It is your responsibility to answer all four questions. Take care to reply to all parts of each question. Please follow the guidelines, tips and grading rubric below. Answers should be a minimum length of ½ – 1 page each. Your writing should be in essay form, not lists of information. You are required to write in your own words, unless you are quoting or paraphrasing. Then you must use citations where necessary
1. Describe what the elements of a contract are. What are some
defenses one could argue to get out of a contractual obligation?
2. Describe the steps to forming a business entity. What should a person
consider when deciding to start up a business?
4. Explain the antitrust statutes; (The Sherman Act), (The Clayton Act),
and (The Federal Trade Commission Act)? Do you think the current
antitrust statutes are effective in preventing a business from
becoming a monopoly?