Discussion question help

May 9th, 2015
HelloWorld
Category:
History
Price: $15 USD

Question description

1. List and provide examples of the essential elements necessary to form a valid contract. Under what conditions can contractual duties be modified? When does promissory estoppel apply?  Provide an example.

2. What is the difference between a material breach of contract and a nonmaterial breach of contract? What are some examples of legal and equitable remedies available for breach of contracts? What are some legal excuses for nonperformance or other grounds for discharge of contracts? Provide examples.

3. The Statute of Frauds has two different applications:  one with the UCC (contracts for the sale of goods) and one with certain contracts not involving the sale of goods.  The UCC provision is simple - if the contract involves the sale/lease of goods and it is for $500 or more, then the contract must be in writing to be enforceable under the UCC's Statute of Frauds - UCC 2-201(1), 2A-201(1).  The "other" Statute of Frauds kicks in and requires that the contracts be in writing under the following circumstances:

• contracts involving interests in land (sales or leases)

• an executory contract that cannot be performed within one year

• contracts to pay the debt of another

• contracts made in consideration of marriage (prenuptial agreement)

What if you have a contract for a piece of real property for $350 - is the contract enforceable under the Statute of Frauds?  Why or why not?


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Purdue University
PREMIUM TUTOR

Studypool has helped 1,244,100 students

Summary
Quality
Communication
On Time
Value
Five Star Tutor
Feb 21st, 2017
" Outstanding Job!!!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1825 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors