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4 cards from this section. Quick, good the night before a test.
What are the five essential elements of a contract?
Think about what is needed for a valid agreement.
Define a void contract.
Consider what happens if the object of the contract is illegal.
What is required for a contract to be valid?
Remember the acronym OACCL.
True or False: A voidable contract is always enforceable.
Think about the circumstances under which it can be annulled.
Analyze a scenario in which a young entrepreneur signs a contract under a false representation about a product's features. What implications arise from this scenario?
Reflect on the role of truth in contract agreements.
Consider a case where a company frequently engages in bid shopping after securing a contract. Discuss the legal and ethical implications of this practice.
Think about the fairness and integrity in bidding.
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