Why does an illusory contract lack consideration

Assignment Help Operation Management

Reference no: EM132308329

1. Why does an illusory contract lack consideration?

A. because the consideration promised is unlawful and therefore void

B. because the person promises to perform an act or do something he is already under an obligation to do

C. because one or both parties can choose not to perform their contractual obligations

D. because the compensation paid is for work done in the past

2. Which of the following is true for applying promissory estoppels to a contract?

A. Both parties must suffer legal detriment.

B. Injustice would be caused if the promise were not enforced.

C. They can be applied for illusory promise contracts.

D. They can be applied for gift promise contracts.

3. The mirror image rule states that _____.

A. the offeree’s counteroffer should match the value of the offeror’s offer

B. the offeree is allowed to modify the terms of the offer

C. the offeror can modify the terms of the offer even after the offeree has accepted it

D. the offeree must accept the terms as stated in the offer

4. When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit?

A. Aeconomic

B. political

C. technological

D. competitive

E. multinational

5. For each of the electoral systems listed below, please list two countries that have adopted these systems with explanation.(6 marks)

a) Plurality system b) Majority system c) Proportional representation

Reference no: EM132308329

Questions Cloud

Explain how you will apply static check-dynamic check : Explain how you will apply a static check and a dynamic check to this new order on 10/1

What is cricket wireless current financial condition : What is Cricket Wireless current financial condition? Is it improving or deteriorating? Also, what are the firm's current long-term objectives?

Input for the plan quality management process : Input(s) for the Plan Quality Management Process include _______. Data gathering techniques to plan quality management include ____.

Contribute to the development of prejudice : Discuss the three major factors that contribute to the development of prejudice.

Why does an illusory contract lack consideration : Which of the following is true for applying promissory estoppels to a contract? Why does an illusory contract lack consideration?

For the television and radio marketing campaign : What is one metric that Digital Worldwide can use to measure the success of this marketing campaign?

What is the focus-emotional-political-satirical-moody : What is the focus? Emotional? Political? Satirical? Moody? Theme? Tone? Does it evoke any imagery?

Explain cultural distance and institutional distance : Explain cultural distance and institutional distance. How can these distances be overcome?

Lead the movement away from armed resistance : A former anti-apartheid leader recalls that Mandela did not try to lead the movement away from armed resistance.

User Account

All Pages