1. Sophie Turner, publicly shows her love for vaping. Joe Jonas is a concerned husband. On...

 

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1. Sophie Turner, publicly shows her love for vaping. Joe Jonas is a concerned husband. On January 1, Joe announces to Sophie, "Soph, I bet you can't stop vaping. If you stop vaping for the entire year, I will pay you $5,000." Joe believes that if Sophie stops vaping for one year, she will "kick the habit." Sophie evidences her acceptance to Joe's terms, by putting out her vape device with a decisive click. On January 1 of the following year, Sophie approaches Joe and says "Time to pay up, Joe!" Joe, having been in the house with Sophie for the past year has no reason to doubt that she has refrained from vaping for an entire year, but states "Soph, I'm not paying you $5,000. This was for your benefit. You are going to be way healthier now. Let's enjoy your healthy lungs with a hike!" a. Identify and define the essential elements of a contract. b. Are the elements present in this hypo? Please support your conclusion by using the facts to prove that the elements are or are not present in this scenario. 2. Four (4) individuals intend to lease a building and operate a restaurant. Two of the individuals have substantial assets; two have experience in food management, but minimal assets. Please advise the individuals as to what factors they should consider when determining whether to enter (i) a partnership, (ii) form a corporation, or (iii) create a limited liability company. Please explain why these factors matter to each of the respective business organization. 3. What is the rationale for equitable distribution of marital property? What property is ordinarily excluded from marital property? 1. Sophie Turner, publicly shows her love for vaping. Joe Jonas is a concerned husband. On January 1, Joe announces to Sophie, "Soph, I bet you can't stop vaping. If you stop vaping for the entire year, I will pay you $5,000." Joe believes that if Sophie stops vaping for one year, she will "kick the habit." Sophie evidences her acceptance to Joe's terms, by putting out her vape device with a decisive click. On January 1 of the following year, Sophie approaches Joe and says "Time to pay up, Joe!" Joe, having been in the house with Sophie for the past year has no reason to doubt that she has refrained from vaping for an entire year, but states "Soph, I'm not paying you $5,000. This was for your benefit. You are going to be way healthier now. Let's enjoy your healthy lungs with a hike!" a. Identify and define the essential elements of a contract. b. Are the elements present in this hypo? Please support your conclusion by using the facts to prove that the elements are or are not present in this scenario. 2. Four (4) individuals intend to lease a building and operate a restaurant. Two of the individuals have substantial assets; two have experience in food management, but minimal assets. Please advise the individuals as to what factors they should consider when determining whether to enter (i) a partnership, (ii) form a corporation, or (iii) create a limited liability company. Please explain why these factors matter to each of the respective business organization. 3. What is the rationale for equitable distribution of marital property? What property is ordinarily excluded from marital property?

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Question 1 Essential Elements of a Contract a The essential elements of a contract are Offer A proposal made by one party to another indicating an intention to create a legal agreement Acceptance Unco... View the full answer