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Bar Exam: Contracts & Torts

100 cards · 🇺🇸 English

Essential concepts and rules for Contracts and Torts on the Bar Examination

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What is required for a valid offer in contract law?

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  1. 1What is required for a valid offer in contract law?
    Definite and certain terms communicated to the offeree, manifesting present contractual intent
  2. 2What is the mailbox rule?
    Acceptance is effective when dispatched, not when received, unless the offer specifies otherwise
  3. 3What is consideration?
    A bargained-for exchange of legal value; something of value given in exchange for a promise
  4. 4What is promissory estoppel?
    Enforces a promise without consideration if: (1) promise, (2) foreseeable reliance, (3) actual reliance, (4) injustice avoided only by enforcement
  5. 5What is the Statute of Frauds?
    Certain contracts must be in writing to be enforceable: marriage, suretyship, land, year+, goods $500+
  6. 6What is the parol evidence rule?
    A fully integrated written agreement cannot be contradicted or supplemented by prior or contemporaneous oral or written agreements
  7. 7What is substantial performance?
    Performance that, despite minor deviations, achieves the essential purpose of the contract
  8. 8What is anticipatory repudiation?
    An unequivocal statement or action by a party indicating they will not perform their contractual obligations before performance is due
  9. 9What is the difference between a condition precedent and condition subsequent?
    Precedent must occur before performance is due; subsequent excuses performance after it arises
  10. 10What is the perfect tender rule in UCC?
    Seller must deliver goods that conform exactly to the contract; buyer may reject any non-conforming goods
  11. 11What is a unilateral contract?
    A contract where one party makes a promise in exchange for the other party's performance (not a promise)
  12. 12What is a bilateral contract?
    A contract where both parties exchange mutual promises
  13. 13What is the mirror image rule?
    Acceptance must match the offer exactly; any variation is a rejection and counteroffer (common law)
  14. 14What is the UCC's battle of the forms rule?
    UCC 2-207: acceptance with additional terms forms contract; additional terms become proposals (between merchants, may become part of contract unless material)
  15. 15What is novation?
    Agreement among all parties to substitute a new party for an original party to a contract, releasing the original party
  16. 16What is accord and satisfaction?
    Accord: new agreement to accept different performance; Satisfaction: actual performance of the accord, discharging the original duty
  17. 17What is impossibility of performance?
    Objective impossibility (performance cannot be done by anyone) excuses performance; subjective impossibility does not
  18. 18What is commercial impracticability?
    Performance remains possible but would be extremely burdensome due to unforeseen circumstances, excusing performance under UCC
  19. 19What is frustration of purpose?
    Supervening event destroys the purpose of the contract, excusing performance when both parties knew of the purpose
  20. 20What are liquidated damages?
    Damages agreed upon in advance that are reasonable and proportionate to anticipated harm; enforceable if actual damages are difficult to ascertain
  21. 21What is the difference between compensatory and consequential damages?
    Compensatory: direct losses from breach; Consequential: indirect losses (lost profits) if foreseeable at contract formation
  22. 22What is the expectation measure of damages?
    Puts the non-breaching party in the position they would have been in had the contract been performed
  23. 23What is reliance damages?
    Compensates for expenses incurred in reasonable reliance on the contract
  24. 24What is restitution in contracts?
    Prevents unjust enrichment by restoring the value conferred on the breaching party
  25. 25What is specific performance?
    Equitable remedy requiring actual performance of contract obligations; available when legal damages are inadequate (e.g., unique goods, land)
  26. 26When is a minor's contract voidable?
    Contracts by minors are generally voidable at the minor's option, except for necessaries (food, clothing, shelter)
  27. 27What is the doctrine of unconscionability?
    A contract so unfair and one-sided that it shocks the conscience; requires procedural (unfair bargaining) and substantive (unfair terms) unconscionability
  28. 28What is a requirements contract?
    Buyer agrees to purchase all requirements of a particular good from seller; must be in good faith and reasonable
  29. 29What is an output contract?
    Seller agrees to sell all output of particular goods to buyer; must be in good faith and reasonable
  30. 30What is the duty to mitigate damages?
    Non-breaching party must take reasonable steps to minimize losses; cannot recover for avoidable damages

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