POLS 3301

  1. What was the major economic theory before the Ind. Rev.
  2. In mercantilism, was interest in individual good or group as whole
    group as whole
  3. Did laws pre ind. rev. protect group or individual
  4. Pre-ind rev. = ___ theory of contract
  5. What are the 2 different types of mercantilism
    • 1 external
    • 2. internal
  6. Which type of mercantilism is about England trying to regulate trade and price in the colonies
  7. Which type of mercantilism is about colonies trying to regulate their own trade and prices
  8. In internal mercantilism price must be ___
  9. Who determines if price is just in mercantilism
  10. In mercantilism prices is fixed by __
  11. What are the 3 common law crimes for restraint of trade under mercantilism
    • 1. forestalling
    • 2. engrossing
    • 3. regrating
  12. Who does forstalling effect
    producers of goods
  13. What is limiting supply to make price go up (mercantilism)
  14. Who is engrossing against
  15. under mercant. what is the charge for a monopoly
  16. What is buying low and selling high charge (merc.)
  17. Were contracts necessary during mercantilism (why)
    no- everything statute based
  18. What are the only 4 types of suits under mercan.
    • 1. indebitus assumpsit
    • 2. Quantum Meruit
    • 3. Quantum Velebant
    • 4. Special Assumpsit
  19. What is the most common suit under merc.
    indebitus assumpsit
  20. Which type of suit (merc) is brough to make sure someone fullfilled their obligations
    indebitus assumptis
  21. What suit is about court inventing contract for delivered services
    quantum meruit
  22. what suit is about inventing a contract for deliver of goods
    quantum velebant
  23. Who wrote Wealth of Nations, when
    Adam Smith 1776
  24. What did Adam Smith's book "Wealth of Nations" say
    mer. bad because restrict liberty and economy
  25. What are the 6 big changes from mer. to contracts
    • 1. Expectation damages
    • 2. consideration
    • 3. caveat emptor
    • 4. parol-evidence theory
    • 5. statute of frauds
    • 6. dimise of quantum meruit
  26. Which case was about expecation damages
    Sands v. Taylor
  27. Change from Equitable theory to will theory.....issues moved from matter of fact to matter of law taking the decision away from ____
  28. Which case is about not buying the full order of wheat
    sands v. taylor
  29. Under old rule consideration must be ____ now it can be as small as a ____
    adequate, peppercorn
  30. What 3 cases were about consideration
    • 1. Seymour v. Delaney
    • 2. White v. Flora and Cherry
    • 3. Laidlaw v. Organ
  31. Which case was about trading city lot for farm
    Seymour v. Delaney
  32. Which case was about a land grant from rev. war
    White v. Flora and Cherry
  33. Which case was about buying tobacco before the war of 1812 ended
    Laidlaw v. Organ
  34. The 3 consideration case helped to ___ ___ ____
    encourage risk taking
  35. What means buyer beware
    caveat emptor
  36. In mercan. system product must be ____, but after ind. rev. buyer buys at own ___ unless ____
    sound, risk, fraud
  37. What are the 3 caveat emptor cases
    • 1. seixas v. woods
    • 2. McFarland v. Newman
    • 3. Goulding v. Skinner
  38. Which case said buyer can't recover is seller sells it unknowningly
    Seixas v. Woods
  39. Which case says if you are too stupid to put in contract, we won't help you
    McFarland v. Newman
  40. Which case was about misleading advertising
    Gouldings v. Skinner
  41. What new rule said if there is a written contract, court won't look at outside evidence to see intent of parties
    Parol-evidence rule
  42. What is Parol - evidence rule
    if a written contract- won't look at outside info to see intent of parties
  43. What is 1 evidence/parol case
    Mumsford v. McPherson
  44. Which case is about buying a ship with copper fininshing that was not specified in contract
    Mumsford v. McPherson
  45. What are the 3 things that must be in writting and why
    • 1. buying/selling land
    • 2. expensive goods
    • 3. services taking longer than 1 year
    • Statute of Frauds
  46. What is one case that shows the demise in Quantum Meruit (court creating contract for partial performance)
    Lawtry v. Parks
  47. Which case was about a man only working 10 months of his 12 month contract
    Lawtry v. Parks
Card Set
POLS 3301