In order for a contract to be valid, it must
7. In order for a contract to be valid, it must a. Be made by a writing signed by adults. b. Be fully performed on both sides. c. Contain an offer, acceptance, and consideration. d. Be properly filed. 8 Generally, which of the following statements relating to contractual capacity is correct ...continues
What is the effect of one party being mistaken about the subject matter of a contract?
What is the effect of one party being mistaken about the subject matter of a contract? a. The mistaken party can rescind the contract. b. Either party can rescind the contract. c. Either party can rescind the contract, and the mistaken party can recover damages. d. Either party can rescind the contract and/or recover damag ...continues
Mary is hired by Acme business forms.
Mary is hired by Acme business forms. Acme sells forms only in one state and Mary's territory is the Northern half of the state. Mary signs an employment contract that has the following clause. In the event Mary resigns her position with Acme, she shall not engage in selling business forms for any other company located a ...continues
Unilateral Contract/LLC Partnership
1. When there is a unilateral mistake, in what three types of situations may a contract not be enforced? Explain your answer. 2. Discuss which entity has less potential liability and greater tax advantages, a partnership or an LLC? Discuss in detail.
Liability Contract Clause is demonstrated.
Joe Bob promised his wife he would aerate the lawn this weekend. So, Joe Bob hoes to Eddie’s Rentals and signs an equipment lease for the day for a grass dethatcher, sometimes called a verti-cutter. The contract contains this clause: “Lessor disclaims all liability arising from injuries caused by use of this equipment.” Joe B ...continues
Grocery and Online Contracts and Advertisements
Please assist with this question: Grocery has recently developed an online ordering service for home delivery within a 10 mile radius of each its stores. In order to use the service, Grocery requires customers to agree to terms and conditions of a contract the first time a customer enters an online order. The contract specifi ...continues
Scenario: Grocery, Inc. is a retail grocery store chain based in Any State, U.S.A. Grocery has stores throughout the United States. Tom Green works as the produce manager for the store in My Town, U.S.A. Jeff Fresh, 17 years old, is spending his summer vacation working for Tom in the produce department. 4) Grocery has recentl ...continues
Intoxicated person entering into a contract
I am curious as to why a person who is claiming that he or she was unable to enter into a contract based on his or her inability to understand the terms of the contract due to intoxication would not put on evidence of incapacity? Through their own testimony, it can be established how many drinks, they had. An expert can testify ...continues
A minor, unable to live at home, contracts to rent an apartment for one year at $600 per month. After living there for three months, he disaffirms the contract. The reasonable value of that apartment was only $500 per month. Assuming no rent has been paid, the minor must pay: a. Nothing; the contract has been ...continues
As a businessperson, what role do you think ethics plays in contract dealings? What examples or suggestions can you provide based on your experiences?
