Circle the correct option in each of the following statements - Leaving Cert Business - Question 6 - 2019
Question 6
Circle the correct option in each of the following statements.
(i) When there is clear, complete and unconditional acceptance of an offer, there is an
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Worked Solution & Example Answer:Circle the correct option in each of the following statements - Leaving Cert Business - Question 6 - 2019
Step 1
When there is clear, complete and unconditional acceptance of an offer, there is an
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Answer
The correct option is legal agreement. This refers to a situation where an offer is fully accepted by the offeree, creating a binding contract.
Step 2
In a contract, each party must give something of value to the other party and this refers to
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Answer
The correct option is consideration. Consideration is a fundamental aspect of a contract where each party contributes something of value, making the agreement enforceable.
Step 3
Some contracts must be in writing if they are to be legally valid. This refers to
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Answer
The correct option is legality of form. Certain contracts, such as those relating to real estate, must adhere to specific formalities to be considered legally binding.
Step 4
Persons under the influence of alcohol or drugs do / do not have the capacity to enter
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Answer
The correct option is do not. Individuals impaired by substances may lack the mental capacity to understand or engage in a legal contract.
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