BLAW Final Exam Review Ch. 10-18 Pleasant TTU Questions And Answers (Verified And Updated)

BLAW Final Exam Review Ch. 10-18 Pleasant TTU Questions And Answers (Verified And Updated) Jackie agrees to pay Ben $1,000 if Ben agrees to not go skydiving for six months. After Ben avoids skydiving for six months, he asks Jackie for payment. Jackie declines to pay Ben the $1,000. The contract between Jackie and Ben: - answerwill be enforced because Ben exercised forbearance which is legally sufficient consideration. Michael agrees to buy Randy's wheelbarrow for $100. After the agreement is reached but before performance begins, both Michael and Randy agree to terminate the contract. The effect of agreement to terminate is that: - answertheir contract is cancelled due to rescission. Kenneth's parents own a cattle ranch. When they become too elderly to run the ranch by themselves, Kenneth moves back to the ranch to help them. With his parents' help and permission Kenneth builds a house on the ranch. After he builds it, his parents refuse to deed him the land. Kenneth can sue his parents under the doctrine of: - answerpromissory estoppel Carol Rogers, a local millionaire, promises to donate $500,000 to the Springfield Humane Society, which the society plans to use to build a new animal hospital. Based on Carol's promise, the society begins work on the hospital. Carol then backs out of her offer. - answerCarol can be sued for the money under a theory of promissory estoppel. Liz agrees to cook twenty dinners for Brian, in exchange for which Brian will repair all of the plumbing in Liz's house. Liz has offered legally: - answersufficient consideration, because Liz has promised something of value. Lila tells her friend, Joanne, that she will give her $10,000 toward the purchase of a new car. Lila later changes her mind, and Joanne tells her that she will sue to enforce the contract. A court would likely find that this agreement is: - answerunenforceable because there is no bargained-for exchange. Shane is the manager of Twinkle Toy Store. Kate is his best employee. Shane tells Kate, "You've been doing a great job lately. If I like what you do over the next two months, I'll give you a $1,000 bonus." This is: - answeran illusory promise Les agrees to install a new hard drive and modem in Marilee's computer in exchange for four of her used textbooks. After he installs the hard drive, Les says he won't install the modem unless Marilee gives him two more books. What legal position are the parties in now? - answerMarilee can sue for breach of contract, because Les had a preexisting duty to do all of the work. Tom agrees to hire Dave for a salary $3,000 a month as a consultant. Tom reserves the right to cancel the contract at any time. Before Dave begins his consultant job, Tom cancels the contract with Dave and hires Stanley. Tom can: - answercancel the contract because the contract is illusory. An inmate escapes from the county prison. There is a $500 reward offered for any information leading to the capture of the inmate. The county sheriff sees the inmate at a local restaurant and calls the department headquarters before arresting the inmate. The sheriff: - answercannot expect to collect the $500 because he had a preexisting duty to arrest the inmate. Madeline signs a contract agreeing to sell Norman her brand-new Porsche 911 automobile for $50. It is possible that a court will: - answerlook more closely at the bargain to determine whether fraud, duress, or undue influence was involved. Morgan signs an installment loan contract with her banker. The contract specifies that Morgan will pay 3.00% interest every month on the borrowed amount of $50,000 for two years. Both Morgan and the banker know the precise amount of the total obligation. This is an example of: - answerliquidated debt. Julia promises to give Mary a piece of original artwork worth $5,000 in return for Mary's stamp collection, which is worth $500. After the exchange, Julia decides that she does not think the bargain was fair and demands that Mary give her back the painting. A court will most likely: - answernot interfere with the contract, because the consideration is legally sufficient. Francisco is driving his car when he collides with Wyatt's car. Francisco writes Wyatt a letter in which he offers to pay Wyatt $5,000 if Wyatt will agree to forfeit all of his rights to pursue a lawsuit against Francisco for this accident. If Wyatt agrees and signs the letter, they will have a: - answerrelease Jane agrees to cook twenty dinners for Ryan, and in exchange, Ryan will repair all the plumbing in Jane's house. Jane has offered legally: - answersufficient consideration, because Jane has promised something of value. T or F: Courts generally presume the existence of contractual capacity. - answerTrue Disaffirmance - answerThe legal avoidance, or setting aside of contractual obligations. Age of Majority - answerThe age at which an individual is considered legally capable of conducting himself or herself responsibly. Emancipation - answerIn regard to minors, the act of being freed from parental control; occurs when a child's parent or legal guardian relinquishes the legal right to exercise control over the child.