Competition for Purchases

b. A contract with no legal effect from the beginning, as though it never happened.

c. A contract that is valid unless and until it is rejected at the option of one of the parties.

d.A contract with a mistake in it

2.Under the Statute of Frauds, a note or memorandum of the contract must:

a. Contain all essential terms of the contract.

b. Be signed by both parties.

c. Be in one document.

d. All of the above

3.At what point is a contract formed:

a. When an offer is made.

b. When an offer is accepted.

c. When a counter-offer is made.

d. When consideration is actually paid to the other party.

e.When the negotiation is taking place.

4.Alicia is 16 years old, but looks 21. She buys an expensive home entertainment system for $2,000 on credit, telling the salesperson that this is her 21st birthday present to herself. The salesperson honestly believes her. She makes two payments of $100 each, and then can’t pay any more. The store sues her for the balance owing. Which of the following is true?

a. because she looks over 21, the contract is enforceable against her.

b. because she lied about her age, the contract is enforceable against her.

c. she can cancel the contract because she is a minor and can keep the goods.

d. she can cancel the contract because she is a minor but must return the goods.

e.even though she lied, the contract is still enforceable against her.

5.When Mr Adams tells the local Boys’ and Girls’ Club that he will give them $5,000 if they promise to use the funds for their summer camping program, this is an example of which one of the following?

a. Gratuitous promise

b. When accepted by the club, a bilateral contract

c. When accepted by the club, a unilateral contract

d. Promissory estoppel e.Inadequate consideration

Cole agreed to buy property from Kate to build a store of a certain

Question Cole agreed to buy property from Kate to build a store of a certain design. Kate, the vendor, was aware of the design and knew that an easement across the back of the property would prevent such a building being erected, but said nothing. Cole purchased the property, later discovered the easement, and learned that Kate knew about it. He sued for misrepresentation. Applying the relevant principle(s) of law, discuss the likely outcome.

Chiu, a student at the George Brown College, had a one-year lease

Question Chiu, a student at the George Brown College, had a one-year lease on a suite in a house owned by Ned. Ned sold the house to Jacob without telling Chiu about the lease. When Jacob discovered Chiu in the suite, he demanded that Chiu leave. Applying the relevant principle(s) of law, explain the rights of the parties in terms of privity of contract.

Kenneth made an offer to sell his car to Janeth, promising

Kenneth made an offer to sell his car to Janeth, promising to keep the offer open for a week. However, he changed his mind, sold the car to someone else, and phoned Janeth to inform her that he was withdrawing his offer because he had sold the car to someone else. Janeth was angry and said that he wanted the car and was going to hold him to his promise to hold the offer open for a week. Janeth sued for breach of contract. Applying the relevant principle(s) discussed in the business law class, explain whether Janeth will be successful in the claim.

Material Pty Ltd (MPL) carries on an interstate trucking business. It has two directors. They are Paul, the

Question Get Answer

Material Pty Ltd (MPL) carries on an interstate trucking business. It has two directors. They are Paul, the managing director, and his wife Merry, who is also the company’s secretary. Apart from its fleet of trucks, thecompany also owns the house where the directors live.Paul and Merry’s marriage has broken down and they have separated. Merry continues to live at the houseowned by MPL and is not involved in the day-to-day operations of the company’s business. Paul lives in thehouse of his son, Adam.Two months ago, Paul, without telling Merry, borrowed $150,000 from Industrial Bank. The money wasborrowed for his own use. The loan was secured by a mortgage over MPL’s house currently occupied byMerry. The mortgage was executed under the company’s seal, witnessed by Paul as a director and Adam asa company secretary. The constitution of MPL requires approval of the board of directors for such a mortgage,but the approval had not been obtained for the mortgage. At the time the mortgage was executed, Paul liedand told Industrial Bank that Merry had resigned as a company secretary and that Adam had been appointedto that position.Merry has now been made aware that Paul has mortgaged the house for the above-mentioned $150,000 andshe argues that MPL is not bound by the mortgage.Your Tasks:a) Advise Industrial Bank whether it can enforce the mortgage against Material Pty Ltd (MPL). (20 marks)b) Advise MPL (the company) on the arguments that it may use in defence of any action for enforcementof the loan contract by Industrial Bank. (15 marks)Give reasons for your advice, referring to the Corporations Act 2001 (Cth) and case law to support youranswers.

Martin, a concert pianist, was walking down the street

Martin, a concert pianist, was walking down the street when he was struck by Jeffrey, a careless skateboarder. Martin was knocked down and crushed his hand. When Martin sued Jeffrey for his negligence, claiming the loss of income from his profession (he could never play the piano again), Jeffrey countered with the defence that there was no way he could have anticipated that the person he was going to hit was a concert pianist. Applying the most relevant principle of law, explain his likelihood of success in raising this defence.

Mary was driving down the road when Sam came out from

Question Get Answer question59
Mary was driving down the road when Sam came out from a side road, went through a stop sign, and struck the side of her car. Upon later examination of Mary’s car, it was determined that the brakes were worn down beyond the point of safety. Sam sued her for negligence. Applying the relevant principles of law, explain the likely result.

Data/Information/Knowledge1. Discuss the relationship between data, information, and knowledge. Support your discussion with at least 3 academically reviewed articles. (Attaching

Data/Information/Knowledge1. Discuss the relationship between data, information, and knowledge. Support your discussion with at least 3 academically reviewed articles. (Attaching 3 documents from my university library here)2. Why do organization have information deficiency problem? Suggest ways on how to overcome information deficiency problem.Main discussion should be at least 300 words or more. Please use your own words. Do not copy-and-paste.Read and respond to at least two (2) of your classmates’ posts.