Question: 1. True or false. A contract in writing would be valid and enforceable even if it is lacking in consideration. 2. True or false. Martin

1. True or false. A contract in writing would be valid and enforceable even if it is lacking in consideration.

2. True or false. Martin entered into a contract with Sally to purchase life insurance from Sallys company. The UCC would regulate this agreement.

3. True or false. Charles, who owned a large mansion, said to his gardener Mark, I would like you to redesign the look of my backyard. If you can do this while I am away on vacation, I will pay you $20,000. Mark did not say a word in response, but had everything completed by the time Charles returned from vacation. A valid and enforceable contract has been created.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

True or false. A contract in writing would be valid and enforceable even if it is lacking in consideration.

4. True or false. A contract in writing would be valid and enforceable even if it is lacking in consideration.

4. True or false. A contract in writing would be valid and enforceable even if it is lacking in consideration. 5. True or false. Martin entered into a contract with Sally to purchase life insurance...

1.The Statute of Frauds would render the contract illegal if it was not in writing and signed. Is it true or false? 2.The contract of guarantee is subject to the Statute of Frauds . True of false...

1. True or false. Jack found a sick cat belonging to Dolores, and nursed it back to health. When Dolores discovered what Jack had done, she thanked him profusely and promised to pay him for the care...

1. True or false. Jack found a sick cat belonging to Dolores, and nursed it back to health.When Dolores discovered what Jack had done, she thanked him profusely and promised to pay him for the care...

All of the questions are of the true/false and please short explanation. 1. True or false. Jack found a sick cat belonging to Dolores, and nursed it back to health. When Dolores discovered what Jack...

1 (0.5 points) Question 1 Saved Honor Code Statement. By selecting \"True\" I am stating that I will receive no assistance from any outside source, including notes, texts or other persons, while...

You are the manager ofa local bagel shop in your community.During the day while you are working at the shop,a man wearing white overalls who has a bucket and a window cleaner tool in his hand,taps on...

A seven-year, 5 percent coupon bond is sold at par. However, soon after the bond is sold the going rate for this bond is 5.01 percent. What will be the price of this bond? 2. A 12 percent coupon bond...

A column chromatography procedure for the separation of a polar and a non-polar compound calls for sequential elution with the following two solvents: methylene chloride / hexanes Which solvent...

1 . You have just won the Strayer Lottery jackpot of $ 1 1 , 0 0 0 , 0 0 0 . You will be paid in twenty - six equal annual installments beginning immediately. If you had the money now, you could...

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...