Q.23. What are the essential elements of a valid contract?explain elaborately?
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Q.23. What are the essential elements of a valid contract?explain elaborately?
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- Question 3(a) In legal perspective, a minor is incapable to make any valid contracts. Describe the above statement with the support of relevant legal authorities.Question 1Amy and Bianca intended to form a company called Flexible Co Ltd to engage in trading. Before the company was incorporated, Amy and Bianca signed a lease agreement with Fix-a- deal Co Ltd in the name of Flexible to rent an office in Tsim Sha Tsui. Three months after Flexible’s incorporation, Amy met Cyril who mentioned that he had an office of about the same size to let at a much lower rent. Amy and Bianca went to see the premises and found it very suitable for their business. They wish to repudiate the existing lease and take up a new lease with Cyril.Advise Amy and Bianca. Question 2By reference to relevant section(s) of the Companies Ordinance, explain the effects of incorporation.Question#2 A) Differentiate between Contract Vs Agreement B) Differentiate between Civil Vs Criminal Law C) Draw a chart of different types of contract in details. Note:- Donot Copy paste from internet Sources, it will be better if you write in your own words
- QUESTION TWO INVITATION FOR BIDS (IFB) A CASE OF BULIMI AGRICULTURE INVESTMENTS ADVERT THAT APPEARED IN THE TIMES OF ZAMBIA DATED 20TH JUNE 2021 Tender for the Hire of 2 x Sixteen Seater Mini Busses for transporting employees for the new agriculture settlement in Kabwe central province of Zambia for a Period of 12 months. Bulimi Agriculture Investments, has received financing from own sources, and it intends to apply part of the proceeds of this financing to payments under the contract for the hire of a 2 x Sixeteen Seater Minis Busses. REQUIRED: A.After analysing the procurement advert above. Identify Four (04) important information that is missing from the advert to make it complete. B.Using the identified information above, design a new advert for Bulimi Agriculture Investments. C.Mention Two (02) recommendations to Management that will prevent…Question 3 Decide whether an acceptance is enforceable in the following circumstances with reference to the relevant statutory provisions and case laws:(a) On Thursday, Rita called Beatrice to offer her most favourite Disney Princess toy for RM300 to be responded by the next day. Beatrice agreed to the offer on Sunday claiming that she has just remembered about it.3. A contract is a written, spoken or tacit (understood) agreementbetween two or more people, which is intended to be enforceable bylaw. Name FIVE elements of a contract that you should include for yourbusiness.
- Question 9 Donald puts a lot of money into a bucket and gives Bernie a power of appointment over the money in the bucket. Bernie has the power to distribute that money only to himself, his creditors, his estate, or his estate's creditors. What is the correct name for his power of appointment? It is a/an: General power of appointment Limited power of appointment Question 10 True or False. The spousal consent rules for the annual exclusion require the non-donor spouse to consent to all gifts made by the donor spouse in that year; he or she cannot select which gifts he or she will join and which he or she will not. True FalseQUESTION 44 Which of the following represents the basic distinction between a bilateral contract and a unilateral contract a. The rights under a bilateral contract are assignable, whereas rights under a unilateral contract are not assignable. b. Only one promise is involved ifthe contract is unilateral but two promises if the contract is bilateral. c. Specific performance is available if the contract is unilateral whereas it is not if the contract is bilateral. d. The Statue of Frauds applies to a bilateral contract but not to a unilateral contract.Write an example of a contract Vaild