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Review Test Submission: Final Exam
Time Elapsed 1 hour, 39 minutes out of 2 hours
Instructions
Time limit: 2 hours
42 multiple-choice and essay questions
Open-book/open-notes
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Question 1 5 out of 5 points
Renée lost her job last year and has been unable to nd employment since then. She
has been living in her car for the past two months, but knows that with winter
approaching, she needs to nd a place to live. Unfortunately, the odd jobs she’s found
only keep her employed for about 10 to 20 hours each week, and she is not sure she
makes enough to rent even a small apartment. She meets with a property manager
about renting a room in an older house that the manager manages. The manager
agrees to rent the room to Renée for $200 each month, but only if Renée will sign a
lease agreement that includes a densely worded “future wage assignment” provision
in small print, which provides that Renée will pay 10% of any future wages she earns
to the property management company for the next 5 years. No other a ordable
housing options are available to Renée. She signs the lease. The next year, Renee
… 1/13
, 10/16/2020 Review Test Submission: Final Exam – 202040 Fall
obtains a job working as lab technician in a hospital earning $35,000. What’s Renee’s
best argument that the future wage assignment is unenforceable, and why?
Selected
Answer: The agreement is unconscionable because Renée has so little
bargaining power and the terms are unfair.
Question 2 5 out of 5 points
Employer contracts with Employee to serve as the Chief Operating O cer to the
Employer. The term of the contract is one year. The annual salary is $75,000. Before
the employment begins, Employee quits. Employer pays a recruiter $3,250 to nd a
replacement employee. The recruiter nds a comparably quali ed replacement
employee who is willing to serve as Chief Operating O cer for an annual salary of
$80,000. Choose the best answer:
Selected Answer: Employer is entitled to damages of $8,250.
Question 3 0 out of 5 points
Anderson contracts with Mallows for Anderson to paint Mallows’ two-story house. The
price is $2,500, payable to Anderson once the painting is completed. Prior to the
contract, Anderson meets with Mallows, looks at the house, and discusses the kind of
paint that Anderson will use and the timing of the completion of the work. Anderson
starts painting the house on Monday morning. Monday afternoon, after Anderson
has painted only one side of the house, Anderson tells Mallows that he will require an
additional $500 to nish the job. In response, Mallows promises to pay Anderson
$3,000 upon completion of the house. Choose the best answer:
Selected
Answer: The contract is enforceable because Anderson relied upon Mallows’
promise to pay an additional $500.
Question 4 5 out of 5 points
Ramsey and Steven are discussing the sale of Ramsey’s used bulldozer to Steven.
Ramsey tells Steven that he will sell the bulldozer for $85,000. Steven responds by
saying: “$85,000 is a lot of money; I will pay you $75,000 for it but that is all.” Choose
the best answer:
Selected
Answer: Steven’s statement constitutes a rejection and is also a
countero er.
Question 5 5 out of 5 points
https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_92390134_1&course_id=_645463_1&content_id=_41880689_1&return… 2/13
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