Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

26. In the case of Lucy v Zehmer, regarding the issue of intoxication, the court concluded: a. that Zehmer's intoxication prevented him from being able

image text in transcribed

26. In the case of Lucy v Zehmer, regarding the issue of intoxication, the court concluded: a. that Zehmer's intoxication prevented him from being able to agree to a contract; b; that intoxication rendered the contract Illegal; c. that the seller (Zehmer) was not sufficiently intoxicated to prevent him from having the capacity to contract; d. that Zehmer had not been drinking. 27. In Hamer v Sidway, the court ruled that: a. the contract was unenforceable because the nephew was a minor; b. that the contract did not have a legal purpose; c. that the uncle's promise to pay was sufficiently supported by consideration and was enforceable; d. that the contract was barred by the statute of limitations. 28. The following contracts must be in writing to be enforceable: a. contracts in contemplation of marriage; b. contracts transferring any interest In real estate; c. contracts that cannot be performed within a year; d. all of the above. 29. The following are recognized exceptions to the Statute of Frauds: a. a memorandum setting forth the terms of the agreement; b. an admission in a court pleading; c. partial performance of the contract by one of the parties; d. all of the above. 30. In determining whether or not the parties intended to enter into a contract, the courts use the _theory of contract Interpretation. a. subjective; b. objective; c. Socratic; d. historical 31. The "meeting of the minds" concerns this element of a contract: a. agreement; b. consideration; c. capacity; d. legality. 32. A promise is deemed supported by adequate consideration if the person making the promise: a. put the promise In writing; b. notarizes their signature; c. gives up something of value; d. all of the above. 23. If both parties to a contract are under a legal obligation to nerform rursuant to

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions