Questions and Answers of Business Law Legal Environment

What does it mean to say the assignee is “subject to the equities”?
The purpose of damages is to award monetary compensation for a breach of contract to compensate the injured party for the losses suffered. Indicate two limitations on this principle.
What is necessary for an assignment to qualify as a statutory assignment? What is the importance of such a designation?
What is the importance of the distinction between a breach of warranty and a breach of condition?
Which of the following is false with regard to remedies for breach of contract?a. The quantum (amount) of damages to be given to the victim of the breach may be limited to the amount specified in a
Explain what is meant by assignment in contract law, and indicate any limitations on what can be assigned.
If a victim of an anticipatory breach continues to insist on performance, what danger does he face?
In which one of the following instances would the seller most likely succeed in an attempt to escape liability by the use of an exemption clause?a. Where the store had posted at the entrance to the
What is meant by privity of contract? Indicate any exceptions.
For a contract to be frustrated, performance of the contractual obligation must be impossible. Discuss the accuracy of that statement.
We have the legal rule that “it takes a contract to end a contract”. Which of the following would not meet this requirement?a. Watson had contracted with Holmes to do some research. Watson asked
Mrs. Ewachniuk had a son and two daughters. In 2006 at the age of 90 she died leaving a $2 million estate. In 2004 she had changed her will and left everything to her son. He had once practiced law
When will the courts find a contract to be unconscionable? What effect will that have on the position of the parties?
Will anything short of the complete performance of the contractual terms amount to performance of the contract and discharge the agreement?
In all but one of the following situations, the contract is frustrated. Identify the exception.a. Jack contracts with Bill to build a barn on his one acre lot but before the permit is obtained, a new
Mr. and Mrs. Rodrigues entered into a contract to sell their home to Elizabeth Walters in July of 2004. Mrs. Walters paid a deposit of $10, 000 and the agreement was conditional upon Mrs. Walters
Explain what is meant by past consideration and why the designation is important.
Explain what is meant by a presumption with respect to undue influence, the effect of such a presumption, and under what circumstances those presumptions will occur.
What is the significance of an assignment being “statutory” rather than merely an “equitable” assignment?
With regard to the law governing privity of contract and assignment, which of the following is false?a. The privity of contract rule states that only the parties to the contract have rights and
Ms. Cassidy had a contract to work as part of an authoring team to produce a social studies text to be used in the public schools. Her contribution, among other things, was to provide a chapter on
Whether they were misled intentionally or innocently will not affect the nature of the injury suffered by the victims of false statements. However, it makes a significant difference to the remedies
Distinguish between a void and voidable contract. Why is this important to the discussion of duress and undue influence?
Explain the impact of the principle of privity of contract.
When the courts find that undue influence is present the resulting contract is:a. Voidableb. Voidc. Unenforceabled. Bindinge. Illegal
Vernon agreed to have the assets of his business sold at auction with the proceeds to be deposited in a bank account held jointly by Vernon and the auction company. Vernon was to get the first
Consider the discharge of a contract through frustration. There are several restrictions on the application of frustration, such as the fact that the interfering event must be unexpected and out of
Explain why it is easier to succeed with an action for innocent misrepresentation than for fraudulent or negligent misrepresentation.
What's the effect of a court determining that undue influence has been present in a contractual relationship?
With regard to the law concerning misrepresentation, which of the following is false?a. The case law does not give any remedy for a wildly exaggerated claim, such as “this is the best car ever
Robert Harrity, the principal of Northeast Yachts, acted as an agent in the sale of a Bayliner boat owned by Malcolm Clark and sold to Margaret Kennedy. As Kennedy looked over the boat, Harrity
Discuss the principle of privity of contract and whether it has any place in modern law. In your answer consider the problems it presents when the person injured by products or services supplied
Distinguish between innocent, fraudulent, and negligent misrepresentation, and indicate the remedies available for each.
Distinguish between innocent and fraudulent misrepresentation, indicating why the distinction is important.
In which of the following instances would the court most likely hold the contract to be void on the basis of a mistake?a. Barry and Mary contracted for the sale and purchase of a boat for the price
Miller supplied materials (aggregate) to the general contractor, Gottardo Construction, which was building a road extension for SLF. After supplying the material, Miller would invoice Gottardo, which
The law of contract is, to a large extent, based on the barter model. The guiding principle of this model is that the parties are in an equal bargaining position negotiating balanced terms with which
Distinguish between a shared mistake, a misunderstanding and a one-sided mistake and explain how a court would deal with each of these problems. What other terms are used to refer to such mistakes?
What is the effect if the requirements of the Statute of Frauds are not met? Will anything else other than actual writing satisfy the requirements of the Statute of Frauds?
Explain the provisions of the Statute of Frauds and when a contract must be in writing.
Explain what constitutes intention on the part of parties to contract.
What is required in order for a restrictive covenant to be enforceable?
What must be proved in order to escape liability of contracts on the basis of insanity or intoxication? List other situations where capacity may be a problem.
Explain the effect of a contract entered into between an infant and an adult on the parties to it. When will infants be bound by their contracts?
What is the relationship between a sealed contract and the requirement of consideration?
Explain what is meant by promissory estoppel and why it is important.
What is the effect in most jurisdictions of a creditor taking less in full satisfaction of a debt? Why?
Explain what is meant by consideration and the contract rule associated with it.
When will an acceptance sent by email or fax be effective?
When a unilateral contract is involved, how is acceptance accomplished?
Indicate what types of contracts are binding on infants.
What is the effect of the post-box rule and when does it apply? To what forms of communications does it apply?
Indicate under what circumstances parents are responsible for the contracts entered into by their children.
When and where is an acceptance effective?
What must a person establish in order to escape contractual obligations on the basis on inanity?
What is required for acceptance of an offer and how can such acceptance be accomplished?
Explain haw an insurance contract avoids being void as a wager.
If you pay $100 for a 90-day option on property offered at $200,000, which of the following is true?a. You have bought a 90-day period of time within which you may or may not accept the offer of the
Explain the requirements for an option agreement to be binding.
Just what has to be in writing to satisfy the requirements of the Statute of Frauds?
Which of the following is false with regard to contract law?a. An exchange of promises can be consideration adequate to form a contract.b. To form a contract there must be an offer which is accepted
Under what circumstances can an offer end before acceptance.
Distinguish between a void and voidable contract?
Which of the following is false with regard to contract law?a. If Henry of Vancouver contracts with Carl of Calgary by mail, an important criterion for determining the place of the contract is the
Explain consensus, its importance in contract law, and how such consensus is reached.
Why are manufacturers usually sued for negligence rather than for breach of contract? Why is an action in contract preferable for the victim?
Curtis Jutzi, the sole director and officer of Sunset, claimed to have entered into an oral contract with McGlynn Lumber for the sale of some land that McGlynn needed for access to certain woodlots
What is an exemption clause and how is it treated by the courts?
What role does the requirement of writing play in the formation of a contract?
Requirements of a contract include capacity of the parties to contract, legality, and intention of the parties to be legally bound. Which of the following is false with regard to these elements?a. A
Atria Networks LP wanted to acquire access to cable to establish a fibre-optic cable network with its partner throughout Ontario. They negotiated with MFN, which had a lease agreement with Telus, for
People who are insane are given special treatment with respect to the contacts they enter into. If they are so insane they don’t know what they are doing the contract isn’t binding if the other
What must be contained in an offer for it to form a binding contract?
Explain the nature of the post box rule.
Which of the following is false with regard to the intention of the parties to an agreement to enter into a legal relationship? Where appropriate, assume that all the other elements necessary to form
Stone and Polon were partners in an accounting firm that was dissolved when they both joined a larger firm. Eventually Stone left that firm and this action is brought to settle the accounts between
Consider the fact that in most jurisdictions only some forms of contracts have to be evidenced in writing to be enforceable. Many jurisdictions have made important changes to these requirements. What
One of the basic precepts in contract law is that any bargain struck must be fair to be enforceable. Explain the accuracy of that statement.
Indicate the incorrect statement about consideration.a. In a bilateral contract, the exchange of promises can provide consideration for both parties.b. The common law holds that consideration must be
Morley Shafron worked through his incorporated company Morley Shafron Agencies Ltd. and then sold his shares in that company to KRG Insurance Brokers (Western) Inc. He continued to work for them and
It is arguable that the requirement of consideration in a contract serves no other purpose than to indicate that the parties intend their agreement to be binding. Do you think that the continued
Explain any limitations on the availability of promissory estoppel.
Martin offered to buy property for $200,000: “Offer to remain open until 5:00 pm Thursday, January 21, 1993”. Which one of the following situations will not cause the offer to end?a. Insanity of
Steven Williams was a pedestrian when he was struck and seriously injured by the defendant. The driver’s insurance company was State Farm Insurance, and for payments of $2400 and $5300 he signed a
Consider the creation and use of the post box rule in terms of its original purpose, whether it met that objective, and whether its continued use can be justified today. In your answer consider
Explain the nature of the following torts: deceit, product defamation, inducing breach of contract, passing off, trespass to chattels, and conversion.
Explain what is meant by fiduciary duty and when such a duty arises.
Explain when a professional’s liability will be based on contract and when it will be based on tort. How is the standard imposed with respect to tort determined?
If I were to carelessly injure the hand of a musician, on what basis would damages be determined, given the victim’s occupation?
Explain how the problems with remoteness in a negligence action have been substantially resolved in recent times.
How have the principles of contributory negligence and voluntary assumption of risk been modified in recent times?
Explain what is meant by strict liability and when it might be imposed on an occupier of the property. Explain how the standard of care imposed on occupiers been modified by statute?
Explain the role of the Donoghue v Stevenson and Anns cases in determining duty of care.
What must be established in order to successfully sue for negligence?
Explain the role of fault with respect to the tort of negligence.
Explain the difference between absolute and qualified privileged, and when these defences will be used. What is fair comment?
Distinguish between libel and slander. Why is the distinction important?
Explain what is meant by vicarious liability and when it is available?
Under what circumstances might one neighbour sue another for nuisance?
When a doctor treats or operates on a patient, explain why that patient cannot sue for battery?

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