Questions from Business Law


Q: Explain the three requirements of a valid offer.

Explain the three requirements of a valid offer.

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Q: Explain the two requirements of a valid acceptance.

Explain the two requirements of a valid acceptance.

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Q: Explain the UCC provision relating to when a contract is unconscionable.

Explain the UCC provision relating to when a contract is unconscionable.

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Q: What are some examples of duress?

What are some examples of duress?

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Q: Persuasive statements based on a salesperson’s opinion are referred to as puffing

Persuasive statements based on a salesperson’s opinion are referred to as puffing. Provide examples of typical sales situations in which puffing is used.

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Q: What are some examples of undue influence?

What are some examples of undue influence?

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Q: Explain how forbearance can satisfy the requirements of consideration.

Explain how forbearance can satisfy the requirements of consideration.

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Q: Describe the position generally held by the courts on the matter of

Describe the position generally held by the courts on the matter of adequacy of consideration.

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Q: Identify four kinds of agreements that lack consideration.

Identify four kinds of agreements that lack consideration.

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Q: Why are courts reluctant to rule on the adequacy of consideration?

Why are courts reluctant to rule on the adequacy of consideration?

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