Explain the elements of a valid contract. essay type
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Q: Explain the concept of a void contract in easy terms.
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Q: (1) Describe a contract you've entered into. (2) Identify the offeror, (3) the offeree and (4) the…
A: Detailed explanation: Let's delve into a recent contract I entered into: (1) The Contract:Recently,…
Q: Give three (3) examples of implied revocation of an agency. Discuss each example thoroughly
A: Implied revocation of an agency refers to the termination or cancellation of an agency relationship…
Q: Define the term "unconscionable" and describe the effect of an unconscionable contract.
A: Unconscionable: Unconscionable defines that unusually harsh and shocking to the…
Q: The articles of partnership is a written contract describing the terms of a partnership.;True or…
A: A partnership is a business form in which two or more individuals come together to conduct business…
Q: b) Write two elements of a contract of indemnity.
A: An indemnity agreement is an agreement between two parties in which one party (the indemnifier)…
Q: Set out & explain any five exclusive clauses found in a contract of sale of business.
A: A contract of sale of business typically includes a number of clauses that are designed to protect…
Explain the elements of a valid contract. essay type
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- What are the elements of a contract? Explain who the parties of a contract might be.Mai enters into an agreement to sell an antique bedroom set to Alice for $200,000 because it is exquisite and unique. Madison offers to pay Mai $250,000 for the furniture. Mai calls Alice to cancel the contract. Is this a type of contract where usually contains a liquidated damages clause? Why or why not?Explain Subcontracting?
- Provide the legal definition of a contract.Conditions precedent Multiple Choice Render a contract frustrated Render a contract void at the option of the injured party Must occur before a contract can be cancelled Must occur before a contract is enforceable Render a contract void immediatelyOlav starts Power Cells to make and sell batteries. Later, Olav contracts with Quinn to invest additional capital in the firm in exchange for 25 percent of the profits. Olav and Quinn are not partners in Power Cells because
- What is the basis for enforcing a contract under the doctrine of promissory estoppel?WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?What is the definition of consideration and what general principles apply to its presence in contracts? Define promissory estoppel.
- Explain how the following became sources of an obligation 1. Law 2. Contract 3. Quasi-contract 4. Acts or Omission punished by law5. List the six (6) types of contracts that must be in writing.Business contracts may contain exclusion clauses as a means of limiting or excluding liabilities. Explain what is meant by the term “exclusion clause” and how case law and statutes regulate the use of such clauses in business contracts.