Questions from Business Law

Q: Identify and explain the three essential characteristics of valid consideration.

Identify and explain the three essential characteristics of valid consideration.

Q: Describe the kinds of valid consideration, including (a) a

Describe the kinds of valid consideration, including (a) a promise for a promise, (b) a promise of forbearance, and (c) a pledge or subscription.

Q: Discuss the situations in which the UCC dispenses with the requirement of

Discuss the situations in which the UCC dispenses with the requirement of consideration in contracts to sell goods.

Q: Discuss minors’ contracts and how the age of majority impacts the legality

Discuss minors’ contracts and how the age of majority impacts the legality of contracts.

Q: Describe the operation of the law as it relates to liability for

Describe the operation of the law as it relates to liability for a minor’s torts and crimes.

Q: Discuss legality of purpose in relation to public interest, and classify

Discuss legality of purpose in relation to public interest, and classify illegal agreements into three major categories.

Q: Discuss four instances where restraints of trade are legally enforceable.

Discuss four instances where restraints of trade are legally enforceable.

Q: Discuss the organization of governments and define the specific duties of the

Discuss the organization of governments and define the specific duties of the three branches of government.

Q: Identify the six types of contracts that the Statute of Frauds requires

Identify the six types of contracts that the Statute of Frauds requires to be in writing.

Q: Specify items of information that must be included in a written contract

Specify items of information that must be included in a written contract to satisfy the Statute of Frauds.