Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Just about every time you open your wallet to pay for something, you enter a contract. In addition, you probably enter contracts in your own

Just about every time you open your wallet to pay for something, you enter a contract. In addition, you probably enter contracts in your own life where something else other than money is exchanged.

For this assignment, think about the last few contracts that you entered or attempted to enter, and answer the following questions about that contract.

Describe the contract that you entered (or attempted to enter). Be sure to use the objective theory of contracts as well as the terms you learned in the readings, resources and lecture to describe the contract. How do you know that what you entered is a contract?

Classify the contract you described.

  • Is your contract bilateral or unilateral? How do you know?
  • Is your contract express or implied? How do you know?
  • Is your contract formal or informal? How do you know?
  • Is your contract executed or executory? How do you know?
  • Is your contract valid, void, voidable or unenforceable? How do you know?

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

Land Law

Authors: Chris Bevan

3rd Edition

0192856766, 978-0192856760

More Books

Students also viewed these Law questions