1. What makes a contract "legally enforceable" is that the non-breaching party may use the court system to recover for damages received or to pursue another remedy. 2. Advertisements for the sale of goods are generally treated as invitations to make an offer. 3. Tiny is freaking out! His dog, Whiny, has lost his favorite chew toy. Tiny posts signs all around the neighborhood that say: "LOST - dog's chew toy. $1m if found and provided to me at my house." Tiny includes a picture of the toy and his name and address. Bob, just bumbling down the road, sees the chew toy. Without seeing any of the reward signs, if Bob shows up to Tiny's house with the chew toy, Tiny must give him the reward. 4. Unliquidated damages are agreed upon in advance by the contracting parties in the event of a breach of contract. 5. Bob walks up to Tiny's hot dog stand and requests 1 hot dog. Beavis jumps out of the bushes and puts a gun to Bob's head. "Tell him to make it 2, Bobby!!!!" Beavis shrieks. Bob, scared to death, requests 2 hotdogs. Tiny, who watches the interaction, knows there is no genuine assent. As such, he does not have to tender 2 hotdogs to Bob. 6. A guaranty contract occurs when one person agrees to answer for the debts or duties of another person. 7. A covenant is a conditional promise to perform. 8. Restitution is when items of value and money that have been exchanged are returned after the rescission of a contract. 9. If Tiny presents Bob with a No. 1 from Wendy's and says, "Bob, my brother, you can have this No. 1 for $75", and Bob responds by saying, "you wish, fish! But I'll buy it for $50!", this can be considered a rejection and a counteroffer. 10. An agreement requires an offer by the offeror and a deception by the offeree. 11. Consideration is defined as something of legal value given in exchange for a promise. 12. Beavis promises to buy from Tiny 1 trillion candles that smell like freshly cut grass but only if the candles smell like freshly cut grass. Tiny agrees. Beavis, obsessed with the smell of freshly cut grass, is heart-broken when Tiny arrives at his office with 1 trillion candles that smell like freshly cut glass. "I CANNOT APPROVE! NO SALE!!!" Beavis shouts in agony and disappointment. As this is an example of a sale on approval, it was appropriate for Beavis to refuse acceptance of the candles. 13. A "glossary" is where Tiny, Bob, and Beavis go to purchase meat and produce. 14. The equal dignity rule says that contracts to sell a hot dog for $1, which is covered by the Statute of Frauds, must be in writing to be enforceable. It has nothing to do with agent's contracts to sell property. 15. Bob owns the Wendy's on the corner. Tiny owns the Chick-Fil-A right next door but he wants the Wendy's gone to get rid of the competition. Tiny pays Beavis $42k to burn down the Wendy's. Beavis takes the $42k and heads to Las Vegas, forgetting about their deal. While there, he's served with papers stating he's being sued by Tiny for failing to burn down Bob's Wendy's restaurant. In court, the court will find the $42k to be sufficient consideration to make a valid, enforceable contract. 16. An accommodation is offered to the buyer as a replacement for the original shipment when the original shipment cannot be filled. 17. Mistakes are unintentional. 18. Even though title passes to the buyer at the time and place of shipment, the buyer bears the risk of loss while the goods are shipped by the common carrier. 19. The gap-filling rule is a rule that says an open term can never be "read into" a contract. 20. Beavis is Tiny's son. Tiny does not feed, clothe, or love Beavis. The only shelter he provides for him is the doghouse in the backyard. Beavis decides to permanently leave Tiny's home and set up his own household. The formal recognition of Beavis's actions and status by the courts would be "emancipation". 21. Contractual capacity is defined as the logical quantification or componentry to understand the nurture and affects of one's acts to enter into a hot dog. 22. Tiny loves SpaceX and is moving from Columbia to Mars to join the new colony being established there. As he is packing his car, he leans his original Picasso artwork against his trunk. Bob, watching from the bushes, pounces on the priceless piece of art. He takes it down the street to Beavis, a young man just out for a stroll, minding his own business. "Hey boy, you wanna buy a Picasso? I can provide good title!" Bob is not being honest when he says he has good title. 23. This is a 'true or false' exam. 24. Equity is utilized when money damages cannot solve the legal issue or where issues of fairness are required to avoid an injustice. 25. If Bob says to Beavis and Tiny, "...y'all wanna come over to see my new Winnebago? My grandpappy left it to me and only me after he kicked the bucket and after we probated his estate. I hold title to the Winnebago now, boys! I decorated the interior in crushed-velvet!...", then Bob would be able to provide legal, tangible evidence of ownership of the Winnebago. 26. Specific performance is where the court requires the non-breaching party to perform his or her contractual duties. 27. Beavis and Bob, buddies from the war, are shooting pool at the local billiards establishment. Down to the 8-ball, Bob tells Beavis, "if you make that shot, I'll eat my hat." Beavis sinks the last ball but Bob does not eat his hat. This is an example of an illusory promise. 28. A "mixed sale" involves the provision of a service and a good in the same transaction. 29. In the legal world, an "injunction" means 1 of 2 things: either it's a manner in which medication is introduced to the human body via a needle OR it's another term for taking food, drink or medicine by swallowing something. 30. Tiny builds a home with a swimming pool in the ground in the backyard. Bob comes over and asks Tiny how he paid for the home, which was by a loan and a mortgage from the local bank. But because Tiny has been low on money lately, he sells the pool to Bob. Bob comes over driving a backhoe and rips the pool out of the ground, causing massive damage to everything. But, this is permissible because the swimming pool that was permanently affixed to the property is a "good". 31. Express contracts may be oral or in writing. 32. Beavis is pulled over for drunk driving and subsequently gets locked up and thrown in the slammer. He hires Bob to represent him. While in court, Judge Tiny asks Bob if he has a license to practice law in South Carolina. Bob responds by saying, "no, but I do own a lawnmower." Judge Tiny and the South Carolina Bar will likely have no problem with this and will permit Bob to represent Beavis on the charge of driving under the influence of alcohol (DUI) even though Bob is not a licensed attorney because owning a lawnmower is just as good under the licensing statutes in South Carolina. 33. A consignment is not treated as a sale or return under the UCC. 34. "Fraud" is another word for intentional misrepresentation. 35. "If I give you a ride in my hot air balloon, will you give me a kiss?" Tiny asks his date, Shiny. She pauses to consider his offer. Just then, Bob jumps out of the bushes, shrieks "DEAL!!!", and gives Tiny a big smooch. Tiny is now obligated to give Bob a ride on his hot air balloon. 36. John Reasonable's son, John Quincy Reasonable, has just stated, "the 'reasonable person test' is an objective test (standard) that applies to commercial contracts and contracts involving mechanical fitness, amongst other areas of contract law." He is correct. 37. An extremely intoxicated person is more than likely incompetent and therefore experiences contractual incapacity. 38. Beavis shares a sandwich with Bob. Beavis bites into the sandwich. Unbeknownst to either of them the sandwich contains a sewing needle that stabs Beavis in the roof of his mouth. "Arrrgh!!" He screams. "This is a violation of the implied warranty of fitness for human consumption," Bob responds. He is correct. 39. Monetary damages are damages in the form of hot dogs. 40. The "mirror image rule", which discusses a person looking at his or her reflection in a mirror and deciding to make the world a better place by first changing him or herself, is a hit song from the 1980s by none other than the King of Pop, Michael Jackson. 41. An offer expires at the lapse of time as stated in the offer. If no lapse of time is stated, the offer terminates after a 'reasonable time'. 42. It's probably safe to say that the most important thing that the teacher of this course wants you to know is, in order to have a contract (an agreement between 2 parties for the bargained for exchange of good(s) or service(s) for money, etc.), you must have an offer and then an acceptance, and that the contract must be supported by reasonable and legal consideration. 43. Reformation permits the court to rewrite a contract to express the parties' true intention. 44. In the absence of an agreement, courts are generally forbidden from providing money damages to a plaintiff even in the case where the plaintiff provides the defendant goods or services, thus unjustly enriching the defendant, under the legal theories of quasi-contract and unjust enrichment. 45. An offeree is the party that extends the offer to the offeror to enter into a contract. 46. Bob's brother, Rob, mails Bob a letter offering to sell him a lawnmower for $2 if Bob would just let him know that they have a deal, along with the money. Bob, facing eviction and desperate to find work, is overjoyed by the offer. He immediately places a letter in the mailbox accepting the offer along with a check for $2. Thereafter, Tiny, under the influence of an illicit substance, drives by Bob's house and smashes his mailbox with a baseball bat. The outgoing mail, including the letter to Rob, is forever lost. If Bob tries to bring an action against Rob to enforce the contract, the courts would find that Bob accepted the offer simply by placing the letter that accepted the offer and the $2 in the mailbox. 47. According to the statute of frauds, for a 5-year contract to lease a condo to be valid and enforceable, it must be in writing. 48. Tiny proposes marriage to Shiny with his grandmother's wedding ring. After 2 months of marriage, Shiny tragically falls off a cliff in a hiking accident. Her relatives try to claim the ring as part of her estate. However, Tiny sues her estate in court for the return of the ring. The court will most likely side with Tiny due to the unique nature of the ring and the sentimental attachment to it - that it was his grandmother's and that it was his deceased wif's. 49. The law allows the non-breaching party to 'rack up' as much damage as possible to collect big bucks once that lawsuit payday comes through, putting no responsibility on the non-breaching party to keep damages at a minimum. 50. Void contracts are so powerful it is as if two contracts have been created