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Based on the chart below, answer the following questions:- 1. What is X? Briefly describe the "X" element to enable the contract to be binding? 2. There are 2 situations of intention to create legal relations. One of them is domestic relations. What are the presumptions under the domestic relations? 3. Whether there will be valid contract if there was no written agreement made between the parties?

Based on the chart below, answer the following questions:- 1. What is X? Briefly describe the "X" element to enable the contract to be binding? 2. There are 2 situations of intention to create legal relations. One of them is domestic relations. What are the presumptions under the domestic relations? 3. Whether there will be valid contract if there was no written agreement made between the parties?

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COURSE: DIPLOMA IN ACCOUNTING

 

SUBJECT: BUSINESS & COMPANY LAW

 

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SECTION B Based on the chart below, answer the following questions:- 1. What is X? Briefly describe the "X" element to enable the contract to be binding? 2. There are 2 situations of intention to create legal relations. One of them is domestic relations. What are the presumptions under the domestic relations? 3. Whether there will be valid contract if there was no written agreement made between the parties? 4. Give one case under the element of certainty? 5. Is there is any acceptance of offer, if the offeree did not response on the offer made by the offeror? 6. Can Mr A sells his property valued at RM500,000 for RM300,000 which is low than market value? 7. How an offer can be effective? 8. In what situations the contract can be void? 9. List down 3 remedies for breach of contract. 10. What is the main difference between a void contract and a voidable contract? Offer Acceptance Elements to Valid Contract Consideration X Intention to create legal relations Certainty
Transcribed Image Text:SECTION B Based on the chart below, answer the following questions:- 1. What is X? Briefly describe the "X" element to enable the contract to be binding? 2. There are 2 situations of intention to create legal relations. One of them is domestic relations. What are the presumptions under the domestic relations? 3. Whether there will be valid contract if there was no written agreement made between the parties? 4. Give one case under the element of certainty? 5. Is there is any acceptance of offer, if the offeree did not response on the offer made by the offeror? 6. Can Mr A sells his property valued at RM500,000 for RM300,000 which is low than market value? 7. How an offer can be effective? 8. In what situations the contract can be void? 9. List down 3 remedies for breach of contract. 10. What is the main difference between a void contract and a voidable contract? Offer Acceptance Elements to Valid Contract Consideration X Intention to create legal relations Certainty
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