BGEN 235 EXAM QUESTIONS CORRECTLY ANSWERED.

BGEN 235 EXAM QUESTIONS CORRECTLY ANSWERED. What is a Moral Obligation - CORRECT ANSWER choosing to do what is right because you believe that it is the right thing to do. What is a legal obligation - CORRECT ANSWER its you legal duty to do something though the court of law. Definition of a Contract - CORRECT ANSWER an agreement that can be enforced in court What is Objective Theory of Contract - CORRECT ANSWER the contract should be determined by outward facts What are the elements of a contract (5) - CORRECT ANSWER Offer, Acceptance, Consideration, Capacity, Legality What are the defenses to enforce ability? - CORRECT ANSWER Voluntary consent and other forms What are the types of contract pairs?(5) - CORRECT ANSWER Bilateral/ Unilateral expressed/implied quasi contract formal/ informal executed/executory Bilateral vs Unilateral - CORRECT ANSWER bilateral- promise for a promise Unilateral- promise for a performance Expressed/ Implied - CORRECT ANSWER Expressed- contract stated in words or in writing Implied- contract formed from conduct of parties Quasi Contract - CORRECT ANSWER contracts implied by law Formal/ informal - CORRECT ANSWER formal- a contract that requires specific format informal- a contract that does not require a specific format executed/ executory - CORRECT ANSWER executed- a contract that has been fulfilled executory- a contract that has not been fully fulfilled