Econ 189-Assignment#1

Econ 189-Assignment#1 - April 20, 2009 Econ 189...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
April 20, 2009 Econ 189 Contracts-Assignment #1 1. B, since Party S feels only a moral obligation from Party F and there were no written contracts then the contract was simply implied and cannot be legally enforced. It is not enforceable and is not a valid contract. 2. A, since both parties agree to the terms then it is a valid contract it should be enforced mainly due to the fact that it is an informal contract. 3. C, since F did not smoke for one year then they are able to say legally that S is obligated due to a preexisting duty. 4. A, both parties have given consideration legally due to the fact that it was a valid contract that contains all legal elements of a contract that will be enforced. 5. A, both parties have given legal consideration since the contract is executory due to the fact that both parties fulfilled any obligations that have taken place. 6. B, due to the fact that F agreed to a previous five year contract but did not actually void the contract, then it was more of an informal contract that is not readily enforceable and therefore void. 7.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Econ 189-Assignment#1 - April 20, 2009 Econ 189...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online