Answer the following statement(s) true (T) or false (F)
1. A person who lacks the mental capacity to contract may be liable for the reasonable value of necessary items provided to him.
2. Past consideration will not support a contract because it was not bargained for or given in exchange for a promise.
3. Consideration includes doing or refraining from that which one has a right to do, even if it has no economic value.
4. A fully executed contract discharges the parties’ obligations under the contract.
5. A counteroffer acts as a revocation of an offer.
1. True
2. True
3. True
4. True
5. False
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Explain the ways a purchase of real property may be financed.
What will be an ideal response?
Most mortgage loans are repaid monthly.
Answer the following statement true (T) or false (F)
A request for a court order in connection with a case that is pending in court is called:
A) request B) order C) trial D) motion
In the Model Penal Code, a crime for which the maximum penalty is five years' imprisonment is called a
A. ?capital offense. B. ?first-degree felony. C. ?second-degree felony. D. ?third-degree felony.