Legl 2700 Roessing Exam 2 Latest Questions And Verified Answers

Indefiniteness {Ans: When the terms of an agreement are not sufficiently specific, the agreement does not rise to the level of a contract}Brooks v. Van Horn (2015) {Ans: Seller claimed no snakes in house, but snakes found Claimed punitive damages (intentional fraud) Received compensation}Wood v. Boynton (1885) {Ans: Selling of valuable stone that turned out to be a diamond is mistake of value Since diamonds are valuable stones, contract was NOT void}Voidable Contract {Ans: Capable of being declared a nullity, though otherwise valid Party taken advantage of can avoid contract; other party cannot}Valid Contract {Ans: A contract that contains all of the proper elements of a contract}"Force Majeure" {Ans: Act of God (War, terrorism, fire, flood) (Type of Release to a contract)}