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Contracts Flashcards

6 cards from real FL BAR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Contracts flashcards as text
  1. When both parties to a contract are mistaken about a material fact at the time of contracting, the contract may be voided under which doctrine?

    Answer: Mutual mistake

    Mutual mistake as to a basic assumption on which the contract was made allows the adversely affected party to void the contract if the risk was not allocated to them.

  2. Under the UCC battle of the forms (§ 2-207), additional terms in an acceptance between merchants:

    Answer: Become part of the contract unless materially altering it or the offeror objects

    UCC § 2-207(2) provides that between merchants, additional terms in an acceptance automatically become part of the contract unless they materially alter it, the offer limits acceptance to its terms, or the offeror objects.

  3. A contract that is impossible to perform due to the unexpected destruction of the subject matter is discharged under which doctrine?

    Answer: Objective impossibility

    Objective impossibility discharges a contract when the specific subject matter necessary for performance is destroyed through no fault of either party.

  4. Which of the following is NOT a recognized exception to the Statute of Frauds for real property contracts in Florida?

    Answer: Full payment of the purchase price alone

    Under Florida law, full payment of the purchase price alone, without possession or improvements, is generally insufficient to remove a real property contract from the Statute of Frauds.

  5. Which type of third-party beneficiary has vested rights and can sue directly on the contract?

    Answer: Intended beneficiary after vesting

    An intended third-party beneficiary's rights vest upon their knowledge and reliance, or upon bringing suit, giving them a direct cause of action against the promisor.

  6. When a seller of goods repudiates the contract before the delivery date, the buyer may:

    Answer: Immediately treat the repudiation as a breach and sue

    Anticipatory repudiation allows the aggrieved party to treat the repudiation as an immediate breach, seek cover, and sue without waiting for the performance date.