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Business Law in Canada Study Set 1
Quiz 6: The Elements of a Contractconsensus and Consideration
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Question 161
Essay
Joe,a university student,parked his car near Harry's garage and went away to attend classes.Harry had noticed that there was glass on the street when he came to work that morning and was not surprised when he saw that several of the students' cars parked in that location subsequently had flat tires.He went around when he had time during the day,to each of those cars,fixed the tires and put a bill on each vehicle charging $15 for the service.Joe had come back during the day and noticed his flat tire,and when he came back that evening was grateful that it had been fixed.He went over to the garage to thank Harry and told him that he would be happy to pay the $15,but he couldn't do it until next week.In fact,he failed to pay the money,and Harry sued him for breach of contract.Explain the likely outcome.
Question 162
Essay
Discuss the requirement of consideration and its role and value in the formation of contracts.In your answer,make sure to deal with the issue of fairness in the bargaining process.
Question 163
Essay
Explain the principle of promissory estoppel and how it relates to the requirement of consideration in contract law.In your answer,explain any limitations on its availability.
Question 164
Essay
Discuss the "freedom of contract," explaining what the implications and limitations are in the context of contract law.
Question 165
Essay
Discuss the requirement of consensus in the formation of contract.In your answer,consider the role of offer and acceptance,and also look at the degree of understanding required between the parties.