LAW

Law and Contractual Procedures

HND BM

Assessments (1 & 2)



Law and Contractual Procedures

HND BM

Assessment 1

Table of Contents

Assessment 14

Introduction4

MCQ's4

Conclusion9

References10

Assessment 212

Introduction12

Questions 112

a)The essential elements of a valid contract12

b)The concept of offer12

c)Difference between offer and invitation to treat12

d)Procedure to conduct the auction12

Question 213

a)The general rules of communication of acceptance13

b)The postal rule of acceptance13

c)The rules and procedure to terminate the offer13

d)Revocation of the Offer and Identify the Decision13

Question 314

a)Ethics14

b)The corporate social responsibility14

c)Misrepresentation14

d)The remedies for misrepresentation14

Conclusion14

References15

Law and Contractual Procedures

HND BM

Assessment 1

Introduction

This assignment is based on MCQ's highlighting the essentials of law and contractual procedures that are used on daily basis in dealing with business activities. It is extremely necessary for every individual to be aware of the conditions and warranties that are linked to the contracts and on should be well aware of the consequences that are attached to their breach.

MCQ's

Q1) Fill in the missing words using the box below.

Sufficient consideration is a promise given for a promise.

Past consideration is anything done before a promise in return.

Executed consideration is an act in return for a promise.

Consideration must Executory.

Q2) Which of the following statements is correct?

(i) The parties to a social or domestic arrangement are presumed not to have intended the arrangement to be legally enforceable

(ii) The parties to a commercial transaction are presumed to have intended the arrangement to be legally enforceable

Both (i) and (ii)

Q3) In a case of anticipatory breach, which of the following is open to the injured party?

(i) To treat the contract as breached

(ii) To allow the contract to continue until there is an actual breach

(i) only

(ii) only

(i) or (ii)

Neither (i) nor (ii)

Q4) How would you describe the price on the price label in terms of contract law?

An offer

A tender

An invitation to treat

An acceptance

Q5) what is the state of the relations between Nicholas and Derek?

There is a contract to sell at £600 so Derek may recover the car from Hughie as his property.

There is a contract to sell at £700 which has been terminated by Nicholas's breach when he sold the car to Hughie.

There is an offer from Nicholas to sell for £700 which is still open for Derek to accept.

There is an offer from Derek to buy at £700 which Nicholas cannot accept.

Q6) Valid considerations

(i) Must be of adequate and sufficient value

(ii) Must move from the promise

(iii) Must be given in every binding agreement

(iv) May be given before a promise in return

(ii) and (iii) only

(iii) and (iv) only

(i), (ii) and (iii) only

(ii), (iii) and (iv) only

Q7) In which of the following circumstances would legal intention be inferred?

A husband is promising to pay his wife a regular maintenance allowance.

A signed agreement between a separated husband and wife that the wife would pay the mortgage and the husband would transfer ownership of the house to the wife.

A mother is agreeing to pay her daughter an allowance in return for the daughter taking legal exams.

An agreement between a father and son that the father would buy the son a car providing the son worked in the father's garden for a ...