Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Let's summarize the general rules of contract formation: If a contract lacks consideration, the contract is Blank 1 Question 5 . If one or both

Let's summarize the general rules of contract formation:
If a contract lacks consideration, the contract is Blank 1 Question 5.
If one or both of the parties lack capacity to contract the contract is Blank 2 Question 5.
If the subject of the contract is illegal, the contract is Blank 3 Question 5.
If there is no consensus, the contract is Blank 4 Question 5.
If the contract is verbal, the contract is Blank 5 Question 5, but may be unenforceable if there is a requirement that the contract be in writing (i.e. requirements under the Statue of Frauds).
If the contract was entered into under duress, the contract is Blank 6 Question 5.
If one of the parties was the subject of undue influence, the contract is Blank 7 Question 5.

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_2

Step: 3

blur-text-image_3

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

Understanding Management

Authors: Richard L Daft, Dorothy Marcic

6th Edition

9780324581782, 324581785, 978-0324568387

More Books

Students also viewed these General Management questions