5. If an offeree makes a mistake and sends an acceptance to the wrong address, t
ID: 2597522 • Letter: 5
Question
5. If an offeree makes a mistake and sends an acceptance to the wrong address, there is an acceptance upon dispatch. T/F Under the Mailbox Rule, a valid contract is formed if a rejection is dispatched, bu 6. t before the rejection is received, the acceptance is communicated to the offeror. T/F 7. A detriment to a promisor is a type of consideration. T/F 8. A promise to do something you are already obligated to do is generally a valid consideration. T/F 9. An unliquidated debt may be the subject of an accord and satisfaction. T/F 10. As a general rule, parents are not liable for the contracts entered into by their minor children. T/F 11. For purposes of determining capacity, intoxicated persons include those under the influence of alcohol, but not drugs. T/F 12. Disaffirmance laws have been found to reflect a policy of discouraging adults from contracting with minors. T/F 13. An erroneous belief about the facts of a contract at the time a contract is concluded is called a "mistake of fact". T/F 14. "Undue Influence", refers to those special relationships in which one person has taken advantage of his/her dominant position in a relationship to unduly persuade the other person and interfere with that person's ability to make his/her own decision. T/F 15. It is not necessary to show "reasonable reliance" to prove fraudulent misrepresentation. T/F 16. There is federal legislation titled, "Statute of Frauds". T/FExplanation / Answer
5 False
6 True
7 False, Consideration which must be given in order to make a contract legally binding given by promisor in return promisee would perform which result in a detriment to the promisee.
8 False, A promise to do something that you are already obligated to do is notvalid consideration
9 True, In an unliquidated debt, parties either disagree about whether money is owed or dispute the amount. They can settle for less than the full amount if they enter into an accord and satisfaction.
10 True, Unless the parent co-signs the contract, and thereby assumes personal liability for its performance
11 False, intoxicated persons include those under the influence of alcohol or drugs therefore the person are not in sound mind to determine the capacity
12 True, In a case of Lopez v. K-Mart Corporation, the court confirm that the disaffirmance statue reflects a policy of discouraging adults from contracting with minors
13 True, Mistake is erroneous belief about someting, it may be a mistake of law or mistake of fact
14 True, The elements of undue influence are
- a dominant position
- the use of it to obtain an unfair advantage
15 False, necessary to proving fraudulent misrepresentation there must be reasonable reliance
16 False, the statute exists as legislation at the state level.
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