Standard form contracts are just as enforceable between businesses as contracts that result from extensive negotiations. True False

WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?

What are the essential elements of a valid contract under business law, and how do they contribute to the enforceability of the contract?

Which of the following contracts has the MOST risk for the buyer?A. Cost plus percentage of costs (CPPC)B. Cost plus fixed fee (CPFF)C. Time and Materials (T&M)D. Fixed price (FP)   You are managing a software project. During a walk through of newlyimplemented functionality, your team shows you a new feature that theyhave added to help make the work flow in the product easier for your client.The client didn’t ask for the feature, but it does look like it will make theproduct easier to use. The team developed it on their own time because theywanted to make the client happy. You know this change would never havemade it through change control. What is this an example of?A. Gold platingB. Scope creepC. Alternatives AnalysisD. Schedule Variance

You've read about the statute of frauds and how it requires certain agreements to be in writing (remember the acronym MYLEGS). Thinking about all contracts, do you think that all contracts should be in writing? Or do you think this would hinder or slow down transactions?  Please discuss your thoughts on these questions while keeping in mind the purpose behind the statute of frauds.

a) List the five requirements for contract formation and give a short (approximately 1–2 sentences) description of each requirement.b) Choose one of the requirements from your answer to (a). Write a short (approxi- mately 5–10 sentences) example of a contract that does not satisfy this requirement and explain why.

If a loan shark promises you $500 if you will rough up one of his nonpaying customers to encourage prompt repayment, what sort of contract is this? a.​Valid b.​Void c.​Voidable d.​Enforceable

Defined as an unconscious ignorance or forgetfulness of the existence or non existence of a fact,past or present,material to the contract.

In terms of contract law, what is meant by the phrase "meeting of the minds"? The two parties have met but have yet to agree to the terms and conditions of the contract. One party has a list of their desired terms and conditions and is ready to meet with the other party to discuss them. Both parties to the contract have a general idea of what they want but the specifics still need to be worked out. All the terms and conditions needed for full acceptance of the offer have been agreed upon by the two parties to the contract.

Why do consultants typically want to avoid including detailed outcomes in their contracts? Is this ethical?