an example of which of the following contracts?

Section 25: Louisiana Civil Law System: Obligations and Contracts Flashcards AleatorySaying, "I'll sell you my house if it snows on Christmas," is an example of which of the following contracts?Electronic transmission laws only apply to transactions between parties where each party to the transaction has agreed to conduct it via electronic means.Which of the following statements about electronic transmission of real estate documents is true in Louisiana?- Although the electronic transmission of some documents is allowed in Louisiana, this doesn't include real estate-related documents or contracts.- As of August 23, 2015, Louisiana law requires that all real estate transactions use electronic transmission.- Electronic transmission laws only apply to transactions between parties where each party to the transaction has agreed to conduct it via electronic means.- Only the seller has to consent to the use of electronic transmission and signatures in a real estate sales contract.Real estate contracts must be in writing. Drew and Hank were camping at Hank's riverfront cabin.Hank told Drew that he rarely used the cabin and was thinking of selling it. Drew said that he'd buy it from Hank for $80,000, which Hank agreed was a fair price. It's two months later, and Hank is upset that Drew now says he won't buy it. Why isn't this contract enforceable?Once a counter-offer has been made, the prior offer is negated.Which of the following statements about Louisiana counter-offers is true?- A counter-offer can be retracted only once.- Once a counter-offer has been made, the prior offer is negated.- Only the seller can make a counter-offer.- To be legal, counter-offers must be numbered or lettered and dated.DivorcesIn Louisiana, which of the following types of transactions is excluded from electronic record/signature validity?novationThe rights and obligations of an original party to an existing contract are taken by another party, creating a new contract.CauseThe required elements of a valid Louisiana contract include legal capacity, mutual consent, and ______.Relatively nullGinger enters into a contract with 12-year-old Tommy to sell him her apartment in Lake Charles. What type of contract is this?Relatively nullEllie has early onset Alzheimer's disease that has progressed rapidly. Her handyman, Nick, easily tricks her into agreeing to sell him her mansion along the Mississippi River for $25. What type of contract is this?

Earnest Money Deposit (Contract)A contract in which there is a deposit and the contract states that it's earnest money.AleatoryThe contract's performance depends on an uncertain event.ConfusionLouisiana resident Louis agreed to purchase his best friend Frank's two-story Victorian. A week before closing, Frank died in a car accident, and left his house to Louis in his will.This is an example of ______.DuressJanie's ex-husband threatened to harm her if she didn't sell her house to him at $25,000 below market value. This contract doesn't have mutual consent because of ______.FraudAn intentional false representation of a material fact (by words, conduct, or concealment) An earnest money contractLouisiana seller Jonas made sure that the sales contract included the $4,000 earnest money deposit the buyer would pay. What type of contract is this?CauseThe reason a person enters a contract must be lawful.ObligeeThe person who benefits from the thing promised in a contract ObligationA legal relationship in which a person becomes bound to perform in another person's favor NullThe contract carries no legal force (the performance hasn't been met).a synallagmatic contract.After many years of spats, Louisiana neighbors Fay and

Ralph reach an agreement: Fay agrees not to play her

drums past 10 p.m., and Ralph promises not to let his howling beagles outdoors before 9 a.m. What kind of contract is this?SynallagmaticAbe agrees to sell Barbara his three-bedroom, two-bath ranch-style home for $250,000. What type of contract is this?Specific performanceOne party did not meet the terms of the contract in the specified timeframe, and must now do exactly what was agreed to in the contract.Impossibility of performanceDue to circumstances out of their control, the parties cannot legally or practically do what they've agreed to do.The contract must be written for a legal purpose. A Louisiana real estate contract must be for a lawful objective. What does this mean?SadieMitt tricks 90-year-old Sadie into entering into a contract to buy his property near the bayou, which floods often, for 10 times its appraised value. Which of the parties can rescind the contract?BilateralA Louisiana real estate sales contract is synallagmatic.What's another term for synallagmatic?

Revocable offersCapable of being rescinded at any point before offeree acceptance, even if a deadline for acceptance is included in the offer ErrorBoth parties to a contract are mistaken about the same material fact of the contract

• Mutual consent- Cause- Legal capacityWhich three of the following are the required elements of a

valid Louisiana contract?- Mutual consent- Disclosure- Consideration- Cause- Legal capacity Operation of lawTom Knicks, who was in the process of buying a home, died suddenly before he had a chance to close on the deal.Tom's heirs were required to meet the terms of the contract. This is an example of ______.An obligationIn Louisiana, a legal relationship in which the obligor becomes bound to perform in the obligee's favor is known as ______.RevocableWhat type of Louisiana offer can be rescinded at any point before offeree acceptance?It'd be relatively null.Due to traumatic brain injury, a Louisiana court has determined Connor to be an interdict, or someone who doesn't possess the mental capacity to enter into a contract. If Connor does enter into a contract, which of the following would be true of that contract?- It'd be absolutely null.- It'd be null.- It'd be relatively null.- It'd be valid.Multiple personsWhen an obligation binds multiple obligors to multiple obligees, all parties share in the liability.Partial performanceOne or both parties have completed only a portion of the terms agreed to in the contract.Absolutely nullThe contract is illegal or violates a rule of public order.ContractAn agreement between two or more parties that creates, modifies, or extinguishes obligation(s) DuressTracie Needles has agreed to sell her condo to her ex-boyfriend, who threatened to hurt her family if she didn't sell it to him.What's this an example of?The parties agree to proceed in good faith and not unduly delay the process.What does the phrase "time is of the essence" mean with regard to a real estate contract?RedhibitionWhen a buyer would've avoided a sale had he known about a vice/defect that renders the property either useless or inconvenient/imperfect Real estateUnder the Louisiana statute of frauds-or the Louisiana Civil Code 1839-contracts to transfer immovable property generally must be in writing. What is "immovable property"?ConfusionWhen a debt is extinguished because the obligor and obligee become one DuressUse of force or threat of force, such as blackmail or bodily harm

CommutativeSaying, "You scratch my back, and I'll scratch yours," is an example of what type of Louisiana contract?GratuitousIn what type of contract is one party obligated to do something for the other's benefit, but the obligated party doesn't receive anything in return?Unilateral contractAn agreement in which only one party is obligated and the other party doesn't reciprocate SeveralEach obligation stands alone, even if there are multiple persons involved.ObligorIn Louisiana, under an obligation, the person who is obligated to perform in another person's favor is known as the ______.MortgageSandra can't believe all the contracts and paperwork she's

signed since she began house hunting: the agency

agreement, her offer on the house, the final sales contract, the mortgage, and the closing paperwork. Which of these is a type of accessory contract?One party fails to meet the obligations of the contract.what constitutes a breach of contract?NullLouisiana resident Grant agrees to sell Terri his home in Shreveport, provided the house passes inspection, is insurable, and the financing comes through. When it's inspected, the inspector finds that the home's foundation is in terrible shape, so the house is uninsurable. What type of contract is this?When parties enter into an agreement voluntarily with full understanding of the contract terms In very general terms, when does the essential element of mutual consent occur?SynallagmaticLouisiana seller Pierre sells his New Orleans home to Jacqueline for $350,000. What type of contract is this?Substantial performanceOne party has met most-but not all-of the terms specified in the contract, and may be required to pay damages for the terms not met.Irrevocable offersCannot be rescinded until after the acceptance deadline This is a synallagmatic contract, because both parties are obligated to perform in the other's favor.Frannie, 85, enters into a contract with her 60-year-old neighbor, Greta, in which Frannie agrees not to let her dogs outside between the hours of 10 p.m. and 8 a.m., and Greta agrees not to mow her lawn any earlier than 8 a.m.on weekends. Which of the following is true of this situation?- This is an illegal contract, because people over age 80 can't be legally bound to contracts in Louisiana.- This is an invalid contract, because it won't hold up in court.- This is a synallagmatic contract, because both parties are obligated to perform in the other's favor.- This is a unilateral contract, because only one party is obligated to perform in the other's favor.