Law

11. In relation to existing duties, which of the following statements is incorrect?a) b) c)d)Performance of existing duties can never amount to good consideration.Where the existing duties are exceeded, this may amount to good considerationWhere the promisee confers a benefit on the other party, this may amount to good consideration.Where the promisee assists the other party in avoiding a detriment, this may amount to good consideration12. Ana) Between friends and social acquaintancesb) Between husband and wifec) Where parties in a commercial relationship have established the agreement between them is'in honour only'd) Between parties in a commercial relationship13. Where a meaningless term is used in an agreement, the effect is?a) The entire contract will be held unenforceable.b) It has no practical effect on the contract - the whole contract is enforceablec) This term, rather than the entire contract, may be held unenforceable.d) The courts will order the parties to re-write the contract to more accurately identify whattheir intentions were.14. In relation to minors, which of the following types of contract is not voidable but binds the minor?a) Contracts involving the sale of sharesb) Leasingpropertyc) Contracts of partnershipd) A contract for necessities15. Which of the following is NOT a type of mistake in contract law?a) Frustrated mistakeb) Common mistakec) Mutual mistaked) Unilateral mistake16. Which of the following elements is incorrect in establishing an actionable misrepresentation?a) A statement of material fact that induces the other party into the contractb) A false representationc) The innocent party did or did not believe the statement to be trued) The representation induced the party into the contract.