Please answer based on your knowlege or search it.

1.Why is exclusion clause important in buisness contracts, and how is it different from a disclaimer clause?

2.A contract is binding if the consideration involved is a commitment not to do something, as opposed to a promise to do something.

Applying the legal principle(s) discussed in contract law, explain the accuracy of this statement.

3.Does the standard of care in negligence vary or diminish with age? Explain clearly your answer based on legal principles discussed in class.

4.When does the risk transfer to the buyer in a sale of goods transaction? Explain the exceptions to this general rule.

5.If Mario trades his wristwatch for an umbrella at a flea market, can he rely on the implied terms of theSale of Goods Actto ensure that the umbrella will be of merchantable quality? Explain with specific attention to relevant legal concepts.

Thanks!