business law
Which of the following would not be supported by consideration?
A promise to purchase all the donuts I want from Dunkin for $1.00 each
Kasey has three collector Gold coins that she offers to sell to each of Allan, Braden, and Lexie for $1000 each. the offer is in writing and specifies that acceptance must be received by email by December 1. In which if the following is there a valid acceptance?
All of the above
Which of the following would be enforceable if not evidenced by a writing?
Andrew is the Executor of his mothers estate and promises $3000 debt to the bank from is inheritance
on November 8, josh, an employee of Lowe's, offers to sell a kitchen range to each of Adam, Braden, and Carlo for $400 so long as each accepts the offer before a sales contest ends on November 15. in which situation is there a valid acceptance of Lowe's offer
B and C only
Which of the following would not be enforceable if not evidenced by a writing?
Barry promises the bank to pay his daughters car payments if she fails to make them
Promissory estoppel is a contractual doctrine that includes the following considerations?
Both A and B
in forming or attempting to form a contract, certain conduct can invalidate mutual assent. Which of the following most often involves the use of improper threats or acts?
Duress
which of the following is not generally required in order to have a valid contract?
Fairness of the bargain
On November 1 Graham offers to sell Taz a pair of brown Chaco's for $55, but doesn't specify how long the offer is goof. In march, Taz accepts Grahams offer but Graham has sold the Chaco's to Nick. What is the likely outcome if Taz sues Graham
Graham wins because his offer expired by the passage of time of both a and b
A bilateral contract is best described in which of the following
Jake agreeing to mow my yard in response to my offer to pay him $30.00 if he mows it
Noah orally agrees to buy Jonathan's coin collection for $1000, but there is not a written contract. in which of the following situations is Noah bound to buy Jonathan's coin collection?
Jonathan sends an email to Noah confirming that Noah will buy his coin collection for $1000 and Noah responds to Jonathan stating that he no longer has $1000 to buy the coin collection because he has had unexpected car repairs
on October 1, Jonathan, who is a potato farmer, offers to sell 40 bushels of potatoes to William for $10,000 per bushel. Jonathan does not state how long the offer remains open. Having not heard from William by November 15, 'Jonathan sells his potatoes at the farmers market . On November 21, William accepts Jonathan's offer. Jonathan alleges that the offer had expired and that there is no contract, but William alleges a valid contract. Which is the most likely outcome?
Jonathan wins because the offer expired after a reasonable period of time
Lowe's historically buys a straw from Milligan Farms. On feb 1, Lowes sends the owner of Milligan Farms an email confirming that it will buy 10000 bales of straw for $2.00 per bale to be delivered on March 1. On March 1, Milligan Farms refuses to deliver, claiming that there was no written contract. What is the likely outcome?
Lowe's wins because it sent an email confirmation to Milligan Farms, which Milligan farms didn't dispute
Which of the following is a valid offer to David
Megan offers to sell David her golf clubs for the fair market value and David wants to accept Megan's offer
On October 28, Noah offered Somang the position of web designer for one year at a salary of 60,000. Somang's job began on November 1. On january 1, Noah terminated Somang because he was unsatisfied with her work. Somang alleges breach of contract. What is the most likely result if Somang sues Noah
Noah wins because the contract for work could not be performed within a year and therefore must evidenced by a writing
David owes Carlo $1000 which is currently due. Carlo offers to reduce David's debt to $800 if he pays it now. David wants to accept Carlo's offer but wants to make sure that the contract regarding the reduced debt is enforceable. Which should David propose to Carlo so that their contract will be enforceable?
Propose to pay Carlo $800 and a bag of marbles
Damages for breach of contract which place the non-breaching party in a positition he was in before the contract was made is referred to as:
Restitution damages
Which of the following non-compete agreements would most likely violate public policy as an illegal restraint on trade
Verizon acquires t-mobile and t-mobile is prohibited from competing against Verizon in the global united states for 3 years
which of the following oral contracts made on november 1 is/are enforceable?
a and b
in which of the following does the offer remain effective as of October 31?
a and b only
A promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty is known as
a contract
the uniform commercial code would be applicable to which of the following situations
a contract to buy living room furniture
A contract made by which of the following is void?
a person under guardianship
An option contract is an offer which
all of the above
In which of the following would my promise be unforeseeable because there is not valid consideration
although Jake promised to mow my yard, Logan realizes that Jake is not going mow it because he is studying for a business law test. logan mows my yard and i promise to give him $30
which of the following contract duties would not be delegable
an obligation to paint my portrait
A voluntary transfer to a third party of the rights arising under a contract under a contract a called:
assignment
a transfer to a third party of a contractor obligation called
delegation
A(n) ______ contract is one in which the parties have manifested their agreement by oral or written language, or both
express
according to the mailbox rule, acceptance of an offer is effective when sent unless the acceptance
follows rejection
A promise against public policy:
has no legal remedy available for breach
Robert buys a life insurance policy and specifies that the death benefits should be paid to his granddaughter, Alyssa, at his death. Upon Robert's death, the life insurance company refuses to pay Alyssa, asserting that she was not a party to the contract. Because you had business law, she asks you which is her best legal argument to recover the death benefits from the life insurance company
intended beneficiary
If a party to a contract attempts to void the contract based upon "fraud in the inducement," the party will have to prove:
intentional misrepresentation of an material fact by one party to the other who justifiably relies upon the intentional misrepresentation
Which of the following does not cause a discharge of a contract
lapse of time
A debt to whose existence or amount is not contested is referred to as:
liquidated debt
A promisor's obligations under a contract can be discharged by all of the following except:
material breach by the promisor
Sharon, who is 16 years old, would not be to disaffirm a contract for which of the following:
medical treatment
article 2 of the uniform commercial code deals with what type of property
personal property
a party to a contract who makes a promise is a(n)
promisor
Gerald makes an oral promise to give his niece, Elissa, 5 acres of land to build a house. Elissa proceeds to build the house on the 5 acres. Her uncle failed to convey the property by deed before he died. Which is Elissa's best argument to have the executor of her uncle estate convey the 5 acres to Elissa?
promissory estoppel
which of the following do courts not normally award as damages in breach of contract claims
punitive damages
to invalidate mutual assent based upon fraud, knowledge of falsity and and intention to deceive is required. It can consist of all of the following except:
reliance upon represented facts
which of the following contract rights would not be assignable
rights to insurance coverage under an automobile insurance policy
in Anderson v McOsker Enterpirses Inc., Anderson signed a Release of Liability for the benefit of curves and then incurred injuries. Anderson sued curves and alleged that the release of liability was unenforceable as against public policy. the Minnesota supreme court held:
the Release of Liability was enforceable
in forming or attempting to form a contract, certain conduct can invalidate mutual assent. Which of the following is most often exercised form a confidential relationship or where one party has a position of dominance?
undue influence
Lee has been declared incompetent by the court and is under the care of his sister. Without his sister's knowledge, Lee rents a moonwalk inflatable for his birthday party. Lee's contract to rent out the inflatable is best described as:
void
Steven intentionally makes a material misrepresentation of fact regarding his motorcycle to Sierra who agrees to buy the motorcycle based upon the misrepresentation. This contract is:
voidable by sierra
In in re: The score board, Inc., the bankruptcy court and the appeals court ruled that the contract which kobe bryant entered as a minor:
was ratified by Bryant after he became an adult