Question: Tate enters into a written, signed contract with Smith under the terms of which Smith is to pay Tate $ 7 , 0 0 0

Tate enters into a written, signed contract with Smith under the terms of which Smith is to pay Tate $

7, 000

and Tate is to build a garage, repair a boat, and build a doghouse. If Tate finished the garage and repairs the boat, but the doghouse has not yet been built, which term describes the type of contract in existence?

Group of answer choices

executory contract

unilateral contract

executed contract

illusory contract

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!

Determine the force in members GF, FB, and BC of the Fink truss and state if the members are in tension or compression. 600 lb 800 lb 800 lb E 60 30 60 30 D -10 ft -10 ft- -10 ft-

Question 1 To be effective, an offer must: Group of answer choices None of these. be sufficiently definite and certain. manifest an intent to enter into a contract. All of these. be communicated to...

Samuel Tate enters into a contract with Bill Smith under the terms of which Smith is to pay Tate $ 7 , 0 0 0 and Tate is to build a garage, repair a boat, and build a doghouse. If the doghouse has...

Question 6 The difference between an express contract and an implied in fact contract is the manner in which the parties manifest assent. Group of answer choices True False Question 7 Ronald says to...

Question 1(12 points) Saved On February 1, Lumber Store Owner offered to sell 2,500 board feet of 8 x 10 lumber to Hardware Store Owner for $5,000. Lumber Store Owner gave Hardware Store Owner a...

can someone answer these asap? Contract Law Final Exam Vanessa Fayad Start: 2:02PM Question 1 (12 points) Saved On February 1, Lumber Store Owner offered to sell 2,500 board feet of 8 x 10 lumber to...

BMGT 380 - Final Exam Questions for E-resources - Fall 2014 Multiple Choice: 1 point each 1. Sam orally agreed to sell Jamie some land for $500,000. Jamie paid Sam the $500,000; Sam gave Jamie the...

Chapter 6 from The Legal and Ethical Environment of Business was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as...

1. Daniel Dimwit sees an advertisement for a toaster oven at Target for the price of $49.00. When he gets to Target they are all sold out. Sears has the same toaster oven for $60.00. Can Mr. Dimwit...

Good morning i have an assignment Business law 30 questions. 1-When offered an elephant for his new circus act, Conway the Clown says, "I accept but only if you send a written contract." Which of the...

Earth bought 30 million shares in Island on 1 October 20X8, when Island had reserves of 45m. During the year to 30 September 20X9, Earth sold goods to Island at a gross profit on selling price of 30...

Refer to the information in Exercise 19-25 in answering the following requirements. There is no connection between the requirements. In Exercise 19-25 REQUIRED 1. Mayfield produces 2,000 defective...

Home Depot wants to buy a new line of fertilizers. co A offers a 2 1 ? 1 3 chain discount. co B offers a 2 5 / 8 discount. Both co . have the same list price. A . What is the percentage of discount...

Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company, which operates with monthly accounting periods. All of the companys...