Question

1-Identify the three essentials of an offer and explain briefly the requirements associated with each.

2.Explain, give examples of, and distinguish between the following ways to invalidate assent: a. Duress b. Undue influence c. Fraud d. Non-fraudulent misrepresentation e. Mistake

3. What factors must be established to prove economic duress?

4. What are the elements that must be proven in an undue influence case?

5- What is consideration and what does it mean to be legally sufficient.

6. Do preexisting public and contractual obligation satisfy the legal requirements of consideration?

7.What are the two types of licensing statutes and give examples of each.

8. What is a covenant not to compete and what does the court consider when deciding to enforce these? 9. What factors are reviewed by the court in determining whether an exculpatory clause should be invalidated as against public policy?

Answer 1

Answer 1:-

In general a contract contains two parties having the agreement on the few terms and conditions to gain their target individually. Both parties will get benefit from each other. In that contract there will be an offer for each party who will sign the contract after acceptance of the offer. That offer should be valid having the three essential elements i.e. Communication, Commitment and Definite Terms.

• Communication

To make a contract the offer must be communicated with person in direct way. It means the communication should be transparent. That is possible through orally or writing. Based on that person can accept or reject the offer.

• Commitment

Offer is the benefit which will be provided to the parties. There will be no modification in future once the explained offer accepted by the party. No change in offer defines the commitment of the contract.

• Definite Terms

Definite terms design the clear and time bound agreement. For example someone selling his property at fixed rate and after one month you will not able to sign the contract.

Answer:-3

Economic duress means that the contract became threaten to other party, They don’t have the other option apart from being participant of contract and to accept all the non favorable conditions.   There is a option to bring the party to the court where you have prove the economic duress.

Following elements should be highlighted in the court:-         

• Contract is not closed means the contract existing between you and party.
• That other party threatening using new term and conditions added in contract recently.
• You had accepted the new terms of the contract and there were no other option.