Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card For Mann/roberts’ Smith And Roberson’s Business Law, 17th
17th Edition
ISBN: 9781337094566
Author: Richard A. Mann, Barry S. Roberts
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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Discuss the legal requirements for creating a valid and enforceable contract, including the elements that must be present.
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. What constitute misrepresentation and mistakes under the Law of Contract?
Chapter 9 Solutions
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card For Mann/roberts’ Smith And Roberson’s Business Law, 17th
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- 3. Define the term contract and list all the essentials of a valid contract.arrow_forwardIdentify and explain each element of a contract.arrow_forwardA contract forms when one person makes an offer, and another person accepts it by communicating their assent or performing the offer’s terms. If the terms are certain, and the parties can be presumed from their behavior to have intended that the terms are binding, generally the agreement is enforceable. While agreement is the basis for all contracts not all agreements are enforceable. A preliminary question is whether the contract is reasonably certain in its essential terms, such as price, subject matter and the identity of the parties. Provide: An Introduction and a conclusion A critical discussion on the concepts of what is an offer, inclusive of the various requirements of an effective and valid offer, with five (5) landmark supporting cases. How can an offer be affected where the terms are not clear? Critically discuss with three (3) landmark cases.arrow_forward
- Discuss those cases under which object and consideration of an agreement is considered to be unlawful.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_forwardIdentify and describe and explain the elements of an enforceable, valid legal contractarrow_forward
- The 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_forwardHow does ratification affect the rights and obligations of the principal and the agent in relation to each other?arrow_forwarda. 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_forward
- A contract forms when one person makes an offer, and another person accepts it by communicating their assent or performing the offer's terms. If the terms are certain, and the parties can be presumed from their behavior to have intended that the terms are binding, generally the agreement is enforceable. While agreement is the basis for all contracts, not all agreements are enforceable. A preliminary question is whether the contract is reasonably certain in its essential terms, such as price, subject matter and the identity of the parties. 1.Critically discuss the concept of what is an offer, inclusive of the various requirements of an effective and valid offer, with supporting case laws. Please use (5) landmark cases. 2.Indicate how can an offer be affected where the terms are not clear? Critically discuss. (3) landmark casesarrow_forwardUse a clear example to demonstrate when a valid and legal contract can be declared void and explain the reasons behind such a decision.arrow_forwardExplain the concept of a void contract in easy terms.arrow_forward
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