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- a. True or false Under the objective theory of contracts, the intention to enter into a contract is judged by all the observable relevant outward, objective facts as interpreted by a reasonable person. b. true or false A unilateral offer is accepted by the Offeree doing the act requested by the offeror.1. Based on the facts given in hypothetical contract scenario drafted in Part 1, identify the following elements: C a Offer b. Acceptance c. Consideration d. Competent Parties e. Intention to create a binding agreement 1. Legality of PurposeWrong answer previous one
- A buver made an offer on a property on September 25th. The Seller countered on September 26th. Both parties signed the purchase contract on September 28th. The property closed on December 31st. What is the effective date of contract? O December 31st O September 26th O September 28th O September 25thListing Agent Pete is willing to help sell Seller Cami's condo but believes it will take a lot of work. Because of this, Pete wants to make sure that his efforts result in a well-earned commission. Given his stated desire, predict which type of listing agreement Pete will insist on entering into with Cami. exclusive right-of-sale listing open listing exclusive-agency listing net listingAn offer can be defined as an intimation of words and conduct, with a desire to enter into a binding arrangement. It is argued for an offer to be effective, the terms of the offer must be clear, precise and unambiguous. Please eloborate on the statement above.
- Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery Limited on September 30th 2022. She traveled 300 kilometers to attend the auction in order to bid for a particularly rare item the “Mozart Pottery”, specifically mentioned in the list of items to be auctioned. However, when she got to the auction site, she found a notice stating that the auction had been canceled. Mary thereafter proceeded to a nearby antique shop and saw on display in the window, the identical “Mozart Pottery” priced at $10,000. Mary told the shop owner, Anthony, that she was only willing to pay $8,000 for it. However, Anthony indicated that he is willing to sell the pottery for $9,500. Mary then indicated to him that she desires some time to think it over and after lunch she will advise him. Anthony subsequently, agreed not to sell the identified pottery, until she return after lunch. However, Anthony forgot his promised to Mary and sold it to John for $9,500 before…How is an offer accepted? Describe the rules for the manner of acceptance and its communiBecause fixtures can be detached from the land, thereby reverting back to personal property, what is a best practice with respect to the creation of a sales contract? to assume that the buyer will ask about any items of interest to not list anything that is to be included in the contract so that easy concessions can be made during the counteroffer phase to assume that the buyer will understand that anything that can be detached will be detached to list everything that is to be included in the contract
- Which of the following correctly identify the requirements for both legal and personal competence for a fiduciary? Must be a U.S. citizen Must meet a minimum age requirement as specified by state law Must be capable of analyzing a situation and making decisions Must be mentally competent as required by state law A) I and II B) II and III C) I, II, III, and IV D) III and IVB. Conditions of Contract define the basic rights, responsibilities and relationships of the parties involved in the construction. Conditions of Contract can be classified as follows: i. General Conditions ii. Supplementary Conditions iii. Special Conditions. The Client has submitted to you several suggestions to be embedded in the contract document. You have noticed that all the suggestions fall under any of these contract conditions. How do you categorize the said suggestion base on your understanding of the above listed conditions of contract?What are the terms used for the parties involved in the offers and negotiations leading up to the final contract? offeree and counteror offeror and recipient offeror and counteror offeror and offeree
