BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A contract is still binding even in the death of either party
A
True
B
False
Explanation: 

Detailed explanation-1: -If an offer to enter into a contract has been made and one of the parties dies, the offer usually lapses if the offer has not, or can’t be accepted. If there is a valid contract, and the subject matter concerns personal rights (like employment contracts for example) these contracts will naturally come to an end.

Detailed explanation-2: -Answers ( 2 ) When someone dies before completing an agreement to sale an immovable property, the agreement is valid and remains valid upon the death of the seller and it should be completed by all the legal heirs of the decides.

Detailed explanation-3: -While a void contract is completely unenforceable by law, a voidable contract is a valid agreement. However, the terms within a voidable contract provide one or both parties entering into the contract the ability to void the contract at any time.

Detailed explanation-4: -A breach of contract occurs when one party in a binding agreement fails to deliver according to the terms of the agreement. A breach of contract can happen in both a written contract and an oral contract. The parties involved in a breach of contract may resolve the issue among themselves or in a court of law.

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