OPEN-ENDED QUESTIONS

1. I was asked by "Mr. Smith" to find a buyer for his restaurant in exchange for a payment of 15% of the sales price if I found a buyer. I did not have a real estate license nor did I claim to have one.I obtained a buyer and was paid one-half of the commission.Smith refused to pay any more commission saying that he did not have to since I did not have a realtor's license as required by state law. Is he correct? He also said that I had to return the part of the commission that he had already paid to me. Is this correct?
2. I have worked for my employer for five years. Last week, he asked me to sign a document entitledCovenant Not to Compete.In this agreement I promised not to compete with him, regarding accounts that I had serviced, for a period of two years after I leave. I did not receive anything for signing this agreement. Where is the consideration? Is this agreement enforceable?
3. Please explain whatcompetentmeans regarding the requirement that an agreement be betweencompetentparties in order for a contract to be effective?
4. My 15-year old son, who looks older, just signed a contract joining a health club which has "dues" of $50.00 a month. Is this contract valid?
5. What does the termconsiderationmean as far as the enforceability of an agreement is concerned?
6. What if my employer threatens to fire me if I refuse to sign the covenant not to compete?
7. What if I were required to sign such an agreement as a condition of being hired?
8. What does the element "lawful objective" deal with?
9. Must a contract be in writing to be enforceable?
10. When is a contract deemed to have been performed ordischarged?
11. What the remedies in the event of a breach of contract?