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 4 a) With reference to contract law, identify and explain the elements that need to be present to form a valid contract? b) Under what circumstances can an offer come to an end? Discuss using case law.3.5 Name the TWO parties to a contract.1. What is sale of goods contract. 2. What is express of sale of goods contract. 3. What is implied terms in sale of goods contracts.
- C. What role do conditions precedent and conditions subsequent play in contingent contracts?Question 3 Buyer and seller enter into a clear contract. The buyer refuses to purchase for a reason not excused by a contingency. Which statement is correct? A - The seller is entitled to damages the buyer caused, which are taken from either the earnest money deposit or the 20% down payment. B - The original buyer gets the earnest money deposit back as soon as there is a new offer. C - The seller has the right to terminate the contract and keep the earnest money deposit. D - The seller has the right to keep 20% of the down payment on property.what does it mean to terminate a contract by operation of law? Death of seller and broker? performance?
- The following situations generally require a contract to be in writing: • sales of land • purchases of goods over $500 • promises made in consideration of marriage ⚫ contracts that cannot be completed in less than one year • a contract in which one person promises to pay the debt of another person This legal concept is known as offer and acceptance promissory estoppel the statute of frauds et lux perpetua luceat eis(Q): Briefly explain the following:1. Legal Contract 2. Professional liability Explain question with your own words, examples and detail explanation.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.