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- 1. Based on the facts given in hypothetical contract scenario drafted in Part 1, identify the following elements: C a Offer b. Acceptance c. Consideration d. Competent Parties e. Intention to create a binding agreement 1. Legality of PurposeHow is an offer terminated? options: 1) A counter-offer by the offeree. 2) The offeree makes enquiries regarding the terms of the offer. 3) When there is a breach of the term by the offeree after acceptance. 4) The offeror serves a notice of revocation within reasonable time after acceptance.C. What role do conditions precedent and conditions subsequent play in contingent contracts?
- 1. With reference to contract law,identify and explain the elements that need to be present to form a valid contract? 2. Under what circumstances can an offer come to an end? Discuss using case law.Discuss, what are the key elements required to establish a contingent contract?"2.2 1. state the conditions under which an owner reasonably can call for competitive bids for a lump-sum contract. if conditions are not ideal, what alternatives does the owner have? 2.3 1. define and explain the concept of a primordial agreement, and how such an agreement can be used in negotiations for a construction contract. Course hero has this 7. Cite and explain several axioms for carrying out negotiations
- .What are the key elements required to establish a contingent contract?"The lawyers of Leo's estate put an auction ad in the local newspaper asking "without reserve" bids on his 100 acre ranch along the Guadalupe River. All bids were to be texted by 5PM August 1st. Only one bid was sent, and that was Sam's bid of $100. Assuming no other legal issues, the Estate of Leo and Sam have an enforceable agreement for the purchase and sale of the ranch for $100. True or False True FalseA meeting of the minds occurs when both parties actually assent to a contract’s terms. It mayalso highlight the time of a mutual agreement, although the acts of this agreement need notoccur simultaneously. A subjective meeting of the minds was traditionally required when it cameto the assent of contract theory but modern law dictates that a meeting of the minds must beobjective1In relation to the requirement for a consensus to form a valid contract, explain 4 factors thatVitiate/affect consensus.
- Initial impossibility of performance renders a contract...Describe the difference between/among the following terms. May vs shall Equal, substantially equal, relatively equal Bidder vs applicant Determines vs deems8. 9. 10. If the offeree adds new conditions to the offer, he is said to have A) Rejected the offer B) Accepted the offer C) Refused the offer bozoqmoo D) Made a counter-offer During the formation of the contract, if the object does not exist then this contract is A) Void with relative nullity B) Valid C) Enforceable D) Void with absolute nullity is an alteration of the truth made with the intention of obtaining unfair advantages for one party, or causing loss to another. A) Lesion B) Violence C) Fraud D) Mistake als Taut