I’m stuck on a Business Law question and need an explanation.
I just want you to answer these 6 questions. It can be simply and brief but accurate.
1. Express and Implied-in-Fact Contracts
(a) Using an instance in which you bought or sold something in the last week, describe the terms of an express contract that might arise between the supplier and the seller.
(b) When would an implied-in-fact contract arise between a seller and buyer?
2. Implied-in-Law or Quasi-contracts
why are courts willing to apply contractual principles when the parties fail to create contractual relationships?
3. Contractual Performance Terminology
Pat hires a tailor to make a suit. The tailor completes all the sewing and now waits for Pat to pick up the suit and pay for it. Is this contractual agreement executed or executory? Explain.
4. Lawful purpose
Hunt signs an equipment lease contract with Edwards Rental. The contract contains a clause stating: “Lessor disclaims all liability arising from injuries caused by use of this equipment. “Because the equipment has been improperly serviced by Edwards Rental, Hunt is injured while using it. If Hunt sues, will the disclaimer clause likely to be enforced? Explain
5. Duress or Undue Influence
Olaf wishes to hold his investment seminar at a local hotel. He offers $50,000 for conference rooms and food for a week. The hotel responds that this price is far too low. Olaf tells the hotel that if it does not agree to his price, Olaf will tell his employees to write hundreds of negative reviews on a hotel rating site and destroy the hotel’s reputation. If the hotel agrees to Olaf’s terms, may it avoid the contract under the doctrine of duress?
6. Exceptions to the Writing Requirement
Elegante Haberdashery telephones an order to Nordic Mills for 500 men’s shirts at $15 each. Each shirt will carry the Elegante label and have the Elegante trademark over the pocket. After the shirts are manufactured, Elegante refuses to accept delivery of them and raises the statute of frauds as a defense. Discuss whether this defense applies to these facts.