Robin and Marcy enter into an Exclusive Agency agreement. What is the ideal way Robin and Marcy can terminate the Exclusive Agency agreement? O A mediator is hired to resolve the Exclusive Agency agreement. O Robin and Marcy to go arbitration. • The agreement expires and both parties walk away from the contract. O Robin finds a buyer for Marcy and the parties close on the transaction.
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- Sage and Daryl enter into a contract where Sage will make 10 items of jewelry per month, and Daryl will pay Sage $200 per month for the jewelry. Daryl hopes to sell the jewelry at local farmer's markets. Daryl and Sage have a(n) a. bilateral contract. b. unilateral contract. c. unenforceable contract because Daryl is hoping to sell the jewelry at local farmer's markets but might not be able to do so. d. void contract because Daryl did not tell Sage about his resale plans.Ho, Io, and Jo formed an ordinary partnership, called 3OS, some 5 years ago. Question Ho is a sleeping partner, whereas Io and Jo are active in the running of the business. Ho’sliability for partnership debts was agreed between the partners to be limited to the amountof his capital contribution, £15,000.Which of the below best describes the liability of Ho, Io, and Jo for partnership debts?A It is joint and several which means that several of the partners can be sued and since Ho isa sleeping partner he is not liable for any of the debtsB It is joint and several which means that all partners, excluding Ho, have unlimited personalliability and could be sued and required to pay the full amount of all the debtsC It is joint and several which means that all partners, including Ho, are responsible for ashare of the partnership debts in the same proportion as they share out the profitsD It is joint and several which means that each and every partner, including Ho, is fully liablewithout…Partnership Formation. Daniel is the owner of achain of shoe stores. He hires Rubya to be the manager of anew store, which is to open in Grand Rapids, Michigan. Daniel, by written contract, agrees to pay Rubya a monthly salaryand 20 percent of the profits. Without Daniel’s knowledge,Rubya represents himself to Classen as Daniel’s partner andshows Classen the agreement to share profits. Classen extendscredit to Rubya. Rubya defaults. Discuss whether Classen canhold Daniel liable as a partner. (See Partnerships.)
- 4) Which of the following are the creations of agency:- 1. Express appointment II. Necessity III. Implied appointment IV. Ratification a) I, II & III b) I, III & IV c) II, III & IV d) All of above 5) Which of the following is NOT the example of an agency contract. a) Partners-Firm b) c) Doctor-Patient d) Husband-Wife Employer-Employee 6) which legislation governs the agency contract in Malaysia? a) Sale of Goods Act 1967 b) Hire Purchase Act 1957 c) Agency Regulation 2016 d) Contracts Act 1950QUESTION 1 Which of the following is a FALSE statement? A. The E-Sign Act completely prevents the use of electronic signatures for contracting on the Internet. B. If an employer wants to preserve the at-will employment status of his or her employees, the employer should insert disclaimers in its codes and handbooks that nothing therein can be construed to create an express or implied employment contract. C. A basic principle of the National Labor Relations Act is that employers cannot terminate employees in order to discourage or encourage union membership. D. “Going public” by a company offering to sell shares of stock to the public typically results in access to broader financial markets from which to obtain capital. QUESTION 2 1. The tort of assault and the tort of battery are: A. Two names for the exact same tort. B. Strict liability torts. C. Independent torts which can occur separately from one another. D. Require proof of each of the separate elements of negligence.…14. A contracts with B to mow his lawn and rake up fallen leaves. If A and B agree that B will fertilize his flowers instead of raking to satisfy B's contractual obligations; this is called: a) a Novation. b) an Accord. c) mitigating damages. d) substantial performance.
- Question 1Amy and Bianca intended to form a company called Flexible Co Ltd to engage in trading. Before the company was incorporated, Amy and Bianca signed a lease agreement with Fix-a- deal Co Ltd in the name of Flexible to rent an office in Tsim Sha Tsui. Three months after Flexible’s incorporation, Amy met Cyril who mentioned that he had an office of about the same size to let at a much lower rent. Amy and Bianca went to see the premises and found it very suitable for their business. They wish to repudiate the existing lease and take up a new lease with Cyril.Advise Amy and Bianca. Question 2By reference to relevant section(s) of the Companies Ordinance, explain the effects of incorporation.BUSINESS LAW EXPERT PLS ATTAIN THIS 1. An offer to contract was made to you by email. You decided to accept that offer and replied by email stating your acceptance. When is the acceptance validly communicated? 2. P entered into a 10-year lease of a warehouse. Thereafter, the local authority closed the only street access to the warehouse because of a dangerous building. The street was to be re-opened after the dangerous building was demolished. Discuss whether P could refuse to pay rent and have the contract set aside on the basis of frustration.State whether the following agreements or contracts are void, voidable valid, and provide a reason for your answer Q.2.6 Paul, an unrehabilitated insolvent, enters into an agreement to sell an asset which is excluded from the insolvent estate.Q.2.7 Jennifer is married to Mark in community of property. She signs surety for a loan that her sister has taken out, however she did talk to Mark about it over the telephone and he verbally agreed. Q.2.8 Caleb, aged 10, accepts a donation from his grandparent. Caleb was not assisted by a parent.
- Mike and Jeff are still running a law practice in French Polynesia as a general partnership. The partnership currently rents a building in the city of Papeete. The landlord approaches Mike about selling the partnership the building. Mike agrees and signs a contract on behalf of the partnership. Jeff hear about it and calls the landlord and says that he is not interested in buying the building. Is there a valid contract to purchase the building?All but which of the following must be present in order for a contract may be voided based upon mutual mistake? Multiple Choice 1. The mistake must result in a material effect on the contract. 2. a basic assumption about the subject matter of the contract is present. (Incorrect answer) 3. An adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement occurred. 4. Both of the parties were negligent in their representations to the other party.Teresa and Kensington enter into an employment contract that contains an unenforceable arbitration clause. Teresa sues Kensington, but Kensington wants the contract to remain effective. How can the court rule that the contract is still valid? a. If the contract contains an integration clause, the court may delete the unenforceable clause and enforce the rest of the contract. b. If the contract contains boilerplate, the court may delete the unenforceable clause and enforce the rest of the contract. C. If the contract contains a severability clause, the court may delete the unenforceable clause and enforce the rest of the contract. d. If the contract contains representations and warranties, the court may delete the unenforceable clause and enforce the rest of the contract.