Exam 7: Formation of Contracts Continued

"Where the Statute of Frauds applies and the requirement of writing is not met in an agreement between two parties, the contract is void." Discuss the validity of this statement.

"Because of the Charter of Rights and Freedoms and various human rights legislation in all jurisdictions, status Indians no longer experience limited capacity in contract law." Discuss the accuracy of that statement.

What is an indemnity?

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

If a contract is not evidenced in writing this does not make it void, only unenforceable.

Give three examples of contracts that would be considered void because of illegality.

The court may hold that a contract is "void," "voidable," "unenforceable," or "illegal." Which of the following is true with regard to these terms and the court's use of them?

In which of the following situations would an infant be bound by the contracts he has entered into?

Sue had a beautiful lakeside cottage that had been in her family for years. Times became a little tight, and Sue decided she had no choice but to sell the property. Sue agreed to sell the cottage property to her neighbour Bob for the sum of $250,000. Although Sue was ecstatic about the price early on, she soon changed her mind. There were too many memories for her to give the property up. Which of the following, by itself, would be the biggest barrier to Bob enforcing the agreement?

"If an infant can't be sued in contract because of his age, the adult can often sue in tort instead, thus avoiding the protection given to the infant in a contract law." Discuss the accuracy of this statement.

When a restriction is excessive and deemed to be an unreasonable restraint of trade, what is the usual result?

A provision in a contract for the sale and purchase of a business read as follows: "The vendor (Jones) shall not, directly or indirectly, in any capacity whatsoever, carry on a similar business in any location for one year." Six months later, Kates found that Jones was competing directly by opening up a similar business, contrary to the contract drafted by Kates. Kates sued Jones for breach of contract, namely, breach of the restrictive covenant. Which of the following best describes the legal position of the parties?

Provide an example of something that would constitute acceptable part performance when land has been sold.

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

An insane person can escape a contract on the basis of incapacity only if the other person knew or ought to have known of the insanity.

Which of the following is correct with respect to the law of intention?

Jones entered into a contract for the sale of his barber shop to Harry Cutter. One of the terms of the contract was that Jones would never open up a similar business within 50 kilometres of the location of the barber shop being sold. About two weeks after the sale, Cutter noticed a new barber shop opening across the street with brand-new facilities and equipment. When he learned that the owner of the new shop was the very Jones who sold the business to him, he sued for breach of contract. Which of the following correctly indicates the legal position of the parties?

Randy, as two older brothers before him, moved out of the house when he was quite young. When he was 17, he and his older brother, Ted, wanted to buy a condominium in Nelson. They both had jobs and the bank was willing to lend them money and take a mortgage on the condo. Which of the following is a correct statement about the law governing this situation?

In jurisdictions other than British Columbia, which of the following is correct with respect to the law of infants?

What is an "executed contract"?