Question

1. which of the following is not an element of a contract? a. signature b. legality c. offer d. consideration 9. sam, a fifteen year old, has run out of money while on a trip away from home. todd gives him food, a place to sleep, and his bus fare home, in exchange for sam’s promise in writing to pay todd $200 to cover these costs. in this situation: a. this promise is unenforceable under the theory of misrepresentation b. sam owes nothing because minors are never obligated to pay what they promise to adults c. sam owes nothing because only minors can disaffirm a contract and the exceptions do not apply in this case d. sam owes todd reasonable value because sam is a minor and this falls under the necessaries of life exception 10. consideration can be a. money. b. property. c. services. d. all of the above. 11. the person that makes the offer is called the a. offeree.

Explanation:

For question 8, elements of a contract typically include offer, acceptance, consideration, and legality. A signature is not an essential element as contracts can be oral in some cases. For question 9, minors are generally not bound by contracts but there's an exception for necessaries of life like food, shelter, and transportation in this case. For question 10, consideration can be money, property, or services.

Answer:

1. a. Signature
2. d. Sam owes Todd reasonable value because Sam is a minor and this falls under the necessaries of life exception
3. d. all of the above