Juan and Isidro Enter into a Contract to Buy, Restore

question 57

Multiple Choice

Juan and Isidro enter into a contract to buy, restore and reopen the Coastal Park Carousel. Before either party begins to perform, they agree to cancel their deal. This is

• A) ​specific performance.
• B) ​mutual rescission.
• C) ​accord and satisfaction.
• D) ​novation.

Distinguish between gratuitous promises and enforceable contracts.

Identify and explain the concept of estoppel and its application in legal disputes.

Recognize the significance of past consideration and its impact on contract enforceability.

Evaluate the role of quantum meruit in compensation for services rendered without a formal contract.

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Definitions:

Dimensional Classification

An approach in psychology that quantifies symptoms or behaviors along a spectrum rather than categorically separating them into distinct conditions.

Categorical Classification

A system that organizes or classifies entities into distinct categories based on specific criteria or characteristics.

Diagnostic System

Refers to a standardized method used for identifying and classifying mental health disorders.

Reliable

How consistently and stably a test tool delivers results over various instances.