o f t h e a b . . . 0% 100% 0% 1. Contracts entered into because of fraud are voidable 2. Some contracts have to be in writing or they are not enforceable 3. Each of the above The Statute of Frauds HAS NOTHING TO DO WITH FRAUD It means that some contracts have to be in writing! Which ones? Sale of real property Goods over $500 Contemplation of marriage Answer for anothers debt (suretyship) Cannot possibly be performed within one year Oral testimony in court about the terms of a written contract refers to: P a r o l e e v i d e n c e P a r o l e v i d e n c e T h e S t a t u t e o f F r a u d s 0% 0% 0% 1. Parole evidence 2. Parol evidence 3. The Statute of Frauds 5 May Jim assign his right to receive $1000 to his brother Sam?...
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This note was uploaded on 03/07/2012 for the course GEN BUS 202 taught by Professor Parks during the Fall '11 term at Boise State.

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Chapter 12 slides (after Exam 2) - Promissory estoppel is...

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