In Gilbert Steel Ltd

question 154

Multiple Choice

In Gilbert Steel Ltd. v. University Construction Ltd., what did the Court find on the issue of consideration?

• A) Because the Court will not look into the adequacy of consideration, a one-sided agreement is enforceable.
• B) A one-sided agreement is, in law, a form of unilateral contract.
• C) A one-sided agreement is not enforceable.
• D) A one-sided agreement is only binding if its essential terms are reduced to writing.
• E) Because commercial parties dealing at arm's length were involved, a one-sided agreement is valid.

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Definitions:

Intestate Succession

The legal process by which property is distributed to heirs according to state laws when someone dies without a valid will.

Domiciled

The legal term for the country or place where a person has their permanent home or principal establishment and to which they intend to return.

English Feudal System

A hierarchical system of land ownership and duties in medieval England, centered around the king granting land to lords in exchange for military service.

Disposition

The act of selling, giving, or transferring ownership or control of property or assets.