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
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.
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