Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Question
Chapter 12, Problem 2CO
Summary Introduction
To discuss: The illusory promises, output contracts, requirements contracts, exclusive dealing contracts, and conditional contracts.
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Use a clear example to demonstrate when a valid and legal contract can be declared void and explain the reasons behind such a decision.
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Chapter 12 Solutions
Smith and Roberson’s Business Law
Ch. 12 - Prob. 1COCh. 12 - Prob. 2COCh. 12 - Prob. 3COCh. 12 - Prob. 4COCh. 12 - Prob. 5COCh. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - Prob. 4QCh. 12 - Prob. 5Q
Ch. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10QCh. 12 - Prob. 11QCh. 12 - Prob. 12CPCh. 12 - Prob. 13CPCh. 12 - Prob. 14CPCh. 12 - Prob. 15CPCh. 12 - Prob. 16CPCh. 12 - Prob. 17CPCh. 12 - Prob. 18CPCh. 12 - Prob. 19CPCh. 12 - Prob. 20CPCh. 12 - Prob. 1TSCh. 12 - Prob. 2TSCh. 12 - Prob. 3TS
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- explain the following terms in your own words and understanding and give specific examples. - Obligations - Contracts - Law - Quasi-Contracts - Quasi-Delictsarrow_forwardExplain Void and voidable contracts with examples ?arrow_forwardif David agrees in consideration of $1,000 to mow his elderly neighbor’s lawn “for as long as she lives next door to him,” does the contract have to be in writing? why or why not? what is the rule regarding the ability of a person who is not a party to a contract to enforce a contract?arrow_forward
- All contracts should be made in writing (True or False) (Justify with example or explanation)arrow_forwardA contract of sale is distinct from other types of contracts because it has two additional requirements for validity. In order for a valid sale agreement to be concluded, the parties must agree on i) the object of sale and ii) on the purchase price. Briefly explain what each of these two requirements entailarrow_forwardThe contract of sale is an onerous contract. a. True b. Falsearrow_forward
- Which one of the following is a term that is implied by statute? Select one: a. A term required to make the contract between the parties effective b. A term that goods must be of merchantable quality c. Good faith d. A term implied on the basis of past dealings between the partiesarrow_forwardThe contract of sale is distinct from other types of contracts because it has two additional requirments for validity. In order for a valid sale agreement to be concluded, the parties must agree on i) the object of sale and ii) on the purchase price. Briefly explain what each of these two requirements entail.arrow_forwardWhat are the elements of a contract? Explain who the parties of a contract might be.arrow_forward
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