week 5 and week 6 Questions and Problems – Dynamic business law

Hello,

The answer should not be copied from any other source, I appreciate your help in the below two questions, devided by two weeks:

Week 5:

5-1: Questions and Problems

Purpose

To assess your ability to:

• Explain the concept of consideration.
• Describe the rules regarding consideration.
• Explain what a promissory estoppel is and when it can be used.
• Describe an illusory promise.
• Explain how the UCC rules regarding consideration are different from the common law rules regarding consideration.
• Describe the difference between a liquidated debt and an unliquidated debt.
• Explain the concepts of accord and satisfaction.
• Explain the legal effect of a lack of capacity on a person’s ability to enter into a contract.
• Describe the circumstances under which a party would have limited capacity to enter into a contract.
• Explain the legal effect of entering into a contract for an illegal purpose.

Action Items

1. For Week 5, you will analyze the cases in the Questions and Problems based on the group to which your instructor assigns you.
   • Group 1: Chapter 15 (8 and 9) and Chapter 16 (7) in Dynamic Business La
2. For each assigned case, analyze the issue based on the following criteria:
   • Identify the parties involved in the case dispute (who is the plaintiff and who is the defendant).
   • Identify the facts associated with the case and fact patterns.
   • Develop the appropriate legal issue(s) in question (i.e., the specific legal issue between the two parties).Provide a judgment on who should win the case – be clear.
   • Support your decision with an appropriate rule of law.

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WEEK 6:

6-1: Questions and Problems

Purpose

To assess your ability to:

• Describe the importance of legal assent.
• List and describe the elements of mistake.
• List and describe the elements of interpretation.
• List and describe the elements of undue influence.
• List and describe the elements of duress.
• List and describe the elements of unconscionability.

Action Items

1. For Week 6, you will analyze the cases in the Questions and Problems based on the group to which your instructor assigns you.
   • Group 1: Chapter 17 (6 and 7) in Dynamic Business Law
2. For each assigned case, analyze the issue based on the following criteria:
   • Identify the parties involved in the case dispute (who is the plaintiff and who is the defendant).
   • Identify the facts associated with the case and fact patterns.
   • Develop the appropriate legal issue(s) in question (i.e., the specific legal issue between the two parties).Provide a judgment on who should win the case – be clear.
   • Support your decision with an appropriate rule of law.