If a social agreement is made between friends and it is subsequently breached, is a contract presumed: Graduate Diploma in Commercial Law Casestudy, UOL, Singapore

Question 1

If a social agreement is made between friends and it is subsequently breached, is a contract presumed? Give reasons for your answer.
Question 2

It is said that generally, commercial institutions such as banks should be alert when dealing with parties whose relationships with each other are of a noncommercial nature, e.g. husband and wife, father and son, etc. Briefly explain why this is so.
Question 3

Briefly examine the distinction between a condition and a warranty.

Question 4
David’s SME employer wants to unilaterally change the terms of his employment contract. Briefly discuss if David’s employer can legitimately do this.