Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 20, 2024

Question 2 (25 marks) Consideration and an intention to create legal intention are two of the elements needed to form a valid contract. Required: (a)

Question 2 (25 marks) Consideration and an intention to create legal intention are two of the elements needed to form a valid contract. Required: (a) Define consideration and explain the THREE (3) rules on consideration. (13 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 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

Dynamic Business Law The Essentials

Authors: Nancy K. Kubasek, M. Neil Browne, Daniel J. Herron, Lucien Dhooge Sue

3rd edition

007802384X, 1260247899, 9781260247893, 978-0078023842

More Books

Students also viewed these Law questions

Question

★★★★★

Chinook Corporation started the year ended November 30, 2015, with 60,000 common shares and no preferred shares issued. The following changes in share capital occurred during the year: Feb. 28 Issued...

Answered: 1 week ago

Question

★★★★★

Use eIFRS to determine how the accountant would conduct an impairment test for long-lived assets. a. Which authority describes the impairment test? b. What process did you use to find the authority?...

Answered: 1 week ago

Question

★★★★★

What do Barber and Odean (2001) theorize is a key factor in explaining the difference in investor behavior across gender? What evidence do they provide to support their argument?

Answered: 1 week ago

Question

★★★★★

Sikes Hardware is adding a new product line that will require an investment of $1,500,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $315,000...

Answered: 1 week ago

Question

★★★★★

The manager at Rainbow International prepares a Cost of Quality report to report the following expenses: $6,400 Inspection of raw material costs Warranty costs warranty claims $220,000 $13,000 Cost...

Answered: 1 week ago

Question

★★★★★

Sue Sussman started a paper route on January 1, 2002. Every three months, she deposits $500 in her bank account, which earns 4 percent annually but is compounded quarterly. On December 31, 2005 she...

Answered: 1 week ago

Question

★★★★★

Question 4. (11 points) Assume that a closed economy is characterized by the following equations: Consumption: C = 100 + (2/3) (Y -T) Tax: T = 600 Government spending: G = 500 Investment: I = 800 -...

Answered: 1 week ago

Question

★★★★★

1.Suppose you have two part-time jobs, Restaurant Server and Uber Driver. After younger servers start working for less, employers pay only $11 instead of $14 per hour. What happens to your supply of...

Answered: 1 week ago

Question

★★★★★

Problem 1 - Brinell E Rockwell El Bookmark this page Test clue Jul 2?, 202212200 {33 Brinell 8. Rockwell D.Dl'2. points [gradedl Brinell s Rockwell lBaRl is a high-end manufacturer of cutting and...

Answered: 1 week ago

Question

★★★★★

What is the expected change in production volume, on average, as the number of factory workers decreases by five? Please enter the value of the expected change in production volume with ONE digit to...

Answered: 1 week ago

Question

★★★★★

The company has the following beginning balances in its stockholders\' equity accounts on January 1 , 2 0 2 4 : Common Stock, $ 1 0 0 , 0 0 0 ;Additional Paid - in Capital, $ 3 , 7 0 0 , 0 0 0 ; and...

Answered: 1 week ago

Question

★★★★★

Reading Correlational Tables Table 2. Bivariate Correlations for Study Variables (N = 50) Variable 2 3 4 5 6 1. HF symptoms 2. Social network -.136 3. Social support -.230 .8291 4. Maladaptive...

Answered: 1 week ago

Question

★★★★★

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago

Question

★★★★★

5. Which metaphors do you mainly use when talking about organizations and companies? What do these metaphors express about an organization or a company? Are there other metaphors that may be more...

Answered: 1 week ago

Question

★★★★★

4. Using the same examples you gave in question 3, try to identify circular sequences, i.e. A affects B, but B also affects A.

Answered: 1 week ago

Previous Question Next Question