ons Help All changes saved in Drive mes New. - 12. BI UAE . IEEE- The Questions: 1) Provide your definition of a contract by identifying and discussing the four elements that are essential to the formation of a legally binding contract. 2)Name five (5) specific means by which an offer may terminate, other than by its acceptance by the offeree 3)Among the situations that render an agreement other than voluntary and knowing, are duress. undue influence, fraud, and mistake. After stating the distinct meaning of each offer an example of how any which one would apply to a hypothetical fact pattern. 4)There are three instances by which an agreement is rendered illegal: identify the three and provide an example of each and explain the distinction among void, voidable and unenforceable. ORE 9 ** a Format Tools Add-ons Help All changes saved in Drive Normal text - Times New... 12 -BIVA D E I E E- 5)Discuss with specific regard to each, how the contractual capacity of minors, persons under guardianship, those who suffer from mental illness or defect, and finally those who are intoxicated affect the validity of a contract. 6)The statute of frauds is an important concept to the law of contracts, as is the parol evidence rule. What is the precise difference between the two? 7) Conditions with regard to a contract can be classified by how they occur (source) or by when they occur timing). Discuss the three types within each classification. ad-ons Help All changes saved in Drive Times New.. 12 - BI U A GE 1 I E 2 E- 3 so 8)Remedies that can be imposed by a court for breach of contract may be those at law or those in equity. Explain the difference between the two and provide examples of each type. 9)Both an agent and the principal have duties to one other which serve as the foundation of their relationship. Explain any three duties of each to the other 10)A principal with regard to a third party with whom they are doing business may be either disclosed, unidentified or undisclosed. To what do the three terms refer and generall the implications regarding the distinctions? o 29a W