With reference to contract law terms: Define exclusion clauses and what their effect is.
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: Consideration can be defined as “something of value in the eyes of the law”, but consideration is…
A: A promise, an act, a forbearance, or anything of value that is exchanged between parties to a…
Q: Regarding legality, the first right granted to minors in contract law cases is the right to…
A: Navigating the complexities of contract law, especially concerning minors, requires a clear and…
Q: Discuss five (5) circumstance each, that could cause termination or renewal of contract between two…
A: The objective of this question is to identify and discuss five circumstances each that could lead to…
Q: With reference to contract law terms: a) Define exclusion clauses and what their effect is.…
A: Contract law is a crucial aspect of legal systems, governing the rights and obligations of parties…
Q: Which of the following is correct about implied and express contracts? Implied contracts can be…
A: Contract law effectively establishes the process of agreement development, implementation, and…
Q: What are covenants not to compete? How do courts decide on the legality of these covenants?
A: In general, a covenant is a binding agreement or promise between two or more parties. The term is…
Q: Buyer Beatrice has entered into an exclusive buyer single agency agreement with Broker Nate. The…
A: The question is asking whether Beatrice's concern about Broker Nate's loyalty being compromised due…
Q: e duties discharged by a party under a c
A: Contract: a composed or spoken understanding, particularly one concerning work, deals, or tenure,…
Q: Contractual disputes could be time-consuming, expensive and difficult. They can damage…
A: A contractual dispute arises when one or more parties involved in a contract disagree on the…
Q: A voidable contract Multiple Choice O O O Allows the parties to enforce it if they wish Does not…
A: Contracts are legally binding agreements that require the consent of all parties involved. However,…
Q: Jim is a 15-year-old boy living in London. Briefly explain to Jim the legal position arising from…
A: “Legal position" refers to the legal rights, responsibilities, and consequences that arise from a…
Q: Analyze the circumstances in which a contract of service may be broken by either party of an…
A: In the realm of employment relationships, the termination of a contract of service can occur for…
Q: Briefly describe some of the out-of-court remedies for breach of contract, and briefly explain the…
A: A breach of contract is defined as an act of failing to observe a law, agreement, or code of…
Q: Three cases have been presented to your law office. In each case, your client believes the other…
A: Law plays an integral role in making the judgements related to complex situations. It helps in…
Q: Spritz signs a contract that says that she will paint a mural of her friend Hecuba in exchange for…
A: In this scenario, Spritz signs a contract to paint a mural of her friend Hecuba in exchange for…
With reference to contract law terms: Define exclusion clauses and what their effect is.
Step by step
Solved in 3 steps
- Select the statement that describes how bilateral and unilateral contracts are alike and different. Both contract types involve two parties. But in bilateral contracts, both parties make a promise; in unilateral contracts, only one party does. Both are valid contract classifications, but only bilateral contracts involve two parties. Both are valid contract classifications, but only unilateral contracts involve two parties. Both contract classifications involve two promises, but only bilateral contracts involve two parties.Business law-Explain the process and legal requirements involved in drafting and enforcing contracts in business transactions.
- 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 contractUnder the Uniform Commercial Code (UCC), which of the following remedies is available to both buyers and sellers? Select one: a. Recovering the total value of goods in the contract b. Recovering profit from the resale of nonconforming goods by the other party c. Damages in the amount of the difference between the contract price and the market price of goods d. Obtaining specific performance of the contractEconomics - business law.
- Conditions 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 immediatelyWhich of the following is true regarding whether the buyer and seller may negotiate contractually for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code? Multiple Choice The buyer and seller may not negotiate for a shorter time period to sue for breach of contract, instead, they must recognize the statute of limitations period established by the Uniform Commercial Code. Without limitation, the buyer and seller may negotiater a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code. The buyer and seller may negotiate for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code, so long as the contractually-agreed-upon time period is not for less than one year. The buyer and seller may negotiate for a shorter time period to…WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?
- 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.Analyze how each side interprets the meaning of this contract clause. Whose position is more persuasive? Why? In 1947, Congress passed the Portal-to-Portal Act (a “portal is a doorway). This law said that an employer is not liable to pay workers for the time they spend traveling to work (e.g. an hour-long commute). It also excludes from compensable time, “activities which are preliminary to or postliminary to the principle activity or activities that an employee is employed to perform, which occur either prior to the time on any particular workday at which such employee commences, or subsequent to the time on any particular workday at which he ceases, such principle activity or activities.Samantha signs a contract to buy a brand-new unit in Kogarah. The contract is subject to an extended settlement period of 120 days. Samantha, through her solicitor, transfers the 10% deposit to the vendor’s solicitor and then speaks with her mortgage broker about obtaining a loan. While all this is going on, Samantha sells her own unit in Oatley. She intends to use the money realised from the sale of the Oatley unit to pay the balance of the purchase price of the Kogarah unit. A problem arises when Samantha’s unit does not sell by the expected date. Samantha needed to secure short-term finance at an almost exorbitant interest rate just so she can buy the Kogarah unit. Samantha consults her solicitor, who advises her that she can sue the buyer of her Oatley unit for breach of contract and ask for damages including the additional interest charges she incurred. Is Samantha’s solicitor correct? Explain pls