Lou Claims That He and Mira Entered into an Implied-In-Fact

question 78

Multiple Choice

Lou claims that he and Mira entered into an implied-in-fact contract. To establish this contract, it is not necessary to show that

• A) a court imposed a promise in the interest of fairness.
• B) Lou expected to be paid for providing services or prop?erty.
• C) Lou provided Mira with services or property.
• D) Mira failed to reject services or property provided by Lou.

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Definitions:

Term Partnership

A business arrangement between two or more individuals who have agreed to jointly conduct business activities for a specific period of time.

Dissolve

The formal closure or termination of a corporation or partnership, often involving liquidation of assets to pay creditors.

Express Authority

Explicit permission granted to an agent by a principal to perform certain acts or transactions.

Partnership Agreement

A legally binding contract that outlines the terms of a partnership, such as division of profits and losses, responsibilities of partners, and procedures for resolving disputes.