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Business law - Contract Law questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating
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Business law - Contract Law questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating

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  • August 5, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • business law contract law
  • business law contract law questions and correct

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  • Commercial Construction
  • Commercial Construction

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Business law - Contract Law
Acceptance - means we have an argument - ANS-1. If we have a bilateral contract (promise for
a promise),
2. b. unilateral contract only works with complete (100%) performance - promise for an act (
person doesn't accept until the work is preformed). It's accepted and completed all at one time.
If you tell someone who 90% complete painting your house a qusi contract.

Accepts upon dispatch - ANS-mailbox rule ( only applies for acceptance)

How avoid is this by putting clause in your contract staying it can only be accepted in person.

Bilateral - ANS-for a promises
Example you rent my apartment, you pay $X)

By operation of law - rejection - ANS-i. Counter offer
ii. Death and incapacity
iii. A subsequent illegality

Communication - ANS-Can be controlled:
1. The offer must be communicated to you
2. Advertiser have some protection
3. Reward - limited to offered and aware

Consideration - ANS-Bargained for exchange. It is anything of value promised to another when
making a contract. It can take the form of money, physical objects, services, promised actions,
abstinence from a future action, and much more. Consideration to create a legally enforceable
contract entails a detriment to the promisee OR a benefit to the promisor

Contract - ANS-between two or more parties that is enforceable by the court of law

Contract laws and damages - ANS-No punitive damages unless a tort is also committed in the
breaching of the contract. Contract simply offer recovery at fair market value

Contract that need to be writting - ANS-a. Any contract for sale of land
b. Any contract for more than one year

Contract with undue influence - based on relationship of trust - ANS-Based on relationship of
trust / fiduciary - position of trust
1. Expertise - Dotor patient, lawery client - the burden is always on the party trying get out of the
contract

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