What are the essential elements that must be present for a quasi contract to be formed?
Q: Every transaction in business creates a contract (agreement) between the parties. To determine…
A: A contract is an arrangement that establishes a legal obligation or liability between two or more…
Q: what are some ethical considerations needed when entering into a contract
A: When entering into a contract, several ethical considerations should be taken into account. These…
Q: example of a contract that is illegal in Florida but legal in some other states in the United…
A: Meaning of illegal contract : An agreement is illegal under common law of contract. It is one of the…
Q: What is contract? Discuss the essential of a valid contract?
A: Contracts are an integral part of business and personal transactions, as they provide a legally…
Q: What are the advantages/disadvantages of the UCC? Describe how the UCC makes (or does not make) a…
A: Uniform Civil Code (UCC) is characterized in the Article 44 of Directive Principles of State policy…
Q: What is Contract in business law and why is it important?
A: Contracts are a fundamental aspect of business law that involves legally binding agreements between…
Q: If a contract was found to be ambiguous, would you rather be the person who wrote the contract or…
A: Law plays an integral role in making the judgements related to complex situations. It helps in…
Q: what is the importance of contracting in a business? Identify the three main elements necessary in…
A: Contract is a binding agreement between two or more parties who sign it.
Q: How can a sales or lease contract be effectively managed to ensure mutually beneficial outcomes for…
A: Effectively managing a sales or lease contract is critical to ensuring mutually beneficial outcomes…
Q: Explain the essential elements of a valid contract, including offer, acceptance, consideration,…
A: Contracts are legally binding agreements between two or more parties. They are indispensable for…
Q: What is the difference between a contract and a verbal agreement? How do you ensure that a contract…
A: A contract is a legally binding agreement between two or more parties that outlines the rights and…
Q: Explain the concept of a void contract in easy terms.
A: An agreement between parties that establishes legally enforceable duties for both parties is called…
Q: (1) Describe a contract you've entered into. (2) Identify the offeror, (3) the offeree and (4) the…
A: Detailed explanation: Let's delve into a recent contract I entered into: (1) The Contract:Recently,…
Q: What is the Statute of Frauds and to what type of agreements does it apply?
A: The Statute of Frauds is a legal principle that originated in English common law and has been widely…
Q: What are the key elements of a valid contract, and what remedies are available for breach of…
A: A valid contract is a legally binding agreement that involves the mutual exchange of promises or…
Q: A contract may be discharged by several ways. Discuss the ways and give your view on each of the way…
A: Discharge of a Contract The term discharge of a contract means the termination of the contract. A…
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- What are the two exceptions to the general rule that an entity should allocate the transaction price based on the relative standalone selling price? Are the percentage-of completion and the completed contract methods both viable alternatives for a given contract Explain Does aggregating the five components of pension cost always result in a reduction in income? Do corporations report the projected benefit obligation and the plan assets as individual accounts on the sponsor corporation’s balance sheet?How can an offer be affected where the terms are not clear?WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?
- What are the essential elements of a valid contract under business law, and how do they contribute to the enforceability of the contract?You've read about the statute of frauds and how it requires certain agreements to be in writing (remember the acronym MYLEGS). Thinking about all contracts, do you think that all contracts should be in writing? Or do you think this would hinder or slow down transactions? Please discuss your thoughts on these questions while keeping in mind the purpose behind the statute of frauds.5. List the six (6) types of contracts that must be in writing.
- Defined as an unconscious ignorance or forgetfulness of the existence or non existence of a fact,past or present,material to the contract.Discuss the relevance and importance of a contractual relationship. Identify the various types of contracts that are required to be in writing.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.