TF . Most states limit the amount of interest which can be charged on a loan. TF
ID: 422820 • Letter: T
Question
TF . Most states limit the amount of interest which can be charged on a loan. TF 2. Any clause in a contract determined to be an "exculpatory clause" is TF 3. A court will usually not evaluate a contract to make sure both sides are TF 4. A contract which is too unfair and one-sided may be determined T F 5. A contract should be held enforceable even if a party is mistaken about the TF 6. A contract may be determined unenforceable if both parties were mistaken TF 7. The contract defense of fraud requires some false statement of a factual nature. automatically void and unenforceable. receiving equal value. unconscionable and therefore unenforceable by a court. value or quality of an item purchased. about an important fact, but not if only one party was mistaken. TF 8. A statement that no reasonable person would believe is probably not fraudulent. TF9. Duress involves a statement by a person who has special influence over TF 10. Some contracts must be in writing to be enforceable. TF 11. Real estate contracts typically must be in writing to be enforceable. TF 12. A contract covered by the Statute of Frauds must be signed by both parties. TF 13. A party may be able to transfer their rights and duties under a contract to another, such as a trusted friend or advisor. another party. T F 14. An award of punitive damages is very common for contract breach. TF 15. A party may be entitled to foreseeable damages beyond the contract itself but which result from a breach of the contract, such as lost profits. TF16. The party breaching a contract has a duty to mitigate the damages which will result from his/her breach. TF17. Liquidated damages are an agreed amount to be paid for a future breach.Explanation / Answer
We are instructed to provide the solution of up to four parts of any given problem. Please do not downvote the answer for that reason.
1. A. True
This is because most states have some form of policies to prevent the bank from overcharging a loanee with an unfair amount of interest, therefore, an upper limit is set and enforced by the state to safeguard their interests.
2. B. False
This is because a clause which limits the liability cannot just be regarded as being enforceable. Therefore, if a contract carries such a clause, it cannot be considered void.
3. B. False
This is because to provide equal opportunity to both the sides of the argument. There needs to be the exact amount of evaluation form both the sides of the contract in order to provide a sound judgement.
4. A. True
This is because in the eyes of the court such an agreement or a contract cannot be considered as enforceable due to the inherent nature of the contract to be extremely one-sided and unfair.
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