Ali bought a piece of land from Ahmad below the market price that is RM10,000. Does this considered as sufficient consideration under the contract law?
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Students must be able to identify the basis of a valid contract and its implications.
Students must be able to apply the legal principles in solving relevant problems.
1. Ali bought a piece of land from Ahmad below the market price that is RM10,000. Does this considered as sufficient consideration under the contract law?
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- Choose the right answer. 2. (The law of Agency) Conflict of interest means ________________. a. Agent is interested in Principal business b. Principal is interested in Agent business c. Agent stands to compete with Principal interest d. Principal stands to compete with Agent interest 3. (Law of Contract) The agreement is _____________ if it is caused by mistake as to any law in force in Malaysia. a. voidable b. void c. valid d. illegal 4. (Law of Contract) Yan wants to borrow RM20,000 from her friend Pang and Pang agrees to lend the money if Yan agrees to pay the money to Cathy, his sister in four installments. The above situation illustrates the principle of __________. a. consideration need not move from the promisee b. part payments are valid consideration c. natural love and affection is valid consideration d. executory consideration is performed after contract is madeRavi wanted to buy a property owned my Ramesh, Ravi invited Ramesh to his home to discuss the further course of action. During the discussion Ravi threatens to him to sell that property at a very low price. Under the threat of life Ramesh signs the agreement.Ramesh comes to you to check how the legal framework will help him to over comewith this situation and loss-making deal.1. According to the 1980 United Nations Convention on Contracts for the International Sale of Goods, an agreement on a price is required for a contract for the sale of goods to be valid? a. Yes, if the contract is done by writing. b. Yes, article 14 of the convention provides for it. c. No, the price is always unilaterally determined by the seller. d. No, article 50 regulates the case of the valid conclusion of a contract for the sale of goods without determination of the price. e. Yes, if the value of the contract is more than € 10.000. 2. Choose a contracting State to the 1980 United Nations Convention on Contracts for the International Sale of Goods that is not bound by article 11, article 29 or Part II of the Convention that allows a contract of sale to be done in any form other than in writing: a. Finland b. United States of America c. Mexico d. Canada e. Belarus 3. Albert is a merchant selling cars. Bob offered € 5.000 for a car which price announced by Albert was € 10.000.…
- Case 4Cameat company is a company in Oman that exports camel meat to various countries. The company enters into a contract with SS trading company to start a new business in Oman. SS trading company has given misleading statement of facts during negotiations of the contract and this has influenced Cameat company to enter into this contract.Question a. If Cameat company repudiates this contract in the court of law, what type of contract is it? b. Is the contract in this case enforceable by law? Explain why or why not?In which type of Contract is there a "lack of meeting of the minds?" a) Bilateral b) Unilateral c) Fraudulent d) Oral 2. Generally where a unilateral mistake is made in a Contract, the Contract will still be enforced, except where the non-mistaken party was aware of the mistake. a) True b) False 3. A home builder misjudges the cost of the windows to be installed in the house. This is: a) Bilateral mistake leading to rescission. b) Unilateral mistake which can be corrected. c) A mathematical mistake which is correctable. d) An error of judgment, not correctable. 4. "Sign or I'll kill you" is an example of: a) Undue Influence b) Misrepresentation c) Duress d) either a or b 5. An attorney who over a period of time convinces an elderly widow to deed…1. What is the difference between executed and executory consideration? 2. State any two courts in Ghana which are known as lower courts? 3.State one disadvantage of litigation. Explain the concept of remoteness of damages. What is arbitration? What is the difference between void and voidable contracts? What is the legal distinction between duress and undue influence as vitiating factors? Communicating of an offer must be made to a particular individual, groups etc. What happens if the communication is made to an individual that the offeror does not in tend to contract with? Where the contract is made to a specified person but is accepted by another person? Where an offer is communicated to a class or group of persons. Where an offer is communicated to the general public or the whole world. What is supervisory jurisdiction Exclusive jurisdiction Appellate jurisdiction Original jurisdiction? What are the brief facts and legal principles espoused in the following cases:…
- Mr. Henok claims he has been unfairly dismissed by his employers. He consults a law firm owned by Mrs. Justice, who agrees to take up Henok’s case. The law consulting firm, owned by Ms Justice advises him that if Henok wins his case he can expect a compensation of 30,000 birr but if he loses he will receive nothing. The law consultant firm estimates her fee to be 5,000 birr. As an alternative the consultant offer him a ‘no win, no fee’ deal under which he pays no fee but if he wins his case, the consulting firm will take half of the compensation he receives. Henok also asked to pay his employer’s cost which is 1000 birr in both deals. He can decide against bringing the case, which will incur no cost and result in no compensation. Based on the information given above: a. Develop a payoff table to Henok’s case b. Advise Henok what to do: i. Using the maximax decision ruleii. Using the maximin decision rule.iii. Using the Minmax regret decision rule16. Why are restrictive covenant clauses controversial? They are controversial because they allow people to create contract terms that restrict their future right to alter those same contracts They are controversial because they allow people to create contract terms below the otherwise legislated minimum standards of work They are controversial because they seem to pit two legitimate interest against each other: the right of trade against the right of contractState whether the following agreements or contracts are void, voidable valid, and provide a reason for your answer. Q.2.4 Amy, who is 17, has inherited an apartment in Cape Town from her deceased father. The apartment is valued at R2 million. With her mother’s assistance, Amy enters into an agreement to sell the apartment to her aunt. Q.2.5 Justin, who is mentally ill, concludes a contract for the sale of his laptop without his curator knowing.
- explain the following terms in your own words and understanding and give specific examples. - Obligations - Contracts - Law - Quasi-Contracts - Quasi-DelictsAdvanced) In some countries, there are restrictions on the length of a contract to rent an apartment. Suppose the restriction is that contracts must last for five years. In response, some people sign private agreements to rent for shorter durations, such as a year. What are the problems that might arise from signing these private agreements? What happens if there is a dispute? What role might reputations play in the enforcement of these private agreements?In 2010, X and B agreed that they will pretend that they will enter into a contract of sale so that X will have a lesser tax to pay. In the contract of sale, it was indicated that X will sell the car for P50Million to which B agreed. What is this kind of contract? A. Absolute simulation B. Relative simulation C. Factual simulation D. Fictional simulation