BCOR 320 Exam 3: Contracts and Their Legal Implications, Exams of Search Engine Optimization and Advertising (SEO and SEM)

Download BCOR 320 Exam 3: Contracts and Their Legal Implications and more Exams Search Engine Optimization and Advertising (SEO and SEM) in PDF only on Docsity! BCOR 320 Exam 3 WVU Questions and Verified Solutions Latest Update. 1. Contracts - Correct answer a promise that the law will enforce. 2. Bilateral Contracts - Correct answer both parties make a promise (to do something) to each other. 3. Unilateral Contracts - Correct answer one party makes a promise to the other that the other party can accept only by doing something specific. 4. Express Contracts - Correct answer the two parties to the contract explicitly state all of the important terms of their agreement 5. Implied Contracts - Correct answer the words and conduct of the parties indicate that the parties intended to make an agreement. 6. Executory Contract - Correct answer when one or more parties has not fulfilled its obligations under the contract. 7. Executed Contract - Correct answer when all parties to the contract have fulfilled their obligations under the contract. 8. Valid Contract - Correct answer satisfies the law's requirements 9. Unenforceable Contract - Correct answer when the parties intend to form a valid bargain but some rule of law prevents enforcement 10.Voidable Contract - Correct answer when the law permits one party to terminate the agreement. 11.Void Contract - Correct answer one that neither party can enforce, usually because the purpose is illegal or one of the parties had no legal authority. 12.Promissory Estoppel - Correct answer used to enforce the defendant's promise if he can show that: - The defendant made a promise knowing that the plaintiff would likely rely on it - The plaintiff did rely on the promise - The only way to avoid injustice is to enforce the promise 13.Quasi-Contract - Correct answer a legal agreement created by the courts between two parties who did not have a previous obligation to each other. P a g e 1 | 5 14.Quantum Merit - Correct answer the damages awarded, meaning "as much as he deserved" 15.Elements of a Contract - Correct answer - Offer - Acceptance - Consideration - Legality - Capacity - Consent - Writing 16.Meeting of the Minds - Correct answer understanding each other and intend to reach an agreement. 17.Offer - Correct answer an act or statement that proposes definite terms and permits the other party to create a contract by accepting those terms. 18.Termination by Revocation - Correct answer effective when the offered receives it 19.Termination by Rejection - Correct answer if an offered rejects an offer, the rejection immediately terminates the offer. 20.Termination by Counteroffer - Correct answer if an offered counteroffers, it is a rejection that immediately terminates the offer. 21.Termination by Expiration - Correct answer when an offer specifies a time limit for acceptance, that period if binding. 22.Termination by Destruction - Correct answer destruction of subject matter terminates offer, illegality of subject matter terminates offer. Death by offer or offered terminates the offer. 23.An offer can't be revoked when: - Correct answer - written - signed by offer or - containing essential terms/conditions - supported by consideration 24.Mirror Image Rule (common law) - Correct answer requires that acceptance be on precisely the same terms as the offer. 25.Mailbox Rule - Correct answer an acceptance is generally effective upon dispatch, meaning the moment it is out of the office’s control. P a g e 2 | 5