Property Management, Inc. (PMI), presents a standard-form le…

Property Management, Inc. (PMI), presents a standard-form lease for an apartment to Quentin, a potential tenant. PMI offers it on a take-it-or-leave-it basis. Quentin signs it without the opportunity to negotiate any terms. This is an example of (a)(an) _______________.

County Title Company processes information furnished by othe…

County Title Company processes information furnished by others to transfer title to real estate from a seller to a buyer. In performing this task for a sale of land from Doyle to Ezra, the furnished title information is incorrect. The contract between Doyle and Ezra that includes the incorrect title information may be rescinded if the mistake involves

Don and Evon orally agree on the sale of Don’s Electrical Su…

Don and Evon orally agree on the sale of Don’s Electrical Supplies Company to Evon and jot down the terms on the back of one of Don’s blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Bill offers to buy Pete’s chainsaw for $400. Pete replies, “…

Bill offers to buy Pete’s chainsaw for $400. Pete replies, “You cheapskate, if you gave me $500 I would sell it to you, but not $400.” Bill says $500 is too much and is not willing to pay that. Two weeks later, Pete calls Bill and says “I accept your offer of $400.” Bill and Pete have created:

Building Restoration, Inc. (BRI), enters into a contract to…

Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, and only a minor portion is left undone through no fault of their own, BRI’s performance will likely be considered _____________, and Casual Dining, Inc. will continue being bound by the contract and be able to get damages for the incomplete portion of work.

Don and Evon orally agree on the sale of Don’s Electrical Su…

Don and Evon orally agree on the sale of Don’s Electrical Supplies Company to Evon and jot down the terms on the back of one of Don’s blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Ski Mountain Resort, Inc, has a liability waiver on the back…

Ski Mountain Resort, Inc, has a liability waiver on the back of their ticket that states: “By skiing here you assume the risks inherent in skiing and cannot hold the resort liable for any injuries sustained while skiing here.” The Akin family spends the day skiing and their daughter goes off cliff and is severely injured. At that same time the father got into an argument with an on duty ski patrolman and the patrolman struck him in the face with a ski, which caused significant injuries. When the Akin family sues Ski Mountain Resort for their injuries, the likely outcome will be

Dix agrees to sell Eli a remote parcel of land for $1,500 pe…

Dix agrees to sell Eli a remote parcel of land for $1,500 per acre. Dix thinks the land is worthless, but Eli thinks there may be oil under the property, and if so, it would be worth $20,000 per acre. It turns out that Dix is mistaken and there is shale rock containing oil under the property. Once discovered, Dix files suit to have the contract rescinded because the difference in value was so great, as well as the contract did not have the legal description of the property. Dix responds with the fact that the contract did not have the description, but the deed executed at the same time did, and it was attached to the contract. A court would likely