Exam 6: The Elements of a Contract: Consensus and Consideration

When Mr.Adams tells the local Boys' and Girls' Club that he will give them $5,000 if they promise to use the funds for their summer camping program,this is an example of which one of the following?

Discuss the requirement of consensus in the formation of contract.In your answer,consider the role of offer and acceptance and also look at the degree of understanding required between the parties.

Which of the following is true with respect to the application of contract law to the Internet?

Distinguish between a bilateral and a unilateral contract.

When the parties agree to pay the "market value" of an item,or when some other objective method or formula for pricing a product at some time in the future is used,the consideration is calculable and is thus sufficiently specific to be binding.

Which of the following is not an example of a contract?

The requirement of consideration is satisfied if "some money" is promised in exchange for an act.

Describe the effect of E-Commerce legislation in your province.

X contracted with Z.X promised to pay $500 and Z promised to build a cabinet to hold X's fine china.The essential terms included the type and quality of the wood,the dimensions,and the date of completion-February 13.The work went more easily than expected and Z said to X,"If you pay me another $85,I will have this finished and be out of here by February 10." X agreed.If the cabinet was done to specifications by the 10th,but X refused to pay anything,Z would be entitled in law to

An offer will end when the subject matter of the offer is sold to someone else.

Explain the postbox rule and discuss its relevancy in the modern business world.

Read the following and indicate which agreement would not be a binding contract because of a problem with the requirement of consideration.Assume all the other requirements for a binding contract have been met.

In Douez v.Facebook,the Supreme Court of Canada decided not to enforce Facebook's forum selection clause due to:

Joe drove his car into Sam's garage to have some repair work done.He told Sam to fix the carburetor.Sam worked on it most of the afternoon and found he had to rebuild the carburetor.He presented Joe with a bill for $250 when he returned.Joe refused to pay,saying that he had taken a law course and knew that,because they didn't agree to a specific consideration ahead of time,he was not bound in contract.Was he correct? Explain.

What is a "subject-to clause"?

Mary bought a new computer and advertised her old computer for $1500.Mr.Jones offered to pay $1000.Mary said no,she wanted $1500.Mr.Jones offered $1250.Mary rejected that and said she wanted $1500,but then said to him,"I withdraw my offer,I've decided to give it to a school and apply for the tax benefit." Mr.Jones said,"All right,I'll accept your offer of $1500." Which of the following is true?

With respect to the online contracts,which of the following statements is true?

A binding contract that will subsequently be put into a more formal document is known as ________.

The postbox rule applies when which of the following means of communication is used?

In contract cases,the court generally