Mr. Tom promises to find a job for Mr. Martin in a public company. Mr. Martin promises to pay 1000 OMR in return of this favour. Question a. Is this a valid contract? b. Is this agreement enforceable by law? Explain why or why not?
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Mr. Tom promises to find a job for Mr. Martin in a public company. Mr. Martin promises to pay 1000 OMR in return of this favour.
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- Determine what kind of defective contracts (A. Rescissible, B. Voidable, C. Unenforceable , D. Void or Inexistent) are the following: 1. Contract of sale of “shabu”. 2. Contract to manipulate the result of the election through hacking. 3. Contract of sale between husband and wife. 4. A simulated real estate mortgage. 5. A contract whereby X agreed to be the mistress of Y for P30,000.00 monthly allowance. 6. A contract whereby the debtor agreed to work for the creditor for free as long as the debtor has not paid his debt. 7. A lease contract where it is stipulated that the lessor can forcibly evict the lessee for non-payment of rent. 8. A contract of sale of the seller’s future inheritance from his parents. 9. A contract whose cause or object did not exist at the time of the transaction. 10. A contract of sale of a slightly used human brain. 11. A contract of barter or exchange of a human heart for a human liver. 12. A contract whereby the City of Baguio donated Bakakeng Road to…Riya writes an email promising to sell her car to Manish for $500, and Manish replies that he will pay Riya on the 24th of the month. On the 24th, Manish pays Riya and she gives him the title to the car. Manish and Riya have a(n) __________. a.) unilateral contract b.) implied contract c.) executory contract d.) executed contractAhmed, who was admitted in a hospital, was required to undergo a surgery. Before his operation, he agreed to sell his house which was already listed for sale, to his doctor for Rs. 9.7 million. The market price of the house was Rs. 10 million. After successful operation Ahmed rescinded the agreement alleging “Undue Influence” by the doctor. a. Can he succeed? b. Justify Your answer keeping in view the ingredients of undue influence as laid down in Contract Act, 1872.
- Mr. Nassir works as a sales agent in an insurance company and is responsible for selling life insurance. Mr. Nassir's basic salary is OMR 500 per month. However, as per his employment contract, he receives an extra income of OMR 30 for every life insurance he sells. This makes his total salary significantly different from his basic salary. This extra income belongs to which of the following categories? Illegal income Deduction Fringe benefit IncentiveMr. Asif is a minor who entered in a contract & offered to sale a Toyota Corolla GLI model 2019 & demanded Rs.2.5 Million. Mr. Aneel is willing to buy Mr. Asif’s car with same price. Whether it is a valid contract? Answer must be in (Yes or No) Give reason to support your answer in part aAssume that A values his house at $90,000. B is willing to pay $110,000 for A’s house in order torelocate closer to work. After signing a contract, B’s employer announces that the company will moveto another city. In view of this fact, the value of the house to B is reduced to $75,000. From anefficiency viewpoint, who should own the house, A or B?How will the parties achieve efficiency in allocating the house if the court enforces the contract?
- X is indebted to Y in the amount of P25,000.00. In order to escape payment of his debt to Y he sold his only passenger jeepney to his brother-in-law Z. State whether the contract is absolute or relative simulation. Why? Subject : ME LAWSIn September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November. On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic circumstances were such that she no longer required his services. Can Bryan sue Amina? Explain your answers in light of the principles learned on breach of contract. (maximum 500 words)Alice owns a contracting company that receives most of its business through government contracts. A new procurement officer with a government agency implies to Alice that if she does not send him a bribe for her latest awarded contract, she will not get any further contracts. If Alice loses future contracts, her business will fail. She reluctantly gives the officer a bribe. Has Alice committed a violation? A. Yes, because Alice was not under economic duress. B. Yes, because being extorted is not a defense to giving a bribe. C. No, because Alice was under economic duress. D. No, because Alice was not the one who proposed the bribe.
- Marco decides to take $2,000 from the partnership for the repair and record it as an expense of the partnership. He believes that this is appropriate since he needs his car to get to work every day. Is Marco behaving ethically? Why or why not? Who is affected by Marco’s decision? What other alternatives might Marco consider?Mr. Dela Cruz, a managerial employee, was given cash so he can purchase a car. The car shall be in Mr. Dela Cruz’s name. The purchase price of the car amounts to P750,000, while the cash provided amounts to P800,000. How much is the fringe benefits tax on the transaction?Robert is the CEO of a closely held business, and he would like to provide life insurance to all of his employees as a fringe benefit. Robert would like life insurance that permits him to pay the premium, so long as it is deductible as a business expense and permits the employee to designate the beneficiary of the policy. Which one of the following is the most appropriate insurance product for Robert's situation? A)Robert should enter into an entity buy-sell agreement with each employee using cash value life insurance. B)Robert should provide group term life insurance. C)Robert should provide key person life insurance. D)Robert should provide split-dollar life insurance.
