BUS 121 UA 2-2 answers from instructor

BUS 121 UA 2-2 answers from instructor - 4. ONLY an offeror...

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UA 2-2 0 messages - 0 unread UNIT 2-2 1. the only purpose of the SOF is to make it easy for a judge in a breach suit. seeing the written contract makes it much easier to make a decision than to just have to take the word of the plaintiff and defendant. in other words, the SOF simply says that six types of contracts must be in writing to be enforceable in court. and that's all it says. the SOF has nothing to do with fraud or criminal penalties. 2. because of the Parol Evidence Rule, a judge does not have to listen to oral changes in a written contract. oral changes are not admissable in a breach suit. 3. when a minor is contracting for his/her business, when the minor is buying necessaries, and when the contract has been completed to the satisfaction of the minor.
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Unformatted text preview: 4. ONLY an offeror can revoke an offer, but only BEFORE the offeree has accepted it. 5. MOST contracts are terminated by completion. a few are terminated by mutual agreement not to complete, by impossibility to complete, by rule of law, and by destruction of property involved. 6. only a minor can void their contract unless the adult party can prove they are incompetent. most minor's contracts are voidable because they are not for the reasons given in #3 above 7. a judge might allow a contract that violated legal purpose to be held valid if one party was innocent of the illegality and the other party knowingly took advantage of them, planning to void the contract later, which would have caused the innocent party damages. Available after Jun 10, 2010 12:00 PM...
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This note was uploaded on 11/18/2011 for the course BUS 121 taught by Professor Smith during the Spring '10 term at Lander.

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