QUESTION 6 \"Real Assent\" in a contract can be destroyed by which of the follow

Question

QUESTION 6

"Real Assent" in a contract can be destroyed by which of the following?

Confusion that interferes with a meeting of the minds

Fraud or misrepresentation

Duress, by physical force or by improper threat

All of these

Mutual mistake about a basic assumption in the contract

QUESTION 7

Your uncle is so proud of you for being in college that he promises to give you $5,000 when you turn 25 years old.  This promise is ...

A. Legally binding because you are working hard in college

B. Legally binding because you have been a good niece/nephew to your uncle

Not legally enforceable because you are already in college

Not legally enforceable because there is no guaranty that you will live to be 25 years old

Not legally enforceable because you have given no consideration for the promise

QUESTION 8

Peru State College offers to buy as much sod as it desires from Auburn Sod Company, in return for a guaranteed 10% discount and same day delivery for a whole year. When Peru State places its first order of 10 square feet of sod, Auburn Sod Company tells Peru State that it will not give the discount or same day delivery and that it isn't bound to the agreement. On what legal basis may Auburn Sod Company make this assertion?  

A. Preexisting duty

Past consideration

C. Accord and satisfaction

Misrepresentation

Illusory promise

QUESTION 9

In which of the following circumstances is capacity to contract an issue?

A. One party to the contract is so obviously intoxicated that she cannot speak clearly

All of these

C. One party to the contract is a minor (under age 18 in most states) but he looks very mature and the other party thinks he is an adult

One party to the contract has been adjudicated as mentally incompetent

One party to the contract is a minor (under age 18 in most states)

QUESTION 10

Which of the following describes consideration that is legally insufficient?

Tony bought a book for $100. He offers to give it to Ruby for free because he feels sorry for her.

Tony bought a book for $100. Ruby offers to buy it for $10.

Tony bought a book for $1,000. He offers to sell it to Ruby for $10 if she quits smoking.

d. Tony bought a book for $100. He offers to sell it for $1 if Ruby helps him study for his algebra exam.

Tony bought a book for $1,000. Ruby offers to buy it for $2,000 if he will deliver it by 5:00 pm on that same day.

Confusion that interferes with a meeting of the minds

Fraud or misrepresentation

Duress, by physical force or by improper threat

All of these

Mutual mistake about a basic assumption in the contract

Explanation / Answer

Ans 6: D) All of these

The real assent can be destroyed by all the means mentioned here i.e , confusion , fraud or misinterpretation , Duress or mutual mistake about basic assumption in contract.

The valid legal contract must contain all the elements such as : offer , assent , consideration , and intention to form a legal relationship.

The absence of any of the element in the contract violates it.

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