Contracts

Question 1

advertisements

Answer 1

not an offer only invite to trade

Question 2

consideration to form a contract

Answer 2

must be legally sufficient(legal value and bargained for)

Question 3

offer upon death

Answer 3

unless irrevocable, terminates upon death of offereor

Question 4

modification for contract for services

Answer 4

must have addtl consideration

Question 5

Parole evidence rule

Answer 5

prohibits testimony about agreements that existed before a contract was signed, after it was signed is admissable

Question 6

fraud in indcuement

Answer 6

makes contract voidable

Question 7

exception to one year rule for statute of frauds

Answer 7

full performance

Question 8

oral modification of contract under $500

Answer 8

is OK