Chapter 12-13 Business Law

Assault and battery always are committed together.

The doctrine of substantial performance is often applied to construction contracts.

Most contracts end by _________________.

A(n) ___________________ contract is one that can be understood in a variety of ways & might have different interpreted meanings.

Generally, all car deals over $5oo should be done with a written contract.

When both parties to a contract agree to terminate the contract, there is ________________.

Fulfilling all terms of a contract properly and totally is called _________.

When a contract ends, it is said to be ______________.

Handwritten notes in a contract generally take precedence over the typewritten language that it changes.

Money that the law recognizes as payment of a debt is called ______________.

Joe Smith promises to buy a lot from Frank Howard based on the contingency that he sells his house. Smith gets his house sold, but then Howard refuses to sell him a lot because he can get more money from Lenny Diptham. ___________________ may force Howard to sell the lot to Smith.

Bankruptcy law is handled in _____________________.

If you promise to pay the debts of others orally, you are bound to this oral contract.

You have the right to sue a person who breaches a contract made with you.

The law that indicates contracts must be in writing is called the ________________.

Parol evidence takes precedence over a written contract.

The normal statute of limitations in most states is _________ years when it comes to civil (tort) cases.

Items that can be bought, traded or moved are sometimes called _______________.

Educational loans can ordinarily be discharged if bankruptcy is filed during the first five years of the repayment period.

People who are imprisoned and lose the right to contract are said to suffer ________________.

A written contract not done on a computer is not enforceable.

When a business is told they have to pay 'protection money' to a local band of outlaws to keep their business from being burned down, this is called ________________.

An existing contract can't be satisfied by substituting one contract for another.

The court will not rule on when a contract must be completed if time for performance is unspecified.

Land and anything permanently attached to it is called ________.

Rule that states oral evidence made before the written contract is not admissible in a court of law is called _________________ (no hearsay).

A written contract is called a ______________________.

The 'clock' on the statute of limitations on contracts often stops while a person is imprisoned.

The most guiding influence on US law is the __________________.

All important contracts should be in writing.

If an oral contract is made for work to be done over a '3' year period, it is enforceable by law.

The destruction of the subject matter of a contract discharges that contract.

A(n) __________________ is a contract that is not yet fully performed.

If you are of majority age, sound mind and no fraud exists, you are generally bound by the wording of a contract that you sign.

A contract is ___________ when its performance becomes illegal.

Wrongful failure to perform one or more promises of a contract is called ___________________.

Ending a contract by mutual release is a non-binding agreement.

An example of a white collar crime would include _______________.

Wrongful acts of one party may discharge a contract by _______________.

The law that specifies the length of time for bringing a legal action is called the __________________.

The exception to the rule that when property is sold, it must include a written contract is called __________________.

The reasonable person test may be used for a contract that is to be performed to one party's satisfaction.

An offer to do what you have agreed to do under a contract is called _________________.

A contract that has not been fully performed is known as a _____________ contract.

A unilateral mistake is a mistake made by both parties of the contract.

Under the doctrine __________________, when someone fulfills the majority requirements of a contract, leaving only minor details unfinished, the contract is completed.

All real estate transactions should be in writing.

A substitution of one contract for another is called _____________.

Making false statements under oath is called ____________.

Illness or death of a party to a contract is always a valid reason for nonperformance.