Bobbie Claims That Carly Breached Their Contract

question 56

Multiple Choice

Bobbie claims that Carly breached their contract. Carly responds that she never intended to enter into a contract with Bobbie. The intent to enter into a contract is determined with reference to

• A)the conscious theory of contracts.
• B)the objective theory of contracts.
• C)the personal theory of contracts.
• D)the subjective theory of contracts.

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Definitions:

Unsecured Debt

A type of debt that does not have collateral attached to it, making it riskier for lenders.

Bankruptcy Protection

Legal measures to shield individuals or entities from creditors when they are unable to meet their debt obligations, typically involving the restructuring of debts or liquidation of assets under court supervision.

Bankruptcy Case

A legal proceeding involving a person or business that is unable to repay outstanding debts, seeking relief through the distribution of assets or the reorganization of debts.

Procedures

Established ways of performing a task or process, often detailed in a series of steps to achieve a desired outcome.