Decide in each of the following instances whether the statement is true or false and motivate your answer. 1. A voidable contract is neither valid nor void. 2. In law an agreement is a valid contract between the ageing parties.
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Decide in each of the following instances whether the statement is true or false and motivate your answer.
1. A voidable contract is neither valid nor void.
2. In law an agreement is a valid contract between the ageing parties.
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- Which of the following statements regarding discharge of contracts is FALSE? 1) All parties are relieved of their obligations if the contract is discharged. 2) Party A need not pay for any goods received from Party B if Party A willingly accepts the partial performance of the contract by Party B. 3) A contract that becomes more expensive or difficult to perform will not be automatically discharged. O 4) A contract will be discharged if it becomes impossible subsequently to perform the contract.1) summarizing whether you believe that contracts are promises 2) Analysis whether and why contracts and promises should be treated the same or differently 3) in your analysis, consider the potential economic, legal and moral consequences of your answer.Which of the following is correct about implied and express contracts? Implied contracts can be legally binding while express contracts cannot. Express contracts explicitly state the terms of the contract while implied contracts are established by the parties' actions. Implied contracts explicitly state the terms of the contract while express contracts are established by the parties' actions. Express contracts can be legally binding while implied contracts
- A contract will be considered illegal from inception where performance can only be pursued via an illegal act. Contracts falling into this category cannot be enforced. Indeed, if a contract is illegal from the start, all contractual parties will not acquire any rights under that contract, regardless of their intentions at formation of the contract. The contract will be void and treated as if it was never created. a) You are required to critically define and discuss the concept of illegality in law from a theoretical standpoint.1. Which of the following describes when a person does not understand that a contract is being made or does not understand its general nature due to a mental condition caused by medication, drugs, alcohol, illness, or age. Factual incapacity Status incapacity Infactual incapacity Illegal incapacity 2. It’s possible the validity of a contract may be affected if one or both parties made a mistake. True False 3. Which of the following is not a problem area in determining whether the parties to a contract have genuinely agreed to be bound by the terms: Lack of contractual capacity Deception Pressure Privity of contract Mistake1. According to the 1980 United Nations Convention on Contracts for the International Sale of Goods, an agreement on a price is required for a contract for the sale of goods to be valid? a. Yes, if the contract is done by writing. b. Yes, article 14 of the convention provides for it. c. No, the price is always unilaterally determined by the seller. d. No, article 50 regulates the case of the valid conclusion of a contract for the sale of goods without determination of the price. e. Yes, if the value of the contract is more than € 10.000. 2. Choose a contracting State to the 1980 United Nations Convention on Contracts for the International Sale of Goods that is not bound by article 11, article 29 or Part II of the Convention that allows a contract of sale to be done in any form other than in writing: a. Finland b. United States of America c. Mexico d. Canada e. Belarus 3. Albert is a merchant selling cars. Bob offered € 5.000 for a car which price announced by Albert was € 10.000.…
- Contracts are very important in today’s world. The courts use the Objective Theory of Contracts to decide what is in a contract and what is not. For this challenge, you must defend your position on the following statement: The Objective Theory of Contracts is too narrow and the court must consider statements of intention, invitations to negotiate, and circumstances surrounding the formation of a contract as part of contracts, too. This is business law question please!In which type of Contract is there a "lack of meeting of the minds?" a) Bilateral b) Unilateral c) Fraudulent d) Oral 2. Generally where a unilateral mistake is made in a Contract, the Contract will still be enforced, except where the non-mistaken party was aware of the mistake. a) True b) False 3. A home builder misjudges the cost of the windows to be installed in the house. This is: a) Bilateral mistake leading to rescission. b) Unilateral mistake which can be corrected. c) A mathematical mistake which is correctable. d) An error of judgment, not correctable. 4. "Sign or I'll kill you" is an example of: a) Undue Influence b) Misrepresentation c) Duress d) either a or b 5. An attorney who over a period of time convinces an elderly widow to deed…BUSINESS LAW EXPERT PLS ATTAIN THIS 1. An offer to contract was made to you by email. You decided to accept that offer and replied by email stating your acceptance. When is the acceptance validly communicated? 2. P entered into a 10-year lease of a warehouse. Thereafter, the local authority closed the only street access to the warehouse because of a dangerous building. The street was to be re-opened after the dangerous building was demolished. Discuss whether P could refuse to pay rent and have the contract set aside on the basis of frustration.
- 2) A fiduciary relationship is one based on trust and explicit or implicit contract that creates economic incentives for the different parties. Select an alternative True False15-year old inherited some property from a grandparent. The 15-year old put the property on the market and accepted an offer. Could the 15-year old legally reverse the agreement to sell? a. Yes, the contract is void because the seller is a minor. b. Yes, the contract is voidable because the seller is a minor. c. Yes, the contract in unenforceable because the seller is a minor. d. No, the contract is valid and may not be rescinded.In 2010, X and B agreed that they will pretend that they will enter into a contract of sale so that X will have a lesser tax to pay. In the contract of sale, it was indicated that X will sell the car for P50Million to which B agreed. What is this kind of contract? A. Absolute simulation B. Relative simulation C. Factual simulation D. Fictional simulation