An Intention to Create Legal Relations Exists If

question 12

Multiple Choice

An intention to create legal relations exists if

• A)the promisor and the promisee have identified all the consideration involved in the contract.
• B)there is an offer,acceptance,and consideration.
• C)a reasonable person would believe that the parties intended to be bound by the contract.
• D)the court examines the facts and determines that the parties intended to enter into legal relations.
• E)the parties have capacity to enter into a contract.

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Definitions:

Tax Rates

The percentage at which an individual or corporation is taxed, which can vary depending on income levels or the type of goods and services.

Tax Revenues

The income that is received by a government from taxpayers, used to fund public services and government operations.

Keynesian

A theory in economics that emphasizes the total spending in the economy and its effects on output and inflation.

Monetarist Economists

Economists who believe that the variation in the money supply has major influences on national output in the short run and the price level over longer periods.