BUSINESS LAW (LOOSE)-W/ACCESS >CUSTOM<
16th Edition
ISBN: 9781305768697
Author: Mann
Publisher: Cengage Learning
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Chapter 9, Problem 3CO
Summary Introduction
To discuss: The express and implied contracts, unilateral and bilateral contracts, valid, void, voidable, and unenforceable agreements; and executory contracts.
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Differentiate between a “void” and “voidable” contract.
Discuss the legal requirements for creating a valid and enforceable contract, including the elements that must be present.
What are the three ways in which a contract may discharged?
Chapter 9 Solutions
BUSINESS LAW (LOOSE)-W/ACCESS >CUSTOM<
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- With reference to contract law ,identify and explain the elements that need to be present to form a valid contract?arrow_forwardIdentify and explain each element of a contract.arrow_forwardDiscuss those cases under which object and consideration of an agreement is considered to be unlawful.arrow_forward
- What are the essential elements that must be present for a quasi contract to be formed?arrow_forwardUnder which of the following circumstance a contract does not exist The contract has no fixed duration and can be terminated or modified by either party at any time The contract was not approved in a written form The parties of the contract have reached unanimous consent regarding termination of the contract None of themarrow_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_forward
- a. True or false Under the objective theory of contracts, the intention to enter into a contract is judged by all the observable relevant outward, objective facts as interpreted by a reasonable person. b. true or false A unilateral offer is accepted by the Offeree doing the act requested by the offeror.arrow_forwardHow does ratification affect the rights and obligations of the principal and the agent in relation to each other?arrow_forwardIdentify and describe and explain the elements of an enforceable, valid legal contractarrow_forward
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