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Bus. Law > Examples > Flashcards

Examples Flashcards

1
Q

John promises to give Ellen his sterero next week after he buys a new one. Ellen agrees to accept the gift. John subsequently changes his mind and gives the sterero to Rachel. Can Ellen sue John?

A

No: no consideration from Ellen

sufficient consider must be legal detriment-promisee or benefit-promisor

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2
Q

Chuck agrees to turn over his Rolex watch to Tina in exchange for $100. Chuck makes a promise while Tina is holding a gun to his head. Valid contract?

A

No: no mutual asset

under duress

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3
Q

Ben, who has been declared legally incompetent, orders 100 Napoleon Bonaparte costumes from Macy’s for Halloween. Is the agreement valid?

A

No: no legal capacity (Ben)

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4
Q

Allison promises to install new windows in Bernie’s house in exchange for Bernie’s promise to pay her $8,000. The execute a signed agreement that specifies when the work will be done and how Allison will be paid. Is this an express contract?

A

Yes

“signed contract…specifies…”

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5
Q

Frank verbally offers to mow Wendy’s lawn for $10/hour. Whendy verbally accepts Frank’s offer. Is this an express contract?

A

Yes: all necessary items there to prove a contract.

offer/accept.; consideration; mutal asset; legal capacity; legal purpose

one could argue no specified times weren’t “meeting of minds”

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6
Q

Lenore goes into Barbara’s bakery on a busy day and is in a hurry, so she grabsa a loaf of Italoin bread from the conter and waves it at Barbara. Barbara nods in Lenore’s direction and continues to serve other customers. Is a valid contract formed?

A

Yes: actions prove all elements there

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7
Q

bilateral or unilateral: Jan and Rick agree that she will purchase his guitar for $75

A

Bilateral

Both make an enforceable promise

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8
Q

Bilateral or unilateral: Perry tells Paula that he will pay her $250 if she will repair his deck next week

A

Unilateral

“if”

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9
Q

bilarteral or unilateral: Dominic tells Ray, “I’m tired of eating mediocre food every day. If you prepare one of your gourmet meals for me tomorrow, I’ll py you $100”. Ray doesn’t respond

A

Unilateral

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10
Q

bilateral or unilateral: Perry tells Peggy that he will tune up her car if she cleans out his garage

A

Unilateral

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11
Q

bilateral or unilateral: Marie and Jerry agree that she will update the web page for Jerry’s law practice in exchange for Jerry drafting her will

A

bilateral

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12
Q

Darm and Glenn agree that she will create a client database for Glenn’s business for a fee of $500. Bilateral or unilateral?

A

bilateral

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13
Q

bilateral or unilateral: Pamela tells Peter that she will pay him $100 if he installs a security light in her backyard over the weekend.

A

unilateral

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14
Q

bilateral or unilateral; express or implied: chris tells john “if you agree to provide me will all the firewood I need for next winter, I’ll agree to take care of your garden next spring and summer

A

express; unilateral

lacks some specificity but still is express

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15
Q

bilateral/unilateral and express/implied: jane agrees to tutor tom for 3 hrs/week at $20/hr. they put this in writing and both sign

A

bilateral, express

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16
Q

is there a contract…express or implied: joan goes to a flear market and sees a vase she likes. the owner is busy, but joan gets her attention and waves a $5 bill at her and points to the vase. the owner nods at joan, so joan takes the vase anf leaves the $5 on the counter, in clear view of the owner.

A

valid, implied

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17
Q

kathryn signs a lease agreement fo an apartment. she has intered into a(n): (express/implied) contract

A

express

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18
Q

flo tells giner during a phone call that she will buy her textbook from last semester for $65. ginger agrees. contract?…express/implied?

A

express

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19
Q

scott and tiffany enter into an implied contract. the parties’ conduct…

A

defines the contracts terms

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20
Q

Rachel tells Ron, “I am considering selling my house for $100,000” and ron says “i accept your offer”. valit or no?

A

no

“considering” doesn’t count as offering

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21
Q

stacy, who is angry that her motorcycle has broken down for the 3rd time in 60 days says “i will sell this piece of junk to the first person who gives me a nickel”. helen, who hears this, offers stacy a nickel for the motorcycle. valid?

A

no

reasonable person would think stacy was not serious

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22
Q

arthur tells his friend ray, “ill sell you my used tv set for $50”. before ray can reply, sandy says she accepts. is there a valid contract between sandy and arthur?

A

no

offer wasn’t made to sandy

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23
Q

sandy offers to sell her boat to bea but the boat sinks in a storm before bea accepts the offer. is the offer still valid

A

no

subject destroyed

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24
Q

sam agrees to paint debbies portait. bus sam is right handed and his right hand is crushed in an accident before debbie accepts the offer. is there still a valid offer?

A

no

sam can no longer perform offer

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25
Q

steve offers to sell barb his bike for $350. Barb can accept only by agreeing to buy under steves terms. if barbara says “ill take it for $325” is this a valid acceptance

A

no

counteroffer

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26
Q

bob offers to sell his comic book collection to biss for $500. bill says he will buy it but will only pay $475. bob now has the right to either (a) accept bills conteroffer in its terms (b) reject counteroffer or (c) make another counter offer. if bob rejects can he still accept original?

A

no

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27
Q

jim calls 10 friends offering to sell his piano for$500. the piano is valued at $5,000. he tells each to let him know within 1 week if they accept. the next day, 4 mail it, 3 others leave a voicemail, 1 texts jim, 1 leaves a message with his secretary; and 1 directly accepts vocally. result?

A

only 1 can sue to get the piano, 8 others are each entitled to money damages

1 did not accept to jim, the other 1 got the piano.

28
Q

effective or no: janie tells cole, who does not know how to perform comedy, that she will tutor him in the subject for $500

A

effective

29
Q

sharon agrees to pay steve if he paints her garage within the next 72 hrs. steve says nothing, but starts next morning. can sharon withdraw her offer?

A

no

job already started

if he dones not finish in time, she can pay (lower amount) what he has done

30
Q

jodi admires yukia’s collection of scarves. yukies says “i might sell you a few someday if i get tired of them”. effective or no?

A

no

no serious intent

31
Q

jay tells emily “i would like to sell you my collection” offer or no

A

no

invitation to negotiate

32
Q

amber asks blake “do you want to buy one of my rods”. valid or no

A

no

no intent to sell

33
Q

sabirna offers to sell corey her book but conditions the sale on corey accepting by march 1. sabrina may revoike this offer (when)

A

before corey accepts

34
Q

BPI offers to sell a warehouse to corp investments. Cportate says that it will pay BPI $100 to hold offer open for 3 business days. this…

A

makes the offer irrevocable for 3 days if accept

35
Q

fix it quick offers aimee a job as a plumber. no time for acceptance is specified. the offer will terminate (when)

A

after reasonable period of time

36
Q

trevor offer to sell brett his ipad for $500 without accessories. under the mirror image rule, bretts response will be considered an acceptance of the terms of the acceptance…

A

exactly mirror the offer

no change

no change items, price, etc.

37
Q

ICBI offers JRInc 50 bags of coffee. jrinc rejects. the offer is…

A

terminated

38
Q

cole offers to sell a certain used forklift to VLO, but cole dies before accept. most likely coles death (how did it affect offer)…

A

terminate offer

39
Q

aimee tells jay that she will pay him $50 to haul limbs from her property. when is jays acceptance complete?

A

only after he performs and hauls the limbs away

40
Q

jodi offers to make digital copes of PC’s conference videos, CD’s, and other media for $500. under the mailbox rule, PC’s accept by email will be considered effective when

A

sent

41
Q

crafton offers to design, make, and sell city transit 14 cars. crafton authorizes a particular mode of communication, but city sendds accept via a substituted means. this accept is effective when it is

A

received

42
Q

sally offers to sell bob her iphone for $50 and bob accepts. but sally owns an old iphone and a new. bob believes she intended to sell the new one and sally actually intended to sell the old one. valid?…

A

yes; but voidable

both parties made a mistake

43
Q

bob agrees to sell sally his tablet for $100 and sally accepts after briefly inspecting and believing it to be an apple mini. in fact, it is a generic android tablet works well but worth less. is there a valid contract?

A

yes

the fact she was wrong about her inspect doesn’t grant right to void

44
Q

jim agrees to sell dave his kindle fore ebook reader for $100 and dave accepts. unbeknownst to jim and dave, the reader was stolen from jims down before he offered. is there a valid contract?

A

no

no subject matter

45
Q

why is this contract not enforceable: sam tells ben if you dont sign i will punch you

A

duress

46
Q

simone offers to sell betty his used dvd recorder for $25. as an inducement, he tells her that it can be used to record tv shows without a cable box and that is has surround sound abilities. in fact it does have surround sound but can’t record without a cable box. what choices does betty have?

A
  1. accepting as is
  2. negotiation
  3. void contract
46
Q

tonya, a famous sports personality, is given a piece of paper by frank, a fan, who asks for her autograph and tonya signs. unbeknownst to tonya, the paper is a contract where tonya agrees to hire him as her manager. what is this an example of?

A

fraud

47
Q

Cole is an adult. He enters into a contract to sell sixteen-
year-old Janie his car for $3,000. The next day Cole receives
an offer of $4,000 for his car from twenty-year-old Brett.
Cole can/cant disaffirm

A

cant

janie is a minor

47
Q

Amber buys a car when she is seventeen. When she is
twenty-five, she tries to disaffirm the contract and recover
all her car payments. A court will likely find that the
contract was (ratified/not ratified)

A

ratified

47
Q

Jay, a minor, attempts to return to its former owner, a set of
skis that he recently bought, used, and wrecked, in a state
in which a duty of restitution is imposed. Jay

A

must return skis and pay for damage

48
Q

Corey, a minor, signs a contract to pay Natural
Health Club a monthly fee for twenty-four months
to use its facilities. Six months later, after
reaching the age of majority, Corey continues to
use the club. This act is

A

ratification

49
Q

Intoxicated, Yukia agrees to sell her restaurant,
Diners Café, to Brett for half of its real market
value. This deal is most likely void if

A

yukia appeared intoxicated to brett

50
Q

Adam tells Betty, “In consideration
for you having been the best friend
I’ve ever had over the past ten years,
I hereby promise to buy you a brand
new diamond bracelet for Christmas. enforceable?…

A

no

past consideration not enforce

51
Q

Carla tells Donald at his retirement party,
“In consideration for your 50 years of
service and your promise to stay on the
job for another three months before
retiring, we are pleased to award you a
stipend of $500 per month above your
normal pension benefit for the rest of your
life. enforce or no?

A

yes

additonal 3 months adequate

52
Q

Oliver offers to buy and install new
brake pads on Ellen’s car if she will
allow him to use the car next
weekend for a planned trip. If Ellen
accepts the offer, a valid contract is
formed
consideration for oliver? elen?

A

Oliver: buying and installing new break pads
ellen: giving up her car for the weekend

53
Q

Amber obtains a consumer loan from Finance Bank at an
interest rate that exceeds the state’s maximum. Finance
has

A

violated the usury laws

54
Q

SuperBumperCars, Inc. requires all customers to sign a
release that contains a clause that releases
SuperBumperCars from all liability in the event of an injury
occurring during a bumper car ride, no matter who is at
fault. This is an example of

A

an exculpatory clause

releases a party from any liability regardless of fault

55
Q

Jake and John make an illegal contract that unjustly enriches Jake at the expense of John. A court will

A

not be concerned with unust enrichment of jake

56
Q

Cross-Country Trucking Company contracts with Blake to
transport crated goods to a certain destination for $5,000.
Cross-Country delivers the crates, but Blake does not pay.
Cross-Country learns that the crates contained stolen
goods. Cross-Country can

A

recover $5,000 from blake

57
Q

Janie orally promises Trevor that she will buy his
fishing trawler for $10,000. Before either party
acts in reliance on this promise, under the
doctrine of promissory estoppel, the transaction is
enforceable by

A

neither

58
Q

Magic Math Corporation makes business accounting
software, which is packaged with a shrink-wrap agreement.
National Distribution Company distributes the software to
retailers, including an Office Stuff store, where Peg buys a
package of it. The parties to the shrink-wrap agreement are

A

magic math and peg only

59
Q

2 parties have consistently used payment terms of 2% net 10 for the past 5 years. if it is not specified in terms in a new contract will it still be enforceable

A

yes

course of dealing

60
Q

Rally Corporation enters into a contract to sell ski gear to
SnoSportz Company, which sells a pair of the skis to Tyra, a
consumer, who later sells them to Uli, another consumer.
Article 2 of the UCC applies to the sales transactions
between

A

rally and snosportz only

61
Q

Curtis enters into a contract with Drive-Away Lease
Company for a three-year lease of a car. This contract is
subject to

A

article 2a of the ucc

62
Q

Julia leases an apartment in Washington, D.C. for $2,200
per month. She buys a TV and a stereo system for $500.
When she needs to visit her aunt in Virginia, Julia leases a
car for the day for $65. Which of Julia’s transactions is/are
governed by Article 2A of the UCC?

A

the car lease only

63
Q

Finest Coffee Company agrees to buy an unspecified
quantity of coffee beans from Global AgriCorp. Global
breaches the contract. Finest can most likely

A

not enforce the agreement

64
Q

Timber Products, Inc., and Walt, a consumer, enter into a
contract for a sale of plywood. If the contract includes a
clause that is perceived as grossly unfair to Walt, its
enforcement may be challenged under the doctrine of

A

unconscionability

Bus. Law (4 decks)

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