solution
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Myra agrees to sell
Connie her house for $250,000.00. The next day, a tornado destroys the house.
Will either party be bound by the terms of the contract?
O A. No, unless both
parties agree to rescind the contract.
O B. No, because the contract becomes
impractical due to the destruction of the subject matter.
O C. Yes, however out
of fairness the courts will allow additional time to repair the house.
O D. No, because the contract becomes
impossible due to the destruction of the subject matter.
As a general rule, an
illegal contract is
O A. automatically void
O B. conditionally voidable
O C. automatically
voidable
O D. conditionally void
When a person lacks capacity, generally those contracts
are
O A. void
O B. illegal
O C. unenforceable
O D. voidable
How would you manage a family meeting to decide if you have to close the company or try to save it? Imagine the composition of the family is: a) two brothers are the partner b) every brother has 2 children c)s 50% of the children will be part of the company
In this company, “X†you have a technical partner (50% of the capital), that is the new husband of the CFO (the remaining 50% of the capital). They are going to retire. They want to sell the company, but the son of the CFO (currently marketing director) wants to keep going on (he raised the revenues 800% in the last 5 years). How to solve the problem?
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