Contract of deed explanation

I'm not sure how to go about comparing a deed contract (known as a specialty contract) with a contract of guarantee! A specialty contract has to be in writing whereas a simple contract could be created orally or even by conduct In addition, whereas a simple contract must be supported by consideration moving from both parties to the other party, a specialty contract is valid and enforceable with only 'one way' consideration Moving on, a guarantee contract must be in writing but a contract of warranty needs only evidence in writing All clear?

Is contract of warranty and guarantee the same?. If not, how are they different. And Sir for 4 mark MCQs in section B, is it that we lose all 4 marks even if one part of the four mark answer is wrong while others are correct. For instance, a 4 mark true or false question has four parts requiring the statements to be termed as true or false. In case if we get 2 correct and 2 wrong, will we get two marks or lose all?.

To all intents and purposes they appear nowadays to be the same However, when I was learning the subject, a guarantee contract involved three parties (the debtor, the creditor and the guarantor) whereas a warranty contract usually involved only two - typically a manufacturer and a customer Looking just now on the internet, it seems that the two expressions are generally treated as synonymous In the general forum, from early March and titled 'F4 marking answers' I have recently answered the second part of your post