study guide 2 Essay examples

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Seventeen-and-a- Half Anne puts a sign on her tree house that says, “For Sale, $500.” The sign is an ___________________, which is defines as ______________________________________________________________________________________________________________________________________________________________________________________________

Bob sees the sign and says to Anne, “Ill give you $450 for the tree house,” Bob has now made an ___________________in which Anne is the ______________________________________

What two additional steps will be needed before anne and bob can form a contract for the sale of the tree house? ___________________________________________________________________________________________________________________________________________________________________________

Which specific statute of frauds dictates that this particular contact will have to be writing? _____________________________________________________________________________________
_______________________________________________________________________________________________

Anne says, “I wont take $450, but ill sell you the tree house for $480 if we can agree on the other terms in the contract. Anne has just exercised her power of ___________________ and made a ___________________. Anne is now the ______________________________________

Since Anne is on 17 and a half, this contract will be a ___________________ contract. What does this mean for Anne_____________________________________________________________
__________________________________________________________________________________________________________________

one of the terms in the contract states, “Seller confirms that three house is available to buyer for the purpose of inspection provided that buyer inspects during daylight hours.” The first half of that sentence is a ___________________ and is defined as___________________ ___________________ ___________________ ___________________ the second half is a ___________________

anne and bob write out all the terms that they want in the contract. Since this is a written contract, anna and bob know that the ___________________ rule says that a court would not even consider any oral terms that might be discussed.

Anne and Bob agree to terms and exchange consideration. The contract now creates ___________________ and ___________________ for each party. If either party were to fail to fulfill the second the second of those things, that party would breach the contract.

The other party would then be called the ___________________ party and could ask a curt for a remedy. That does a remedy do? ______________________________________________________________________________________________________________________________________________________________________________________________

Anne and bob agree to terms, one of which states that bob will pay Anne for the tree house in nine monthly installments of $1000 each, commencing one month after signing the contract. Bob and Anne sign the contract on October 10, 2012, and Anne give Bob 1 dollar at that time. On November 10, 2012, bob gives Anne $1000. The one dollar is ___________________, and it ___________________ the contract. The one thousand dollars is part of _________________________________________________________

Bob continues to make payments until the end of 2012. He then meets a girl at New Years party who likes bob but hates his car. Being 17 and a half he immediately vows to dump the car. Bob calls Anne and says that he wants to ___________________ the contract to buy the car.
What must bob now do? ___________________________________________________________________
What must Anne now do? ___________________________________________________________________

If bob had instead decided to dump the girl and keep making car payments after he turned 18, bob would have ______________________________________ the contract.

Now bob is 18 if he does not make his
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