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York College, CUNY STRATEGIC 68798 Chapter 5 1)What are the promises contained in a contract known as? Can people be forced into a contract? Explain
York College, CUNY
STRATEGIC 68798
Chapter 5
1)What are the promises contained in a contract known as?
- Can people be forced into a contract? Explain.
- Is a promise to do something for someone else enforceable as a contract? Explain.
- Why should a contract be in writing?
- Identify the main features of a contract:
- How is the concept of agreement a key part of a contract?
- Explain the genius of contract law.
- Can a contract be accidentally created? Explain.
- Can anybody sue on a contract? Explain.
- How does a contract ensure that each party gets what it bargained for?
- What does a judge rely on to guide its deliberations to resolve a contractual conflict?
- What determines whether legislation or common law must be followed to resolve a contractual dispute that has been brought before the court?
- In what way is contract law considered to be facilitative?
- Is ignorance of the law an excuse in contract law?
- What is the danger of relying on casual understandings in business relationships?
- Why is it important for the businessperson to know when simple business communications crystallize into legal obligations?
- Briefly outline Albert Carr’s claims regarding the morality of businesspeople.
- What is the first and foremost concern of contract law?
- Discuss the objective standards test.
- How is the normal position taken by courts in relation to inequality of bargaining power impacted by standard form contracts?
- What is the business reality regarding equality of bargaining power between negotiating parties?
- What is the rationale behind the law’s approach to inequality of bargaining power?
- Is the general approach to inequality of bargaining power ever ignored by courts?
- Why should a business person take business relationships into account when deciding whether to sue for breach of contract?
- Is there any downside risk to strict observance of legal rights? Explain.
- Even with a contract in place, can issues arise? Explain.
- How can a manager approach the problem of a customer who seeks to restrict a contract?
- Are there criminal consequences to breaching a contract?
- What options are available to a party if it receives a better offer for limited goods it has already contracted to supply to another party?
- What should a business be prepared for if it decides to ignore the performance of its contractual obligations?
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