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LSU BLAW 3201 FRY FINAL EXAM QUESTIONS AND ANSWERS 100% SOLVED £9.62
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LSU BLAW 3201 FRY FINAL EXAM QUESTIONS AND ANSWERS 100% SOLVED
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LSU BLAW 3201 FRY FINAL EXAM QUESTIONS AND ANSWERS 100% SOLVED A contract contains the provision, "Walter Hamilton promises to pay Faye Weeks $1,200 for a 2003 V-6 motor provided that Phelps' Garage approves the quality of the motor." This provision: a. makes the contract unenforceable since ...

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  • December 24, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • blaw
  • lsu blaw 3201

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  • Business law
  • Business law

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LSU BLAW 3201 FRY FINAL EXAM

QUESTIONS AND ANSWERS 100%

SOLVED


A contract contains the provision, "Walter Hamilton promises to pay Faye

Weeks $1,200 for a 2003 V-6 motor provided that Phelps' Garage

approves the quality of the motor." This provision:

a. makes the contract unenforceable since Walter's promise is illusory.

b. creates an express condition which must be met before Walter's duty to

pay arises.

c. cannot create an express condition because it lacks the necessary words

"on condition that."

d. cannot be valid since it makes Walter's duty to pay dependent upon the

opinion of a third party. - ✔✔creates an express condition which must be

met before Walter's duty to pay arises.

William has a contract to build a new office building for Angela. The

contract contains a provision requiring William to furnish a certificate of



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,occupancy from the building inspector before Angela is required to pay.

This provision is:

a. an express condition.

b. an implied-in-fact condition.

c. an implied-in-law condition.

d. a condition subsequent. - ✔✔an express condition.

Which of the following is a contract with a condition subsequent?

a. Rhonda enters into a contract to buy a new car conditional upon her

getting a loan from her bank.

b. Roger bought a VCR, but he may return the VCR within ten days and get

all of his money back.

c. Both (a) and (b) are examples of a condition subsequent.

d. Neither (a) nor (b) is an example of a condition subsequent. - ✔✔Roger

bought a VCR, but he may return the VCR within ten days and get all of his

money back.

A(n) ____ is a substituted contract that involves an agreement among three

parties to substitute a new promisee in place of an existing promisee, or to

replace an existing promisor with a new one. - ✔✔novation




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,A(n) ____ is a contract between a promisee and a promisor by which the

promisee agrees to accept and the promisor agrees to render a substituted

performance in satisfaction of an existing contractual duty. - ✔✔accord

Which of the following is/are correct with regard to conditions subsequent?

a. Conditions subsequent are quite common in contracts.

b. A "sale or return" contract is an example of a contract with a condition

subsequent.

c. A condition subsequent must occur before performance is due under a

contract.

d. All of the above are correct. - ✔✔A "sale or return" contract is an

example of a contract with a condition subsequent.

Bill recently borrowed $50 from Ricardo for a couple of weeks. Bill, still

short of cash, tells Ricardo, "I will wash and wax your car in exchange for

the $50 I owe you." Ricardo tells Bill, "OK, that's great!" Ricardo's

performance of his new duty will be a(n): - ✔✔satisfaction.

On November 1, Paula and Roberta enter into a contract where both

parties are obligated to perform on December 31. On December 1, Paula

tells Roberta, "I can, in no way, perform my duties in our contract." This

statement is a(n): - ✔✔anticipatory repudiation.



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, A and B enter into a contract on January 1 of this year. A's friend C tells A,

"The law generally restricts the time within which an action can be brought

by either party to a contract." C's statement is: - ✔✔true, because of

statutes of limitation.

The Code greatly alters the common law doctrine of material breach by

adopting what is known as the:

a. perfect tender rule.

b. anticipatory repudiation rule.

c. prevention of performance rule.

d. discharge by operation of rule law. - ✔✔perfect tender rule.

Unless one of the parties contractually assumes the risk, the ____

discharges a contract if supervening circumstances make fulfillment of the

purpose which both parties had in mind impossible. - ✔✔frustration of

purpose doctrine

Meg has contracted to paint a portrait of Julio, but dies before completing

the portrait. Which of the following is correct?

a. Meg's executor must find a capable artist to complete the work to Julio's

satisfaction.

b. Meg's contractual duty is discharged due to objective impossibility.



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