Q.28. What are the elements of a legally enforceable contact and the consequences of breach of contract?

What is the knowing misrepresentation of the truth in order to trick someone into entering into a contract? Fraud O Duress O Embezziement Mistake

the effect of the doctrine of privity of contract is that a. a person who is not a party to a contract cannot obtain benefits or rights under it b. a unilateral contract is unenforceable against parties who have privity c. parties to a contract are protectred by the law d. a person can obtain rights under a contract for which he or she is not a party

Factual errors can occur in two ways: unilaterally or bilaterally. What are the implications of both in terms of a contract? 2. Can a contract be void if a value or quality error is made? Why do you think it is?

Which of the following is not a ground for the extinguishment of an obligation?

Which of the following mistakes that does NOT render an agreement defective?    A)  identity of the party or parties    B)  identity of the subject matter    C)  terms of the contract    D)  existence of the subject matter

Are monetary obligations under a contract of surety intransmissible by their nature, by stipulation, or by provision of law?

Explain when exculpatory agreements, agreements involving the commitment of a tort, and agreements involving public officials will be held to be illegal.

Formalities in a contract can be self-imposed by the parties to a contract. Select one: True False

Which of the following is not a secondary mode of extinguishing obligations? * Changing the object of the obligation with the consent of the parties Death of both parties Compromise Prescription