Which of the following is correct regarding conditions in contracts?Multiple choice question.They can be implied by an oral agreement preceding the creation of the contract.They can be mandated by the court.They can be implied by an oral agreement at the time of the creation of the contract.They can be expressly inserted into the contract by the parties.
Question
Which of the following is correct regarding conditions in contracts?Multiple choice question.They can be implied by an oral agreement preceding the creation of the contract.They can be mandated by the court.They can be implied by an oral agreement at the time of the creation of the contract.They can be expressly inserted into the contract by the parties.
Solution
All of the options are correct regarding conditions in contracts.
-
They can be implied by an oral agreement preceding the creation of the contract: This is true because sometimes, the terms of a contract are not explicitly stated but are implied from previous oral agreements or conduct of the parties.
-
They can be mandated by the court: This is also true. In some cases, if a dispute arises and the court is involved, the court can impose certain conditions on the contract.
-
They can be implied by an oral agreement at the time of the creation of the contract: This is similar to the first point. The conditions of a contract can be implied from an oral agreement made at the time the contract is created.
-
They can be expressly inserted into the contract by the parties: This is the most common way conditions are included in contracts. The parties involved in the contract can expressly state the conditions they want to include.
Similar Questions
What type of conditions are explicitly stated in a contract?Multiple choice question.ImpliedInferredExpressInsinuated
______ conditions are explicitly stated in the contract.Multiple choice question.SubsequentConcurrentExpressImplied
Which of the following statements about bilateral and unilateral contracts is not correct?Group of answer choicesA unilateral contract does not require consideration (which means exchange of obligations) but simply a promise to perform an act is sufficientMore than one party is required for both bilateral and unilateral contractsBoth parties are obligated to perform their promises in a bilateral contractOnly one of the parties is obligated to perform an action in a unilateral contract
Which of the following is a condition that is not explicitly stated, but is inferred from the nature and language of the contract?Multiple choice question.ImpliedMitigatingConcurrentExpress
Which one of the following elements is not necessary for a contract? a) Competent parties b) Reasonable terms and conditions. c) Free consent d) Lawful consideration
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.