Correct Answer
verified
Correct Answer
verified
A) There is a contract because at some point in time Mary was willing to sell and Mr. Jones was willing to buy the computer system for $1500.
B) There is no contract because the last offer had lapsed.
C) There is no contract because Mary revoked the offer before Mr. Jones attempted to accept it.
D) There is a contract, because once a seller makes an offer she cannot change her mind; she is bound to receive an acceptance.
E) There is a contract and Mr. Jones has to pay a reasonable price for Mary's old computer.
Correct Answer
verified
Correct Answer
verified
A) Offer
B) Invitation to treat
C) Gratuitous promise
D) Bilateral contract
E) Unilateral contract
Correct Answer
verified
Correct Answer
verified
A) Promissory estoppel
B) Mistake
C) Undue influence
D) Breach of contract
E) Duress
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
It's only necessary that the terms of th...View Answer
Correct Answer
verified
View Answer
A) If Sam accepts by phone within the time specified in the offer, the place of contract would be Calgary.
B) If Jon goes ahead and hires Betsy from Edmonton at noon on February 3, it would be too late for Sam to accept.
C) If Jon revokes his offer before Friday noon, Sam could sue him for breach of contract because he promised to hold it open.
D) If the court held that acceptance by mail was reasonable in the circumstances, if Sam accepts by mail the place of contract is Edmonton.
E) If Sam wants to ensure the promise to keep the offer open until noon, February 6, he should give Jon some consideration (that is, allow him to purchase an option) .
Correct Answer
verified
Correct Answer
verified
A) George told Hans that he would give him his printer. If he doesn't, Hans could use the doctrine to force him to do so.
B) George wants to force Elaine to honour her promise to pay him $2. After he paid for a video they watched, she was so moved by the movie she said she would pay half the cost.
C) This doctrine can be used by a plaintiff to endorse a written promise signed and sealed (i.e., a seal has been affixed next to the signature of the promisor) .
D) Lee, a defendant, can use this doctrine as a defence against a plaintiff insisting on his full legal right when he had promised to forgive Lee some of Lee's legal obligation and Lee relied on that promise.
E) If Lam requests services from Jones and there is no mention of price, if Lam doesn't pay Jones, this doctrine can be used to force Lam to pay a reasonable amount.
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
When it is appropriate to resp...View Answer
Correct Answer
verified
View Answer
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
A binding contract t...View Answer
Correct Answer
verified
View Answer
A) In a bilateral contract, the exchange of promises does not provide consideration for both parties.
B) The common law holds that consideration must be adequate to insure that contracts are fair bargains.
C) Consideration is "the price for which the promise (or the act) of the other is bought."
D) An altered course of action, e.g., forbearance, is not good consideration.
E) In a unilateral contract, the performance of the promisee provides no consideration to the promisor.
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
A formal contract is under sea...View Answer
Correct Answer
verified
View Answer
Correct Answer
verified
Consensus (including...View Answer
Correct Answer
verified
View Answer
A) A written promise to give your husband a ring for Christmas
B) A verbal agreement to work for someone starting next week
C) A verbal agreement for the sale of a car where neither the money or the car has yet changed hands
D) An agreement not to sue someone for negligence in exchange for their promise to pay you a specified amount
E) An implied promise to pay for a meal when you order it
Correct Answer
verified
Correct Answer
verified
A) A kilogram of green beans
B) 50 cents
C) A promise to deliver three tons of steel
D) A promise to give up a legal right
E) Work that was done in the past
Correct Answer
verified
Correct Answer
verified
A) If the bank agrees to accept the $33,000 as payment in full if paid early, by February 15, and the company does as requested, the bank could not later sue for the remainder because the company gave good consideration for the bank's forgiveness of the debt.
B) At common law, if the bank accepted the $33,000 as payment in full, even absent additional consideration, it could not later sue for the remainder because such promises are always binding.
C) If the company obtained from the bank the bank's promise to forgive the $2000 under seal, the bank could not later sue for the remainder.
D) In some jurisdictions, a statutory provision provides that the creditor who accepts less than full payment as payment in full cannot later sue for the remainder.
E) So long as they don't take the money, the bank can still sue for the entire amount.
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Showing 101 - 120 of 184
Related Exams