Bilateral mistake - Study guides, Class notes & Summaries

PVL3702 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024 - DUE 9 April 2024 ;100% TRUSTED workings, explanations and solutions. for assistance Whats-App.......0.6.7..1.7.1..1.7.3.9 .......... Question 1 Answer saved Marked out of 1.00 Flag question Question text Gary points a loaded gun at Pete, and orders him to sign a written contract. Gary explains that the document is for the sale of Pete’s car to him (Gary), at a price of R50 000 which is far below the market value of the car. Pete, feari...

AIC 301 Exam Questions With All 100% Correct Answers What are the elements of a legally binding contract? - Answer -To be legally binding, contracts must: • Contain an agreement between all parties • Involve parties with the legal capacity to contract • Contain mutual assent • Involve consideration • Have a legal purpose • Be in the form prescribed by law What are the similarities and differences between bilateral and unilateral contracts? - Answer -In bilateral con...

Well-structured PVL3702 Assignment 2 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). .... Question 1 Answer saved Marked out of 1.00 Flag question Question text Gary points a loaded gun at Pete, and orders him to sign a written contract. Gary explains that the document is for the sale of Pete’s car to him (Gary), at a price of R50 000 which is far below the market value of the car. Pete, fearing for his life, signs the document. Which cause of ...

Having lost his job in the recent recession and facing property taxes that were past due, Ed was desperate for cash. He sold his prized 1969 Mustang to a good faith purchaser for value at a price that was well below its market value. Ed now regrets this decision and asks if he has any legal basis for rescinding the contract. Please advise Ed a. no, this was a valid bargained for exchange with a good faith purchaser for value b. yes, he van rescind the contract based on innocent misrepresent...

A legal defense renders a contract unenforceable, even though it has the necessary elements of a valid contract. T/F correct answers True Ally, a minor, purchases a car from a used-car dealer. The law allows minors the right to cancel a contract until the time the minor turns 18. The contract between Ally and the dealer is a voidable contract. a void contract. a valid contract. an unenforceable contract. correct answers a voidable contract. A handyman goes to the wrong house by...

Sid Salesman sold Bea Buyer a used 2004 Camry for 8,000. The morning after the contract was signed, Sid called Bea to say that he had forgotten that the dealership would not let that Camry go for less than 9,000 so she would have to pay an additional 1,000 if she wanted the car. Is Bea liable for the extra 1,000? a. yes, this was a unilateral mistake of fact by Sid b. no, this was a unilateral mistake of fact by Sid c. yes, Sid has the defense of economic duress d. yes, this was a bila...

British Textile Manufacturer entered into a contract with Cotton Broker for 2,000 bales of cotton to be shipped from India to England on the ship "Peerless, sailing from Bombay." The contract was silent about the shipping date. Buyer expected the cotton to be shipped on the Peerless that sailed from Bombay in October; seller expected to ship the cotton on the Peerless that sailed from Bombay in December. By the time the second ship arrived in England, buyer had found another supplier and refus...

Capacity correct answers ability of a person to enter into a valid contract ** Age and Mental Condition What are the 6 requirements of a valid contract? correct answers OACLCI Offer, Acceptance, Consideration, Legality, Capacity, Intent Bilateral contract correct answers Promise for a Promise; contract is created at the time of promises Unilateral contract correct answers promise for performance; completed when act is completed Mutual assent correct answers meeting of the minds ...

Colorado Contracts & Regulations Part II| Unit Questions and Answers| Rated A What is the difference between a "bilateral" and "unilateral" contract? A bilateral contract involves mutual promises between two parties, while a unilateral contract involves a promise made by one party in exchange for an act by another. In Colorado, what is the statute of limitations for enforcing written contracts? The statute of limitations is generally six years for written contracts in Colo...

North Carolina Paralegal Certification Test (2024) || All Questions & 100% Correct Answers North Carolina Paralegal Certification Test (2024) || All Questions & 100% Correct Answers Capacity - ANSWER - ability of a person to enter into a valid contract ** Age and Mental Condition What are the 6 requirements of a valid contract? - ANSWER - OACLCI Offer, Acceptance, Consideration, Legality, Capacity, Intent Bilateral contract - ANSWER - Promise for a Promise; contract is created at th...