Question: BUSINESS LAW 1. Explain ONE (1) difference between an offer and an invitation to treat. (3 Marks) 2. Provide an example to show a counteroffer.

BUSINESS LAW

1. Explain ONE (1) difference between an offer and an invitation to treat. (3 Marks)

2. Provide an example to show a counteroffer. (3 Marks)

3. A 16-year-old girl wishes to buy an electric bicycle from a shop. Will the contract made between her, and the shop be valid? Explain. (3 Marks)

4. Explain your understanding of the rule that consideration need not be adequate. ( 3 Marks)

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!

Q:

Questions Chap 1 1. Consider the following cases and decide whether criminal or civil proceedings would result, and make a note of the parties in the action. a) Ali is being prosecuted for careless...

Q:

Please answer all questions Discuss the differences between unilateral offer and bilateral offer. (4 marks) What is Rule of Law? (4 marks) Describe the main functions of the Special Court. (4 marks)...

Q:

Please answer the whole question Discuss the differences between unilateral offer and bilateral offer. (4 marks) What is Rule of Law? (4 marks) Describe the main functions of the Special Court. (4...

Q:

1. What is meant by the term "meeting of the minds"? How is it significant to the formation of contracts? 7. Distinguish between an offer and an invitation to treat. Give an example of each. How does...

Q:

Question 1 (1 point) What is the legal principle of "limited liability"? Question 1 options: a) Shareholders' liability is limited to their investment in the corporation. b) Directors are not...

Q:

1. At age 16. Smith was a promising young hockey player. He was drafted by the Fredericton Firebirds to play for their club, a junior team one step below the professional league. One year into the...

Q:

CASE 1 Ann owns a shop selling prints. She placed an advertisement in the Friday edition of her local paper stating: 'Unique opportunity to own an original Bell print for 500 cash. One only...

Q:

Question 1 Lee works for an insurance company, Lee investigates and settles claims made for insurance compensation. Lee is an insurance Not yet answered Marked out of 1.00 Select one: Flag question...

Q:

s sf Define the terms opaque type and concrete type. [5 marks] The following is a shortened version of one of the definition modules described in the Modula-2 user manual: Provide a suitable...

Q:

Microkernel operating systems aim to address perceived modularity and reliability issues in traditional "monolithic" operating systems. (i) Describe the typical architecture of a microkernel...

Q:

How should a firm with natural resources be valued?

Q:

a. When goods are stolen, hotels rely on innkeeper statutes. What do the statutes generally hold? b. Why is this statute necessary? c. Didn't the hotel act improperly by issuing a second key to...

Q:

The present value of an uneven cash flow can be determined by using the annuity equations. Group of answer choices True False

Q:

Read the articles on journaling and review the template provided. Identify what approach, to journaling, in the articles you found useful and why. Post to the discussion forum that you have reviewed...