devrat Bernie Nohave is operating a scheme whereby investors' money is utilized to buy AIDS drugs in Africa. Themoney is then deductible as a charitable donation for tax purposes. Tom invests in this scheme to generatetax losses knowing that medicine is not being purchased. Is the contract valid?No, everyone knows that Bernie is bankrupt.No, the subject matter of the contract is illegal.No, there is no capacity.No, this transaction is ultra vires Bernie Nohave's corporationNo, there is no consideration.

Contracts are considered to be agreements that are legally binding in nature. There are some…

Answered: Bernie Nohave is operating a scheme…

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