Exam 7: The Elements of a Contract: Capacity, Legality, and Intention

Whenever an adult enters into a contract with an infant,the adult is bound.

What is a guarantee?

Discuss what a prudent businessperson should do prior to beginning operations of a small business that will conduct its business through electronic transactions?

From the perspective of contract law,why might the distinction between a guarantee and an indemnity be important?

Given the provisions of the Statute of Frauds,which of the following contracts should be evidenced in writing?

Parents are responsible for their children's actions in which of the following situations?

Describe how infants are treated in contract law in Canada.

Today,there is no general rule that a contract must take a certain form,although most jurisdictions have statutory requirements regarding the transfer of land.

"A verbal contract is every bit as binding as a written one." Discuss the validity of that statement.

"A person's intention to be bound by contracts is presumed." Discuss the accuracy of that statement.

Discuss the Statute of Frauds as it relates to contract law.In your answer,consider the justification of requiring some contracts to be evidenced in writing,and also how and why the Statute of Frauds has been modified or repealed in several jurisdictions.

Which one of the following is an example of a contract that is binding on an infant in British Columbia?

How is a person of weakened intellect or who is otherwise vulnerable (but not insane or mentally incompetent)protected in terms of contract law?

Distinguish between an infant's liability for torts and for contracts.

Recent court decisions have taken a different approach to illegal contracts.The modern approach means that an illegal contract may be partially enforceable.

A signature equivalent for electronic documents might be a password or some other form of encryption.

Joe had a classic Buick automobile and he agreed to trade it to Sam for a specified amount of cocaine.Sam took the car and,three days later,before he could deliver the cocaine to Joe,his cocaine was seized by the police and he was arrested.Joe is now bringing this action claiming that he's entitled to the car back.Indicate what arguments are available to Joe and the likelihood of him obtaining his car back.

What is an indemnity?

Indicate what types of contracts are binding on infants.

When there is a(n)________ (a right to seize property),or when there is a right to set off a debt against the obligations created by the contract,the parties themselves may be able to enforce the contract without the help of the courts.