Set out the differences between essentialia, naturalia and incidentialia comprised in a contract. with examples.
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Set out the differences between essentialia, naturalia and incidentialia comprised in a contract. with examples.
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- 16. Why are restrictive covenant clauses controversial? They are controversial because they allow people to create contract terms that restrict their future right to alter those same contracts They are controversial because they allow people to create contract terms below the otherwise legislated minimum standards of work They are controversial because they seem to pit two legitimate interest against each other: the right of trade against the right of contractConditions 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 immediatelyWHAT 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.Which of the following is true of a severable contract? Multiple Choice It must be enforced or rejected in its entirety. It contains multiple parts that need to be performed collectively. It has both legal and illegal portions in the contract. It needs complete performance by both parties.Identify FOUR (4) ways to terminate a contract, esplain it briefly and include examples
- 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.explain the following terms in your own words and understanding and give specific examples. - Obligations - Contracts - Law - Quasi-Contracts - Quasi-Delicts
- Explain what Corporate Veil is, how it can be lifted and what are the situation, in common law corporate veil is lifted.Why is past consideration no consideration at all? The adequacy of past consideration is difficult to determine. Past consideration is considered to be illusory. Past consideration may involve parties who are not involved in the current contract. Past consideration was provided before the current contract was made, and the current contract requires a benefit that has not yet been conferred.If a minor purchase a $150.00 pair of designer blue jeans the merchant may be unable to enforce this contract because: a) the jeans were a necessity. b) clothes are a statutory contract. c) designer jeans are a luxury. d) only emancipated minors wear jeans. 2. An adult who intentionally drinks so much liquor as to have their judgment impaired will a) easily defeat a contract they entered in to while drunk b) have no chance of winning under any circumstances. c) probably lose, voluntary intoxication is usually a poor defense. 3. Which of the following must a person possess to have contractual capacity? a) Comprehend the nature of the Contract b) Comprehend the purpose of the Contract c) Comprehend the consequences of the Contract d) All of the above are required