Assignments submitted through this link will be checked using SafeAssign by Blackboard. Your work will not be used for any purpose other than preventing plagiarism in the University. Ownership of the intellectual property contained in your written work will not be transferred to any third party. Please submit your paper as a Word Document. If you have the 2010 version of Word, please save your paper in a previous version (Word 972003 document) as Safe Assign may not accept the most recent version. Assignments submitted through this link will be checked using SafeAssign by Blackboard. Your work will not be used for any purpose other than preventing plagiarism in the University. Ownership of the intellectual property contained in your written work will not be transferred to any third party. Please submit your paper as a Word Document. If you have the 2010 version of Word, please save your paper in a previous version (Word 972003 document) as Safe Assign may not accept the most recent version. Please submit answers to the link below no later than 11:59 PM Sunday at week's end. Instructions: Format each of your Answers as follows: a b c d MANDATORY: Use the following outline for your EACH of your numbered answers: Quote the Definition from the Textbook (with quotation marks and page reference); Put the same thing in your own words; Give an example (your own or from the textbook or another source you cite); Provide a website that supports your answer and explain how the website helps you understand the Term you are defining (provide the website address). Persons who do not use this format risk earning a failing grade: Assignment Questions: (Definitions) 1 2 3 4 5 Define EACH of the following Terms: Legally enforceable Bilateral Contract Express Contract UCC Promissory Estoppel End of Questions. Note: Assignment grades will be determined as follows: 50% content; 30% analysis; and 20% organization and mechanics. Robert Hicks BUSLAW204 Safe Assignment Define EACH of the following Terms: 1 2 3 4 Legally enforceable Bilateral Contract Express Contract UCC Promissory Estoppel 1.) A. Legally enforceable means that a statement is \"authoritative, binding, compelling and has legal effect\". Willmott, L, Christensen, S, Butler, D, & Dixon, B 2009 Contract Law, Third Edition, Oxford University Press, North Melbourne pg 240-249. B.) Enforce means obedience to. A right or obligation is enforceable if a party obligated to an act is forced or ordered to comply with a legal process. In other words, enforceable is an action which can be made effective. C.) For example, an agreement between persons in which either of the parties involved can legally compel the performance of the other. D.) www.utsa.edu/.../definition.cfm 2.) A. Bilateral contract refers to \"an agreement formed by an exchange of a promise in which the promise of one of the party is the consideration supporting the promise of the other party\" Jolls, Christine (1997)"Contracts as Bilateral Commitments: A New Perspective on Contract Modification." Journal of Legal Studies 26 (January): 203-237. b.) B. A bilateral contract refers to a reciprocal arrangement between two [parties where each of the parties promises to perform an act in exchange of another's act. Each party is bound to the other. https://www.rocketlawyer.com/.../whats-the-difference-bet. 3.) A. An express contract is a contract in which all elements are specifically stated (offer, acceptance, consideration), and the terms are stated as compared to an \"implied\" contract in which the existence of contract is assumed by circumstance. Wilmot et al, 2009, Contract Law, Third Edition, Oxford University Press, page 34 B. An express contract is a contract whose terms the parties have explicitly stated out. The agreement is expressed in words either in oral or written form. D. www.businessdictionary.com/definition/express-contract.html 4.) A. UCC means uniform commercial code. It one of a uniform acts that have been promulgated to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. Stewart Macaulay; Jean Braucher; John A. Kidwell; William Whitford (2010). Contracts: Law in Action I (3rd ed.). LexisNexis. ISBN 978-1-42248176-9. B. The UCC thus means uniform act with a goal of harmonizing state law because of the prevalence of commercial transactions that extend beyond one state. The UCC ensures the uniformity of commercial laws. D. www.law.cornell.edu/ucc 5.) A. Promissory Estoppel refers to \"the doctrine that provides that if a party changes his or hers position substantially either by acting or forbearing from acting in reliance upon a gratuitous promise, then that party can enforce the promise although the essential elements of contract are not present\". Spence, Michael (1999). Protecting Reliance: The Emergent Doctrine of Equitable Estoppel. Hart Publishing. pp. 60-66. B. The legal principle that a promise is enforceable by law when the promisor makes a promise to the promise who relies on it to his or hers detriment. It is intended to stop the promisor from denying that the statements or conduct did not happen. D. www.law.cornell.edu/wex/promissory_estoppel Robert Hicks BUSLAW204 Unit 5 Safe Assignment Define EACH of the following Terms: 1 2 3 4 Legally enforceable Bilateral Contract Express Contract UCC Promissory Estoppel 1.) A.) Legally enforceable means that a statement is \"authoritative, binding, compelling and has legal effect\". Willmott, L, Christensen, S, Butler, D, & Dixon, B 2009 Contract Law, Third Edition, Oxford University Press, North Melbourne pg 240-249. B.) Enforce means obedience to. A right or obligation is enforceable if a party obligated to an act is forced or ordered to comply with a legal process. In other words, enforceable is an action which can be made effective. C.) For example, an agreement between persons in which either of the parties involved can legally compel the performance of the other. D.) www.utsa.edu/.../definition.cfm 2.) A. Bilateral contract refers to \"an agreement formed by an exchange of a promise in which the promise of one of the party is the consideration supporting the promise of the other party\" Jolls, Christine (1997)"Contracts as Bilateral Commitments: A New Perspective on Contract Modification." Journal of Legal Studies 26 (January): 203-237. b.) B. A bilateral contract refers to a reciprocal arrangement between two [parties where each of the parties promises to perform an act in exchange of another's act. Each party is bound to the other. C.) D.) https://www.rocketlawyer.com/.../whats-the-difference-bet. 3.) A. An express contract is a contract in which all elements are specifically stated (offer, acceptance, consideration), and the terms are stated as compared to an \"implied\" contract in which the existence of contract is assumed by circumstance. Wilmot et al, 2009, Contract Law, Third Edition, Oxford University Press, page 34 B. )An express contract is a contract whose terms the parties have explicitly stated out. The agreement is expressed in words either in oral or written form. C.) D.) www.businessdictionary.com/definition/express-contract.html 4.) A.) UCC means uniform commercial code. It one of a uniform acts that have been promulgated to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. Stewart Macaulay; Jean Braucher; John A. Kidwell; William Whitford (2010). Contracts: Law in Action I (3rd ed.). LexisNexis. ISBN 978-1-42248176-9. B.) The UCC thus means uniform act with a goal of harmonizing state law because of the prevalence of commercial transactions that extend beyond one state. The UCC ensures the uniformity of commercial laws. C.) D.) www.law.cornell.edu/ucc 5.) A. Promissory Estoppel refers to \"the doctrine that provides that if a party changes his or hers position substantially either by acting or forbearing from acting in reliance upon a gratuitous promise, then that party can enforce the promise although the essential elements of contract are not present\". Spence, Michael (1999). Protecting Reliance: The Emergent Doctrine of Equitable Estoppel. Hart Publishing. pp. 60-66. B.) The legal principle that a promise is enforceable by law when the promisor makes a promise to the promise who relies on it to his or hers detriment. It is intended to stop the promisor from denying that the statements or conduct did not happen. C.) D.) www.law.cornell.edu/wex/promissory_estoppel