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
Under the UCC, a merchant's firm offer to hold an offer open is irrevocable for how long without consideration?
Answer: Up to 3 months
Under UCC § 2-205, a merchant's signed, written firm offer is irrevocable for a stated period not exceeding 3 months.
Which doctrine allows a court to enforce a promise even absent consideration when the promisor should have reasonably expected the promisee to rely on it?
Answer: Promissory estoppel
Promissory estoppel (detrimental reliance) enforces a promise to prevent injustice when the promisee foreseeably relied on it to their detriment.
A contract for the sale of goods worth $500 or more must be evidenced by a writing under which rule?
Answer: UCC Statute of Frauds
UCC § 2-201 requires a signed writing for contracts for the sale of goods priced at $500 or more.
Under the common law mirror image rule, an acceptance that adds new terms is treated as:
Answer: A counteroffer
At common law, any acceptance that varies or adds terms is a counteroffer, not a valid acceptance, because it fails to mirror the offer.
Which remedy places the non-breaching party in the position they would have been in if the contract had never been made?
Answer: Reliance damages
Reliance damages reimburse the non-breaching party for out-of-pocket expenses incurred in reliance on the contract, restoring the pre-contract status quo.
In Florida, a non-compete covenant in an employment agreement is enforceable if it is:
Answer: Supported by a legitimate business interest and reasonably limited
Florida Statutes § 542.335 requires non-compete covenants to be supported by a legitimate business interest and to be reasonably limited in time, area, and scope.