1. What is held to be good consideration to bind the parties to a contract? Could the wrapper from candy bar be good consideration?
2. Can an infant (child under the age of 18) claim that they are not bound by any contract due to a lack of capacity. Explain whether this is correct or incorrect with appropriate legal principle. 2 marks
3. Sakna asks Abdul if he will sell her his retail business. Abdul states that Sakna can buy the business for $20,000 to which Sakna replies 'yes, as long as my lawyer agrees'. Sakna never takes the agreement to her lawyer.
Explain whether there is a binding contract between these parties? Explain why or why not. 2 marks
4. Farah reads an advertisement in the local newspaper whereby a local business is selling a particular fashion labelled dress for $10, as long as the customer presents the advertisement between the hours of 9 am to 12 am Tuesday. Farah arrives at the shop within the appropriate time, on the correct day, but is refused a sale of a dress at $10.
Can Farah insist that there is a contract and that the business is bound to sell her the dress for $10. Explain with reference to contract law.
5. Sarah is offered a car by a car dealer at a price of $30,000 on a Tuesday morning, the offer arrives by email. Sarah replies on the same day with a question, has the car been recently serviced? The dealer does not answer her query. Sarah sends an email on the same day and accepts the offer. The dealer states that the offer has now been withdrawn and she will have to pay $40,000.
What rights does Sarah have, if any? Referring to contract law advise Sarah on whether a contract has been concluded by her acceptance, or whether the offer has now lapsed.
6. Jassim owes Ali $500, payable at the end of the month. Ali speaks to Jassim and asks if Ali could pay him back a bit earlier because he (Ali) is in need of some cash. Ali agrees to accept $450 and settlement if he receives the money immediately, some 10 days before the payment is due. Jassim accepts the offer.
Explain (whether reference to law) whether Ali can sue for the remainder of the money owed by Jassim.
7. A customer purchases a television for their home. The customer opens the box and connects the TV, but it simply does not work. What rights does a purchaser have under consumer law?
8. How is a contract made electronically different to that of a contract made by an oral agreement? Explain
9. A negotiable instrument is a useful means of borrowing. Explain what makes a document a 'negotiable instrument' as distinct from one that is not.
In your answer explain what is not a negotiable instrument, and why an instrument may fail to be negotiable under law as it relates to this area.
10. What is the difference between a cheque and a negotiable instrument?
11. To what degree can a customer expect the bank to keep their (the customer's) private information secret from any other institution or public body? Refer to case law if appropriate.
12. A company is an artificial creation. How then can a company enter into contracts?
13. What is the liability of members of a partnership for each other's actions? Could a partner claim they are not liable at all for a fellow partner?
14. Explain the use of a joint venture. Who can be a party to a joint venture agreement?