EXAM 2: LSB 3213|50 Questions with Solutions 100% Verified
3 views 0 purchase
Course
LSB 3213
Institution
LSB 3213
EXAM 2: LSB 3213|50 Questions with Solutions 100%
Verified
Retail Outlets, Inc., contracts with Smooth Paving Inc. to grade and pave a parking lot. Smooth
assigns the contract to Tough Road Company, which has a poor record of completing projects.
Retail could most successfully argue that th...
EXAM 2: LSB 3213|50 Questions with Solutions 100%
Verified
Retail Outlets, Inc., contracts with Smooth Paving Inc. to grade and pave a parking lot. Smooth
assigns the contract to Tough Road Company, which has a poor record of completing projects.
Retail could most successfully argue that the contract cannot be assigned because Correct
Answer-the assignment will materially increase the risk of nonperformance.
In an exchange of e-mails, Rob, a landlord, and Sam agree to a lease of a certain apartment
for one year. Under the Statute of Frauds, this lease is enforceable provided Correct
Answer-the e-mail is signed by the party against whom enforcement is sought.
Idina admires Jules's collection of guitars. July says, "I plan to sell the collection when I get
tired of it." Jules's statement is Correct Answer-not an offer because July expressed only
an intent to enter into a future contract.
On May 1 Ralph offers to cure and smoke Sam's pork. On May 3 Ralph mails Sam a letter
revoking the offer. Sam receives the letter on May 5 and responds on May 6. Ralph's
revocation of the offer Correct Answer-became effective on May 5.
Mona is induced by her guardian Newt to sign a contract to invest her student loan funds in
OptiBank through Newt's investment firm. Unknown to Mona, Newt realizes a commission
, EXAM 2: LSB 3213|50 Questions with Solutions 100%
Verified
from the investment. Most likely, Mona may rescind the contract on the basis of Correct
Answer-undue influence.
Wally offers to repair and service a forklift for Valu Lumber Outlet, but Wally dies before Valu
accepts. Most likely, Wally's death Correct Answer-terminates the offer.
Ready Repair Service enters into a contract to fix washers and dryers in Scrub n' Dry
Company's coin-operated laundries. If Ready Repair breaches by only partially performing the
contract, Scrub n' Dry can Correct Answer-sue Ready Repair for compensatory and
consequential damages.
A valid contract requires Correct Answer-an offer and an acceptance
Flora enters into a contract with Global Shipping, Ltd., to insure and ship a painting from
France to the United States for a certain price. Global makes a mistake in adding the costs,
which results in a contract price that is $1,000 less than the true cost. Most likely, a court
would Correct Answer-allow the parties to rescind the contract.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KarmaScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
