Watch the following videos, read the article, and answer the questions that follow:
Read the article:
Article in Word format:
1) The 5 elements of a contract are:
i)
ii)
iii)
iv)
v)
2) According to the video “Capacity”, what are the three primary types of incompetent people?
i)
ii)
iii)
3) According to the video “Capacity”, what is the difference between “restoration” (minor contracts) and “restitution”?
4) According to the video “Contracts: What is a contract?”, an easy way to understand consideration, is that each party has to _______________ _______________ and _______________ _______________ ” .
5) According to the video “Contracts: What is a contract?”, “the amount of consideration in the United States usually _______________ _______________ _______________.”
6) According to the video “9. Contracts: Consideration”, “The requirement of consideration functions to distinguish ________________ meaning a legally enforceable promise, from a promise to make a _______________ sometimes called a _______________ promise.
7) According to the video “9. Contracts: Consideration”, “In almost all commercial transactions, _______________ is not an issue.
8) According to the video “9. Contracts: Consideration”, “Where any benefit to the promisor is non-economic… a court will _______________ the transaction more closely…”
9) In the article, “
“, assuming a marriage and a Power of Attorney (POA) are both forms of an agreement, or contract, what determination is critical in deciding whether either will be nullified, or VOIDED, as they pertain to Mr. Overtveld ?
10) Do you believe Overtveld, or his children, should win the case? Explain why.
https://www.coursera.org/lecture/corporate-commercial-law-part1/capacity-d65os
https://www.cbc.ca/news/canada/ottawa/multi-millionaire-annulment-lawsuit-1.5456835
another assignment
Law 1 – Assignment 1
Drafting a Legal Business Contract for the Purchase and Sale of Property
Format: Your assignment should be typewritten with your name and class section number at the top. Upload as a PDF, WORD or TXT file.
Use the SAMPLES of Contracts Clause Provisions and Contracts for the Sale of Goods (Word document) attached with this assignment, or you may perform internet searches to find the correct contract language to compose the contract.
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