Individual Work Contract Law Review Paper

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| Week 2 Individual Work Contract Law | Nicole Mizelle | | Everest University Online CCI | 4/29/2014 | | Review Questions 1-10 from page 24 1. Define the concepts of precedent and stare decisis. 2. What is the common law? 3. Who developed the Restatement of Contracts and why? 4. What is the Universal Commercial Code and what distinguishes it from common law? 5. How many articles are presently included in the UCC and which article is devoted to the law of sales? 6. What is one of the federal consumer-based statutes, and why are consumer protection statutes important in to the law of contracts? 7. List the technology based laws that govern e-commerce and what type of changes these statutes brought…show more content…
What is a legal treatise and which two are the most noteworthy in contract law? 9. Identify resources that will assist in finding the law in both your jurisdiction or another state. Explain how each resource will assist in preparing an assignment or project for your supervising attorney. 10. Name three online sources that will assist you in finding federal cases in your jurisdiction and federal statutes. Review Questions 1,3,4,5 & 7 on page 46-47 1.State the definition of a contract. 3. What is the difference between an offeror and an offeree? Promisor and promisee? 4. List the components of a contract. 5. What statute determines whether a contract needs to be in writing? 7. What is an implied in fact contract? Distinguish it from a quasi contract. Review Questions 1-10 on page 74 1. What is an offer? 2. What elements must an offer include to be valid? 3. Are advertisements offers? Why or why not? 4. Distinguish between an offer and a solicitation. 5. Define acceptance. 6. How can acceptance be communicated to the offeror/ 7. Define the mailbox rule? 8. What is the mirror image…show more content…
An implied in fact contract is a contract in which the law infers from the circumstances, conduct, acts, or relationship of the parties rather than from their spoken word. The quasi contract focuses on the need for fairness whereas an implied in fact contract focuses on the fact that it was spoken before any words were spoken. Answers to Review Questions 1-10 on Page 74 1. An offer is a proposal to enter into a contract upon specified terms. A proposal is an offer if it is made in such a way that the person to whom it is made has only to accept it to bring the contract into existence. 2. The three requirements of a valid offer state that both parties must hold a genuine interest in the contract, both parties must be set out and adhered to in full. Along with those conditions, it is also important that both parties voluntarily enter into the agreement. Failure to meet the required elements nullifies the contract. 3. Generally advertisements to the public related to the sale of merchandise at a specified price are not considered offers to enter a binding contract. Rather they are invitations to make a deal. 4. An offer is just that an invitation to consider something and a solicitation is an invitation to negotiate a

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