Answer these questions:

1)Bart offers to buy Clara's boat for $30,000 on April 1. Clara tells Bart that she likes his offer, but that she needs him to pick up the boat on March 30 as she will be leaving on holidays the following day. Are Bart and Clara in a binding contract? (Why or why not?)

2)Daniel offers to sell his bicycle to Edmond for $1000. Edmond tells Daniel that he really wants the bicycle, but unfortunately, he can't afford it. Later that afternoon, Edmond buys a lottery ticket and wins $1000. He goes to Daniel's house and tells him he accepts his offer. Are Daniel and Edmond in a binding contract? (Why or why not?)

3)Ryan enters into a contract with Sandra whereby Sandra will steal Bob's car and he will pay her $10,000. After Sandra steals the car and delivers it to Ryan, Ryan refuses to pay her. Are Ryan and Sandra in a binding contract? (Why or why not?)

4)Tom has a party at his house and invites Veronica. Tom drinks a few alcoholic drinks, but Veronica has to drive home, so she remains sober. Veronica tells Tom how much she likes his car and Tom tells her that he will sell it to her for $10,000. Tom smells strongly of alcohol and is having a hard time standing up, but nonetheless, Veronica accepts his offer, writes him a cheque and takes the car. The next day, Tom realizes what he has done and asks Veronica for the car back, but she says that she bought it fair and square. Is there any argument that Tom can advance to overturn the contract? (Pleasediscuss all the elementsof the argument.)

5)Doug owes Edward $5000 and has paid him $1000 towards the debt. Doug isn't sure he can come up with the remaining $4000, so he approaches Edward and tells him that he will pay him $2500 if Edward will cancel the remaining outstanding amount of $1500. Edward accepts, but later that month he sues Doug saying that there was no fresh consideration for his promise. Does Doug have any argument to enforce the deal?

6)Edith (an 80 year old woman) has signed a contract to sell her house to Rachel for $100,000.00.The market value of Edith's house is $190,000.00.Rachel is the common-law wife of Edith's son, Fred.Edith was unsure whether she should sell her house to Rachel for this price, but Fred convinced his mother that it was a "good deal".This situation may be an example of______________.

7)Give an example of a unilateral contract. Identify the element that distinguishes it from a bilateral contract.

8)Compare and contrast a condition precedent and condition subsequent. Provide an example of each.