Contracts Formation & Enforcement Flashcards
7 cards from real FYLSX practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Contracts Formation & Enforcement flashcards as text
Which of the following best describes a 'quasi-contract'?
Answer: A remedy imposed by law to prevent unjust enrichment where no contract exists
A quasi-contract is not a true contract but a legal fiction imposed by courts to prevent unjust enrichment when one party confers a benefit on another without a contractual basis.
Carol signs a contract under a reasonable, mistaken belief that it was a receipt. This is an example of:
Answer: Fraud in the execution
Fraud in the execution (factum) occurs when a party is deceived about the very nature of the document signed, making the contract void.
Under the FYLSX, which contract must be in writing to be enforceable under the Statute of Frauds?
Answer: A promise by an executor to pay estate debts from personal funds
A promise by an executor to pay the decedent's debts from the executor's own funds is one of the classic Statute of Frauds categories (the 'suretyship' provision for personal liability).
Two parties enter a contract with a mutual misunderstanding about a key term, each meaning something different. Under contract law, the result is most likely:
Answer: No contract is formed due to lack of mutual assent.
Under the Raffles v. Wichelhaus principle, when parties attach materially different meanings to a key term and neither knows of the other's meaning, no contract is formed.
An agreement to refrain from filing a lawsuit in exchange for a payment is enforceable if:
Answer: The claim being waived is valid or the claimant has a good-faith belief it is valid.
Forbearance from asserting a legal claim constitutes good consideration if the claim is valid or the party has an honest, reasonable belief that it is valid.
Which of the following constitutes a counteroffer under the mirror image rule?
Answer: An acceptance that adds a new material term
Under the mirror image rule, an acceptance that adds or changes a material term operates as a rejection and counteroffer, not an acceptance.
Pam hires a contractor to renovate her kitchen for $20,000. The contractor finishes 90% of the work but walks off the job. Pam can withhold the entire $20,000 under which doctrine?
Answer: The substantial performance doctrine
Under the substantial performance doctrine for service contracts, near-complete performance entitles the contractor to the contract price minus damages for the incomplete work—Pam cannot withhold the entire amount.