State whether the following contracts are valid, unenforceable or illegal. a) Sam pays $10,000 to dispose of his mother-in-law b) Ernie offers $20,000 to Emilio for Emilio’s block of land. Emilio accepts, but nothing is signed c) Fred asks ABC Insurance to insure his new car. The company agrees but nothing is signed. d) Zoe agrees to lease a shop from Ian for 10 years. No lease has been signed. e) X and X are bank robbers. They employ George to drive their getaway car.

State whether the following contracts are valid, unenforceable or illegal. a) Sam pays $10,000 to dispose of his mother-in-law b) Ernie offers $20,000 to Emilio for Emilio’s block of land. Emilio accepts, but nothing is signed c) Fred asks ABC Insurance to insure his new car. The company agrees but nothing is signed. d) Zoe agrees to lease a shop from Ian for 10 years. No lease has been signed. e) X and X are bank robbers. They employ George to drive their getaway car.

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a real estate broker may do all the following except A. disclose the highest price the buyer is willing to pay B. obligated to render faithful services
1. Which of the following describes when a person does not understand that a contract is being made or does not understand its general nature due to a mental condition caused by medication, drugs, alcohol, illness, or age. Factual incapacity Status incapacity Infactual incapacity Illegal incapacity 2. It’s possible the validity of a contract may be affected if one or both parties made a mistake. True False 3. Which of the following is not a problem area in determining whether the parties to a contract have genuinely agreed to be bound by the terms: Lack of contractual capacity Deception Pressure Privity of contract Mistake
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