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Defining and Understanding Of Contract Terms

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1. What is social contract theory
2. What is rational ethics
3. What are the arguments supporting social responsibility
4. How does the principle of stare decisis provide stability to our legal system
5. What is the role of statutory law in the legal system.
6. What is the difference between a tort and a crime
7. What remedies are available in tort law
8. What is the nature of privity in contract law
9. What is the difference between an express and an implied contract
10. What is the difference between the acceptance of an offer in a unilaterial contract and the acceptance of an offer in a bilaterial contract
11. What is mutual assent
12. What 5 elements must be proved to establish that contract is defective because of fraud
13. What is the nature of physical and emotional duress
14. What is the general definition of capacity to contract
15. What is the legal effect of contracts made by persons who are intoxicated or drugged
16. Can a promise not to sue be consideration
17. What are the possibilities when a disputed amount occurs in contract law
18. What is the rationale behind usury laws
19. What abuses did the statute of frauds attempt to eliminate.
20. What is the best evidence rule

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1. What is social contract theory
http://www.politicalphilosophy.info/socialcontracttheory.html

2. What is rational ethics
Rational ethics refer as a system that allows you to choose between different values by a method of comparison. The key to rational ethics is to have a single standard of value. A standard of value is just a standard of evaluation that you use to weigh the different possible values. It has to be something that every possible value can be weighed against, and so you can pick between them. Different systems of ethics will have different standards by which they make the comparisons, leading to different results.
http://objectivism101.com/Lectures/Lecture31.shtml

3. What are the arguments supporting social responsibility
One argument supporting social responsibility suggests that business can create a favorable public image by pursuing social goals.

4. How does the principle of stare decisis provide stability to our legal system
http://www.nonpublication.com/bullet/stare.html

5. What is the role of statutory law in the legal system.
Statutory laws are those made by the government of a country. There are several reasons to issue these types of law: to meet citizens needs, to formalize existing law or resolve an outstanding issue that the courts refer to the government. The government has a clear role in determining the laws and punishments that are appropriate for their country.
http://www.wisegeek.com/what-is-the-difference-between-common-law-and-statutory-law.htm

6. What is the difference between a tort and a crime
http://torts.uslegal.com/tort-vs-crime/

7. What remedies are available in tort law
Remedies for tortious acts include money damages and injunctions (court orders compelling or forbidding particular conduct). Tortfeasors are subject to neither fine nor incarceration in civil court.
http://legal-dictionary.thefreedictionary.com/Tort+Law

8. What is the nature of privity in contract law
The doctrine of privity of ...

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Contract Law - Definitions and Explanations

1. Explain the difference between law and morals.

2. Explain the difference between situational ethics and rational ethics.

3. Identify the two parts of the U.S. Constitution.

4. Define the Uniform Commercial Code (UCC).

5. Define the purpose of Tort law.

6. Define the term "contract."

7. Identify the five elements of the formalist theory of contract law.

8. Explain the difference between an express and an implied contract.

9. Match the term with its definition: Offer, Acceptance, Counteroffer, Mirror Image Rule, Implied Acceptance.

10. Explain the difference between fraud and misrepresentation.

11. Define the term "undue influence."

12. Define the term "capacity."

13. Define the term "consideration."

14. Identify the types of consideration.

15. Define the Statute of Frauds

16. The six contracts that the Statue of Frauds requires to be in writing.

17. Define the nature of agency.

18. Responsibility of the principal for the agent's act when the agent performs duties with a third party.

19. The range of activities for which the servant is engaged.

20. Define the standard concerning criminal liability in the principal / agent relationship.

21. Identify the six ways an agency relationship may be created.

22. Explain the differences between express, implied, and apparent authority.

23. Define the term "vicarious liability."

24. Identify the obligations of the agent to the principal.

25. Identify the obligations of the principal to the agent.

26. Match the term with its definition: Fulfillment of purpose, Mutual Agreement, Revocation/Renunciation.

27. Explain the difference between assignment and delegation.

28. Explain the difference between complete and substantial performance.

29. Define the term "goods."

30. Identify the element that the Uniform Commercial Code (UCC) obligates to every imposed contract or duty.

31. Define the Convention on Contracts for the International Sale of Goods.

32. Determine if goods must be identified to the contract before title can be transferred to the buyer.

33. Define the Document of title.

34. Define the term "commercial unit."

35. Define the term "anticipatory breach."

36. Identify the types of warranty protection.

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