False 2.5 points Question 3 1. A novation revokes and discharges a prior contract. AnswerTrue False 2.5 points Question 4 1. All collateral promises must be in writing to be enforceable. AnswerTrue False 2.5 points Question 5 1. Steven‚ who is Bertha ’s guardian‚ convinces her to buy a certain parcel of land from Christy at a greatly inflated price. Steven may be liable for Answer | | duress. | | | fraud. | | | puffery. | | | undue influence. | 2.5 points
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Examples of contracts: Valid contract: A homeowner (who is over the age of 18 and of sound mind) signed a contract with the appliance store to buy a refrigerator. The homeowner pays for the refrigerator and the appliance store presents the refrigerator for the homeowner to take home. Void contract: Contract that was between an illegal drug dealer and an illegal drug supplier to purchase a specified amount of drugs for a specified amount. Either one of the parties could void the contract since there
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THE DOCTRINE OF UNCONSCIONABILITY: IS IT APPROPRIATE FOR IT TO BECOME THE UNDERLYING PRINCIPLE FOR A CLAIM OF VOIDABLE CONTRACTS ON THE GROUNDS OF UNDUE INFLUENCE? Table of Contents 1.0 Introduction 3 2.0 Concept of undue influence 3 3.0 Doctrine of unconscionability
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evidence rule enacts a principle of the common law of contracts that presumes that a written contract embodies the complete agreement between the parties involved. The rule therefore generally forbids the introduction of extrinsic evidence (i.e.‚ evidence of communications between the parties which is not contained in the language of the contract itself) which would change the terms of a later written contract. In order for the rule to be effective‚ the contract in question must be an integrated writing;
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Q1: What is a tort? Tort: A civil wrong not arising from a breach of contract; a breach of a legal duty that proximately causes harm or injury to another. Q2: What are the four elements of negligence? They are Duty‚ Breach‚ Injury‚ and Causation. Q3: Is Shannon liable for the tort of negligence? Yes‚ she is. First of all‚ she has been told by her physician that not to drive after taking the medication. Thus she has the duty not to drive in order to take care
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client as the followings:- 1. Breach of law or misconduct A solicitor who has accepted instructions to act is under a duty to uphold the law and to observe the rules of professional conduct; a client must accept these limitations on the performance of a retainer. 2. Competence to Act This obligation to refuse or to cease to act is a consequence of the ethical responsibility to act competently and promptly in carrying out any retainer. 3. Duress or Undue Influence If a solicitor suspects
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Chapter 11……….Contracts‚ Consideration‚ Capacity and Legality Consideration: Value given in return for a promise. Consideration must be (1) legally sufficient and (2) bargained for by the party receiving it. Legally sufficient consideration may take the form of: (1) promising to do something that the promisee has no prior legal duty to do (e.g.‚ promising to pay money for the promisor’s goods); Regular consideration (2) performing an action that the promisee is not otherwise obligated to
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Chapter 10 Contract Performance‚ Breach‚ and Remedies N.B.: TYPE indicates that a question is new‚ modified‚ or unchanged‚ as follows. N A question new to this edition of the Test Bank. + A question modified from the previous edition of the Test Bank. = A question included in the previous edition of the Test Bank. true/false questions 1. A material fact is a fact that a reasonable person would consider important when determining his or her course of action. answer: T PAGES: Section
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Which of the following contracts must be written according to the statute of frauds: A PRENUPTIAL AGREEMENT A contract for a $300.00 automobile A contract to paint a house A contract to wash someone’s car 5 points QUESTION 2 John offers to sell his car to Mary for $5000 and Mary responds‚ saying "I’ll give you $4500." Mary’s statement constitutes a(n) COUNTEROFFER. revocation of the offer. acceptance. modification. 5 points QUESTION 3 A contract made by a minor is VOIDABLE
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CAUSES OF EXTINGUISHMENT OF OBLIGATION 1. Payment or performance 2. Loss of the thing due 3. Condonation or remission of the debt 4. Confusion or merger of rights of creditor and debtor 5. Compensation 6. Novation I - PAYMENT OR PERFORMANCE PAYMENT means not only the delivery of money but also the performance‚ in any other manner of an obligation. How must the payment be made? 1. There must be delivery of the thing or rendition of the service that was contemplated. a. The debtor of a thing cannot
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