What is the Statute of Frauds and to what type of agreements does it apply?
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What is the Statute of Frauds and to what type of agreements does it apply?
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- Can they go to court in case of non-compliance with the terms of the licenses? Support your answer.Conclusion: State your point of view on this topic. Do you feel confident with the way electronic contracts are worked?Describe how and why businesses must factor in the legal environment when operating a business. Are contracts important and if so, why?Please list and describe the different categories of Intellectual Property.
- In relation to Consideration select the CORRECT statement:Select one:To be valid, the agreed price and the goods sold, must be of equal value.Consideration can be vague or illusory as long as it was communicated to the other partyConsideration is the exchange of something of value (a thing, a promise, money etc), given in return for something else of value (a thing, a promise, money etc)Consideration is not necessary to form a legally binding contractTo be valid, Consideration must involve payment of money, in return for something of value.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.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.
- Pick the right option What is the term the Uniform Commercial Code (UCC) gives to a person who seeks to enforce a negotiable instrument that is lost, stolen, or destroyed? -Beneficiary -Non-holderExplain what Corporate Veil is, how it can be lifted and what are the situation, in common law corporate veil is lifted.Discuss why the concepts of contractual impossibility and frustration of purpose exist. Include an examination of how these concepts help ensure fairness to all parties. Also, what are the drawbacks to these concepts?