Extra_Credit_Contracts_Assignment 2014.doc

Extra_Credit_Contracts_Assignment 2014.doc - Extra Credit...

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Extra Credit Contracts Assignment (up to 16 points) DUE: Turn in when you take Exam 2 This assignment must be done individually. Using the concepts below, you should define each of the words in bold and create a FACTUAL SCENARIO which demonstrates your understanding of each of the respective concepts. Please turn in a written copy of this assignment to me at the time of Exam #2. I will not accept email copies or attachments. 1. Include a short paragraph explaining the four elements of the contract ( agreement, consideration, capacity and legality ) in your paper and create a short factual scenario in which you identify each element. (2 points) 2. Minor enters a K and who later disaffirms . The K must be for a “ necessity ” and disaffirmance can occur within a reasonable time OR NOT (you decide but explain why this would matter). Also address whether the minor would be responsible for restitution . (2 points) 3. Misrepresentation : explain the three types somewhere in your presentation but choose ONE to include in your factual scenario.
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