Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can the presumption that business agreements are intended to be legally binding be rebutted? Which of the following is correct? A commercial agreement is always

Can the presumption that business agreements are intended to be legally binding be rebutted? Which of the following is correct?

A commercial agreement is always enforceable, the parties intend to be legally bound once the contract is entered into, non-enforceability can only arise if the agreement is revoked

The parties to a business contract can expressly state that there is no intention to be legally bound under a contract, the agreement is an honourable one only

A business agreement may not be legally binding, but only if the parties enter into a new agreement, in writing, agreeing that the original contract is not enforceable

Under statute, the parties to a commercial agreement, cannot exclude an intention that a commercial agreement is legally enforceable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Financial Markets And Institutions

Authors: Peter Howells, Keith Bain

5th Edition

0273709194, 9780273709190

More Books

Students also viewed these Accounting questions

Question

Describe four technical features of Darwins theory of evolution.

Answered: 1 week ago