Illinois Accident and Health Producer General - Shayaan ShaikhOffer, acceptance, and consideration are necessary elements of:OA.OB.OC.OD.a warrantya representationa contractinsurable interestTime RemainingFlag fo

A warranty can be stated as the written promise from the organization or an individual to provide…

Answered: Offer, acceptance, and consideration…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Differentiate obligations arising from delict from obligations arising from quasi – delict.
The statute of frauds does NOT cover which of the following contracts? Bridgeby enters into a contract for the sale of her house. Ruelle and Randolph enter into a pre-nuptial agreement. O Quincy accepts Cleo's offer to buy from Cleo her couch for the price of $4,000. Jasper, the executor of the estate of Gabrielle's dead cousin, agrees with Gabrielle that Gabrielle will pay a debt of that estate: Gabrielle will inherit three-fourths of the estate, with the rest going to various charities. O For the price of $599. Millie enters into a contract with a merchant, Reesa, to buy from Reesa some wrenches with an estimated barter value of approximately $620.
Evaluate when a promise is enforceable, the elements of a contract, performance, and the remedies available in the event of breach.
3
9. Which of the following statements are correct in relation to Carlill v Carbolic Smoke Ball Company (1892)? Select all that apply. O The newspaper advert was an offer O Mrs Carlill did not need to communicate her intention to accept the offer O The advert was a mere sales puff O The newspaper advert was an invitation to treat O A valid unilateral contract was formed between the parties O Mrs Carlill accepted the offer by fulfilling the conditions in the advert
Under our NCC, an heir may institute an action for rescission of a rescissible contract in his capacity as a representative or successor-in-interest of a person who suffers from lesion or of the creditor who is defrauded. Suppose, however, that it can be established that the decedent, during his lifetime, entered into a contract with another in order to defraud him of his legitime, can he institute an action for the rescission of such contract after the death of the decedent?
What is the definition of consideration and what general principles apply to its presence in contracts? Define promissory estoppel.
An 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. Critically discuss this statement, with the following requirements; Using Five (5) applicable case laws on the subject matter to include Carlill v Carbolic Smoke Ball CO (1893), Payne v Cave, Felthouse v Bindley and Adams v Lindsell For the cases above, State clearly The issue Basic facts of the Cases The Judgement
Assume an agent is given authority by the principal to sell a property. The principal only states that the agent may sell the property and the agent is given no further instructions. The agent reasonably believes that it will be necessary to perform $10,000 worth of improvements on the property in order to sell it. Therefore, the agent contracts to have these improvements made. He/she then sells the property. The principal believes that the improvements were not authorized and refuses to reimburse the agent for the expenses associated with the sale. Discuss the rights and liabilities of the principal and agent. Should the principal be forced to reimburse the agent? If the principal continues to refuse to reimburse the agent, what action may be taken by the agent? If the parties were to engage in a lawsuit, who would win? Why? If the answer depends on information not provided in the scenario, specify what further information one would need to render a firm opinion.
State the effect of illegality on a contract.
On May 14, a prospect completes an application for insurance. The producer collects the initial proman and a conditional recept. The manos company determines that the prospect is insurable and issues a standard policy on May 26. If the producer delivers the policy to the insured on June 1, the effective date of coverage A May 14 May 24 May 26 June 1 OB ●C. OD.

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Offer, acceptance, and consideration are necessary elements of: OA. a warranty a representation OB. OC. COD. a contract insurable interest