Discussion Questions

Write a 75-100 word response to each of the bulleted questions below. Each question must have its own response and meet the minimum word count.

1. Explain the difference between a between a void contract and a voidable contract. Provide examples.
2. Which party or parties to a voidable contract have the right to disaffirm the contract? 
3. Can written agreements be modified orally? Explain why or why not.
4. Explain the concept of enforceability and genuine assent.
5. What are some of the legal and equitable remedies available for breach of contracts?
6. What is the difference between a material breach of contract and a nonmaterial breach of contract?
7. Define what a condition is used for in a contract and distinguish conditions precedent from conditions subsequent.
8. Identify the ethical dilemmas that a manager faces in the context of good faith performance.
9. Explain the rights of third parties who have rights in a contract through assignment or delegation and third-party beneficiaries.