Knowee
Questions
Features
Study Tools

Contracts entered into between friends and family members may lack:  A. Capacity to contract  B. Consideration  C. Invitation to treat  D. Battle of the forms

Question

Contracts entered into between friends and family members may lack:

  • A. Capacity to contract
  • B. Consideration
  • C. Invitation to treat
  • D. Battle of the forms
🧐 Not the exact question you are looking for?Go ask a question

Solution

The contracts entered into between friends and family members may lack:

A. Capacity to contract: This refers to the legal ability of a person to enter into a contract. For example, minors, mentally incapacitated individuals, and intoxicated individuals may lack the capacity to contract. In the context of friends and family, it's possible that one party may not fully understand the implications of the contract, thus lacking capacity.

B. Consideration: This is something of value that is exchanged between the parties in a contract. It could be money, goods, services, etc. In the context of friends and family, it's possible that one party may not receive anything of value in return, thus lacking consideration.

C. Invitation to treat: This is an invitation to negotiate or make an offer. It's not an offer in itself. In the context of friends and family, it's possible that the parties may not formally invite each other to negotiate or make an offer, thus lacking an invitation to treat.

D. Battle of the forms: This refers to the situation where both parties to a contract send each other their standard terms and conditions, and each party claims that its own terms and conditions should apply. In the context of friends and family, it's unlikely that there would be a battle of the forms, as such situations typically occur in business-to-business contracts.

So, contracts between friends and family members may lack any of these elements, but it's most likely that they would lack consideration and invitation to treat.

This problem has been solved

Similar Questions

Define the legal principles of contract formation: offer, acceptance, and consideration.

Consideration, an essential element in the formation of a valid contract, may be identified as:

A contract may be formed by any of the following means except:Question 17Answera.Oralb.Intelligencec.Writtend.Expressed

Each partner has the authority to enter into contracts which are binding upon the partnershipGroup of answer choicesTrueFalse

To bind, both parties should have a specific intention that can create a legal relationship, resulting in an agreement.

1/1

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.