Tag (SQ): Contract Law
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- 1 Marks
Can Robert’s statement “This is the sharpest car on the market” support a claim for misrepresentation?
Question
Robert makes the following statement while negotiating the sale of his car, “This is the sharpest car on the market.” His statement may support a claim for:
A misrepresentation.
B fraud.
C fraud and misrepresentation.
D none of the above.
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- 1 Marks
Eckerly Realty’s offer expires June 30. Masse’s acceptance arrives July 1. Is there a contract?
Question
On May 1, 2005, Eckerly Realty Inc. mailed a written offer to Masse for the sale of an office building. The offer included an express term that it would expire on June 30, 2005, if the acceptance was not delivered into the hands of the offer by the expiration date. On June 30, 2005, at 8:00 a.m., Masse sent a written acceptance to Eckerly via Masse’s personal messenger. However, the messenger was not able to deliver the acceptance until July 1, 2005. On July 2, 2005, Eckerly contacted Masse, informing him that the acceptance had been delivered one day late. As a result, Eckerly refused to honour the acceptance. Which of the following is the most correct statement?
A However, if Masse would have mailed the acceptance on June 30, 2005, a contract would have been created.
B There is a contract between Eckerly and Masse. The moment that Masse gave the acceptance to the messenger; a contract was formed because acceptances are valid immediately upon dispatch.
C There is a contract between Eckerly and Masse. The fact that the acceptance arrived only one day late is of no significance.
D There is no contract between Eckerly and Masse.
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- 1 Marks
Which contracts fall under the statute of frauds?
Question
In most states the following types of contracts are within the statute of frauds:
A Contracts for the sale of an interest in personal property.
B Contracts that can be performed within a year from the date of their formation.
C Contracts for the sale of goods.
D Contracts for the sale of goods for a price of $500 or more.
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- 1 Marks
Back-Talk offers to sell servers to Gatekeeper, who requests faster delivery. Is there a contract?
Question
On May 1, Back-Talk Computer Store offered to sell five (5) computer servers to Gatekeeper Company for $5,000.00 each, delivery to be on May 30. Later that day (May 1), Gatekeeper responded that it would buy the computers only if they were delivered within three business days. Back-Talk notified Gatekeeper the next day, May 2, that it would not be able to deliver the goods within the time requested by Gatekeeper. Which of the following is true regarding Back-Talk’s offer?
A There is no contract between Back-Talk and Gatekeeper.
B Gatekeeper’s additional term became part of the contract, so Back-Talk is obligated to deliver the goods within three business days.
C Back-Talk’s offer was accepted by Gatekeeper.
D Gatekeeper may later accept Back-Talk’s May 1 offer if it is then willing to accept delivery in four weeks.
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- 1 Marks
Sammy sues Larry for non-payment of $400 for a car after 8 years. Is the contract enforceable?
Question
Sammy agreed to sell, and Larry agreed to buy Sammy’s car for $400, payable upon delivery. Sammy delivered and left the car with Larry. However, Larry failed to pay Sammy the $400. After eight years had passed following the delivery and acceptance of the car by Larry, Sammy sued Larry in state court for failure to pay him the $400. Based only on the above stated facts, which of the following statement is most accurate? Assume the UCC applies and the statute of limitations for oral contracts is two years and for written contracts is four years.
A No contract was ever created between Sammy and Larry.
B A contract was created but likely not enforceable because the statute of limitations has expired.
C A contract was created, but it is only enforceable if it is in writing.
D A contract was created and is enforceable.
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- Tags: Breach of Contract, Contract Law, Enforceability, Statute of Limitations, UCC
- Level: Level 1
- Topic: Contract Law
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- 10 Marks
List four timelines under the Sale of Goods Act, 1962, for seller's delivery obligations.
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- Tags: Contract Law, Delivery Timelines, Sale of Goods, Seller Obligations
- Level: Level 1
- Topic: Sale of Goods
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- 20 Marks
Explain hire purchase and implications of a buyer's death in a credit sale.
Question
PREMIUM GH. LTD
Premium Gh. Ltd entered into an agreement with the Controller and Accountant General’s Department, by which monies were deducted at source on the salaries of workers who had benefited from its Christmas credit sales scheme by way of Hire Purchase. Unfortunately, Mr. Yaw got infected with a virus and passed away shortly after enjoying the credit sales.
Required:
You are the only law student in the accounts department, and your boss has asked you to:
(a) Explain the nature of a Hire Purchase arrangement and the implication of Mr. Yaw’s death.
(b) In TWO (2) ways, differentiate between a Hire Purchase and a Deferred Payment.
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- Tags: Contract Law, Deferred Payment, Hire Purchase, Sale of Goods
- Level: Level 1
- Topic: Sale of Goods/Hire Purchase
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- 20 Marks
Can Kofi justify ratifying a contract made by his agent beyond authority?
Question
KOFI
Kofi, acting for and on behalf of Mensah, was authorized to purchase Two Thousand Ghana Cedis (GH₵2,000) worth of corn for Adwoa. Kofi bought the corn in Adwoa’s name at Two Thousand Five Hundred Ghana Cedis (GH₵2,500), which was clearly beyond his authority. Mensah was to ratify. Adwoa then failed to take delivery of the corn.
Required:
(a) Explain whether Mensah would be justified in ratifying the contract entered by Kofi and Adwoa.
(b) Explain the concept of “Agency of necessity”.
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- 20 Marks
Describe types of agency relationships, ways to terminate them, and agent rights.
Question
AGENCY RELATIONSHIP
The primary purpose of agency relationships is to bring the principal and third party into contractual relations. Thus, the underlying principle of agency is the power of an agent to alter his principal’s legal relations with third parties.
Required:
(a) Describe TWO (2) types of agency relationship.
(b) Explain FOUR (4) ways in which agency relationships can be terminated.
(c) State TWO (2) rights of an Agent.
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- Tags: Agency, Agency Relationship, Agent Rights, Contract Law, Termination
- Level: Level 1
- Topic: Agency
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