Can someone tell me if these are right
The use of exaggeration and argument by a seller to convince a buyer to enter into a contract will usually be considered:
a. fraud.
b. duress.
c. puffery.
d. undue influence.
Answer C puffery
A covenant not to compete will be enforced if it
a. is supported by consideration.
b. is reasonable with respect to duration and geographical scope.
c. does not unreasonably impair the ability of the covenantor to make a living.
d. both b and c.
Answer D both (a&b)
Exculpatory clauses as a group that purport to release parties from all liability are generally upheld by the courts
Answer false
Yes. D. is the best answer for the second question.
The third question is rather vague. As DrWLS pointed out in an earlier post, he found several cases where the exculpatory clauses were upheld by the courts. Does your text book have any information about this question?
Unfortunately the text doesn;t give much information on Exculpatory clauses. I did lots of research on the web and I am getting mixed reviews on it. Does question 1 look ok?
Thanks so much !
I suggest you ask your instructor about the exculpatory clauses.
Yes. Puffery is the best answer for the first question.
To determine if these answers are correct, let's go through the explanations:
1. The use of exaggeration and argument by a seller to convince a buyer to enter into a contract is referred to as "puffery." Puffery involves making exaggerated claims or statements of opinion, which are generally considered to be harmless and not legally binding. Therefore, the correct answer is indeed option C, puffery.
2. A covenant not to compete is a contractual agreement in which one party agrees not to engage in a particular business or occupation in competition with another party for a specific period of time and within a specific geographic area. In order for such a covenant to be enforceable, it must meet certain requirements. These requirements include being supported by consideration (such as payment or another benefit), and being reasonable in terms of the duration and geographical scope. To enforce the covenant, both conditions need to be met, so the correct answer is option D, both (a&b).
3. Exculpatory clauses are provisions in a contract that attempt to release one party from any liability or responsibility for certain actions, such as negligence or accidents. While these clauses are generally upheld by the courts, there are certain limitations and exceptions. Many jurisdictions impose restrictions on exculpatory clauses, particularly in contracts involving public policy concerns or situations where there is a significant imbalance of bargaining power between the parties. Therefore, the given statement, "Exculpatory clauses as a group that purport to release parties from all liability are generally upheld by the courts," is incorrect. The correct answer is false.
Based on these explanations, the answers you provided appear to be correct.