Description
Please answer following 2 questions. each with minimum of 200 words. Each question must have a Reference.
q1.: What is rescission of a contract? When can/should it apply? What is specific performance in contract situations? When can/should it be applied? Of these two remedies, which is most likely to be used? Thoughts?
q2: What are the required elements of a contract? Is there a difference between a contract and an enforceable contract? What is required in order to have an enforceable contract? Does it have to be written? Are the requirements different for intellectual, tangible and/or real property or are tehy the same? Thoughts?