Questions from Business Law

Q: Define unconscionable contracts.

Define unconscionable contracts.

Q: Define the term general release.

Define the term general release.

Q: Identify four kinds of agreements that lack consideration.

Identify four kinds of agreements that lack consideration.

Q: Explain what is meant by contractual capacity and define competent parties.

Explain what is meant by contractual capacity and define competent parties.

Q: Assess the legal status of contracts made by persons who are incompetent

Assess the legal status of contracts made by persons who are incompetent.

Q: Identify four kinds of agreements that are in violation of statutes.

Identify four kinds of agreements that are in violation of statutes.

Q: Identify four kinds of agreements that are in violation of public policy

Identify four kinds of agreements that are in violation of public policy.

Q: Explain the provisions of two major laws governing illegal restraint of trade

Explain the provisions of two major laws governing illegal restraint of trade: the Sherman Antitrust Act and the Robinson-Patman Act.

Q: Describe the requirement of proper form of contracts, and name instances

Describe the requirement of proper form of contracts, and name instances when contracts (a) should not be in writing, (b) should be in writing, and (c) must be in writing.

Q: Explain how the parol evidence rule affects the addition of supplementary provisions

Explain how the parol evidence rule affects the addition of supplementary provisions to a written contract.