A Necessary Element of a Contract Is That the Parties

question 80

Multiple Choice

A necessary element of a contract is that the parties must have the intention to be legally bound.Which of the following is true with regard to this element of a contract?

• A) In contract cases, the court hears evidence as to what the parties actually had in their minds at the time of contract.
• B) If the parties fail to state expressly in their contract their intention to be legally bound, there is no contract.
• C) The court always just presumes an intention to be legally bound, so this is never an issue in a contract case.
• D) The court can presume the intention to be legally bound, but a party to the contract can bring forward contrary evidence to rebut the presumption.
• E) Family members can never have the intent to be legally bound in their agreements because family matters are private matters.

Recognize the developmental aspects of modeling and its importance from infancy through adulthood.

Understand Bandura's stance on behavior modification and criticisms of his work.

Understand Bandura's theories on observational learning and aggression.

Recognize the significance of self-efficacy in various domains like academic performance, job performance, and personal achievements.

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Definitions:

U.S. Dollars

The official currency of the United States, symbolized as $ and also known as USD.

Department Stores

Large retail establishments offering a wide range of products across multiple departments.

Ad Valorem Duty

A tax charged as a percent of the value of the item.

Foreign Manufacturer

A company that produces goods in a country other than where the goods are sold or consumed.