Explain , the rules regarding contingent contract.
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Explain , the rules regarding contingent contract.
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- Differentiate obligations arising from delict from obligations arising from quasi – delict.What is the basis for enforcing a contract under the doctrine of promissory estoppel?What is the definition of consideration and what general principles apply to its presence in contracts? Define promissory estoppel.
- State the effect of illegality on a contract.5. List the six (6) types of contracts that must be in writing.What is the test for whether a term is a condition? pick one answer from the following: The parties have described the term as a 'condition' or 'essential'. The promisee would not have entered the contract unless assured of strict or substantial performance of the relevant promise. Whether the term provides that performance of the contract is conditional on a contingency being fulfilled, such as finance being obtained, or development consent being granted. It was apparent to the promisor that the promisee would not have entered the contract unless assured of strict or substantial performance of the relevant promise.
- explain the following terms in your own words and understanding and give specific examples. - Obligations - Contracts - Law - Quasi-Contracts - Quasi-DelictsAll but which of the following must be present in order for a contract may be voided based upon mutual mistake? Multiple Choice 1. The mistake must result in a material effect on the contract. 2. a basic assumption about the subject matter of the contract is present. (Incorrect answer) 3. An adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement occurred. 4. Both of the parties were negligent in their representations to the other party.