Question

1.Which of the following contractual elements concerns an offer and an acceptance of the offer? (1 point)

A.agreement
B.consideration
C.contractual capacity
D.lawful object
2.If consent to create a contract has been obtained by duress or fraud, ______________ has been violated, and the contract is void. (1 point)
A.genuineness of assent
B.genuineness of consent
C.informed consent
D.contractual capacity
3.Nadia has agreed to purchase a truck from her brother Paul for $10,000. Nadia has paid Paul the $10,000, but Paul has not transferred the title to Nadia. It has been weeks, and Nadia is frustrated. She gave Paul until the end of the week to transfer the title of the truck to her. If he does not transfer the title, then Nadia has the right to (1 point)
A.sue for breach of contract.
B.deem the contract executed.
C.deem the contract valid.
D.sue for implied contract.
4. Parties to a contract can sometimes transfer their rights under the contract to other parties. This is called (1 point)
A.delegation of a duty.
B.assignment.
C.breach of contract.
D.third-party beneficiary.
5. Much to the delight of her neighbor Carl, Maria contracts with a tree-removal service to cut down a dead tree in her front yard. The tree-removal service breaches the contract, and Maria sues them. Since Carl was a(n) _______________, he has no grounds on which to sue the tree-removal company himself. (1 point)
A.fourth-party beneficiary
B.unintended beneficiary
C.incidental beneficiary
D.conditional beneficiary

Answer 1

1. The correct answer here is A that is Agreement.
An agreement in the business somewhat differs from its use in an ordinary circumstances. Agreement usually means understanding between two people but in business it is a negotiable thing and it has legal consequences. So if someone violates the agreement they can be persecuted or the agreement can be ended.

2. The correct answer here A that is the genuineness of assent.
For a contract to be valid both parties must willingly, clearly and completely accept the contract. There must not be any threatening and the contract must not be signed under duress. If the contract is a result of duress of one party the contract may be made void.

3. The correct answer here is A that is sue for breach of contract.
A contract between two parties does not have to be written as it can be both implied and oral. Here we have an oral contract between Nadia and her brother Paul. They orally agreed on a deal. The thing here is that oral agreements are also enforceable and people can sue the same way they would sue for a breach of a written contract.

4. The correct answer here is B that is the assignment.
In the field of law a party the assignor can transfer its rights a someone else who is termed the assignee. This is often used in the banking world as well in the world of real state. Here the rights in the contract also the benefits can be transferred in accordance to established and existing rules.

5. The correct answer here is C that is the incidental beneficiary.
An incidental beneficiary is a person who indirectly benefited from an agreement of other parties in this case Maria and the tree-removal service. The incidental beneficiary is not the who was intended to benefit but he did nevertheless. The more banal example would be a grandchild experiencing benefits of a deal his grandparents made that can be used by the entire family.