Question
State whether the following contracts are valid, unenforceable or illegal.
a) Sam pays $10,000 to dispose of his mother-in-law
b) Ernie offers $20,000 to Emilio for Emilio’s block of land. Emilio accepts, but nothing is signed
c) Fred asks ABC Insurance to insure his new car. The company agrees but nothing is signed.
d) Zoe agrees to lease a shop from Ian for 10 years. No lease has been signed.
e) X and X are bank robbers. They employ George to drive their getaway car.
SAVE
AI-Generated Solution
info
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
to generate a solution
Click the button to generate
a solution
a solution
Knowledge Booster
Similar questions
- a real estate broker may do all the following except A. disclose the highest price the buyer is willing to pay B. obligated to render faithful servicesarrow_forward1. Which of the following describes when a person does not understand that a contract is being made or does not understand its general nature due to a mental condition caused by medication, drugs, alcohol, illness, or age. Factual incapacity Status incapacity Infactual incapacity Illegal incapacity 2. It’s possible the validity of a contract may be affected if one or both parties made a mistake. True False 3. Which of the following is not a problem area in determining whether the parties to a contract have genuinely agreed to be bound by the terms: Lack of contractual capacity Deception Pressure Privity of contract Mistakearrow_forwardYou have a job bidding provision in the contract which says. Vacancies in bargaining unit positions shall be posted for seven (7) days. The posting period ended on April 21. Employees may bid on positions one or two grades above the position held. All bids filed with the posting period shall be considered. If qualifications are relatively equal, the more senior bidder shall be granted the position, provided, however, that employees granted a position hereunder shall be ineligible to be granted a new position for one year from the date of promotion. A test score of 70 is considered minimally qualified. The position is in Grade4 The following have applied for the position APPLICANT (A) GRADE DATE IN POSITION TEST SENIORITY DATE BID DATE OR BIDDER (B) 1 B 2 4-1-21 72 1999 4-23-22…arrow_forward
- Sue Flay's Cakery promises to pay Oscar Ruitt not to park in a city-designated no-parking zone in front of her store. This agreement is: (Choose all of the correct answers.) Not enforceable because Oscar Ruitt has no legal right to park in a city-designated no-parking zone Not enforceable because Oscar Ruitt never made any enforceable promise to Sue Flay's Cakery Not enforceable because Oscar Ruitt is merely making an illusory promise Enforceable because Oscar Ruit is giving up the right to do something he would otherwise have the right to do Enforceable because Sue Flay's Cakery is offering legally sufficient consideration to Oscar Ruittarrow_forwardDavid is a licensed agent who typically represents homeowners looking to sell their house. As an agent, David has limited authority when working with clients, and his duties are limited to those outlined in the listing agreement. How would you characterize David's agency relationship? O David is a special agent since he is only responsible for one property at a time with limited duties. O David is a universal agent because he signed a listing agreement with the seller. О David is a general agent because he works with more than one client at a time. O David is a dual agent because he works with more than one seller at a time.arrow_forwardBased on your knowledge of contracts from your reading this week, discuss the following case. Be sure to support your view with the facts and the law.Maurice is an accountant who works for the firm of Addum, Upp, &Paymee. Maurice was approached by Shirley Eugest, who represents one of Addumâs competitors, BeanCounters, Inc. Maurice was offered a substantial raise to leave his company and work for BeanCounters. When Maurice’s boss heard this he called him in and said, âIf you stay with us, I promise that next year you will receive a promotion with a 50% raise, and a 5-year contract.â Maurice turned down the offer from BeanCounters and stayed with Addum. Nine months later Maurice was dismissed due to corporate downsizing. Can Maurice legally enforce his bossâs promise? What theory or theories would Maurice use? Discuss fully.Topic 22. Read the scenario set out below and discuss the questions that follow it:Art…arrow_forward
- Bryson is the owner of a deferred annuity. His son, Calvin, is the annuitant, and his daughter, Isabelle, is the beneficiary. Which parties to this annuity can select the type and timing of annuitized income payments?(Search Chapter 3) a. Bryson b. Calvin c. Isabelle d. Bryson, Calvin, or Isabellearrow_forwardIf Barney’s employer withholds $11,928 for federal taxes, which is 14% of his gross annual salary, then would Barney owe additional taxes by April 15th of the next year or would he receive a refund, and in either case, by how much?arrow_forwardYou have a job bidding provision in the contract which says. Vacancies in bargaining unit positions shall be posted for seven (7) days. All bids filed with the posting period shall be considered. If qualifications are relatively equal, the more senior bidder shall be granted the position, provided, however, that employees granted a position hereunder shall be ineligible to be granted a new position for one year from the date of promotion. You hire an external applicant who is far better than the senior bidder. Under what circumstances could you hire the outside applicant under this language. What argument would you expect the union to make? What would you expect the union to say if you offered to grant the next vacancy to the senior person denied the position and why?arrow_forward
- devratarrow_forwardSteven, an accountant, returning from his office, calls into a pub for a relaxing drink. He bumps into Paul, an old school friend, whom he has not seen for many years. During the course of the conversation over a number of pints, it emerges that Paul has recently inherited a substantial sum of money and is interested in investing in local businesses. Steven mentions that one of his clients, Precarious Ltd, is seeking financial backing and would make an attractive investment. By chance, he has a copy of the company’s accounts in his briefcase which he gives to Paul. Relying on these accounts, Paul invests £10,000 in Precarious Ltd, but loses everything when Precarious goes into liquidation six months later. In fact, the accounts had been prepared negligently and did not reflect the parlous state of the company’s affairs. Advise Paul.arrow_forwardBill offers to sell his car to Tom for $9,000. Tom replies, “Your price is too high! I will offer to buy your car for $8,000.” Tom’s response is: A) a counteroffer B) a rejection of the original offer only C) the creation of a new offer only D) a refusal to deal.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios