BLAW Final Exam Review Ch. 10-18 Pleasant TTU Questions And Answers (Verified And Updated)
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Course
Blaw 3391
Institution
Blaw 3391
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 be...
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:
will 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:
their 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:
promissory 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.
Carol 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:
sufficient 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:
unenforceable 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:
an 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?
Marilee 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:
cancel 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:
cannot 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:
look 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:
liquidated 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:
not 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:
release
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:
sufficient consideration, because Jane has promised something of value.
T or F: Courts generally presume the existence of contractual capacity.
True
Disaffirmance
The legal avoidance, or setting aside of contractual obligations.
Age of Majority
The age at which an individual is considered legally capable of conducting himself or herself
responsibly.
Emancipation
In 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.
T or F: When a minor who has entered into a contract opts to avoid that contract, she or he can
choose the particular portions of the contract to disaffirm.
, False
Espinoza is sixteen, but looks much older. She purchases a diamond bracelet, but decides nine months
later that it was unwise to spend the money, so she:
can return the bracelet and get all of her money back
T or F: Adults who enter into contracts with minors can avoid their contractual duties just as the
minor can.
False
.Courts in a growing number of states place additional duties on the minor when the minor disaffirms.
These duties include:
1. The minor is responsible for ordinary wear and tear for the returned property.
2. The minor is responsible for damages to the property returned.
3. The minor is responsible for the depreciation of that returned property.
Hineki buys an expensive tablet device to celebrate his seventeenth birthday. Two weeks later, his
father insists that he return it. Hineki's attempt to return the tablet will:
be successful, because he acted within a reasonable time
Exceptions to Basic Rules of Disaffirmance:
1. Misrepresentation of age (or fraud).
2. Necessaries.
3. Ratification
Misrepresentation of age, or fraud. (Exception to Basic Rules of Disaffirmance)
In many jurisdictions, misrepresentation of age prohibits the right of dissafirmance.
Necessaries (Exception to Basic Rules of Disaffirmance)
Minors remain liable for the reasonable value of necessaries. (goods and services.)
Ratification (Exception to Basic Rules of Disaffirmance)
After reaching the age of majority, a person can ratify a contract that he or she formed as a minor,
thereby becoming fully liable for it.
Generally, when minors act on their own, their parents are.......
.....not liable for contracts made by their minor children.
Contracts by Intoxicated Persons:
- General Rules.
- Disaffirmance.
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