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BUL 3310 Exam 2 Questions And All Verified Complete Solutions.
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British Textile Manufacturer entered into a contract with Cotton Broker for 2,000 bales of cotton to be shipped from India to England on the ship "Peerless, sailing from Bombay." The contract was silent about the shipping date. Buyer expected the cotton to be shipped on the Peerless that sailed fro...

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  • September 26, 2024
  • 76
  • 2024/2025
  • Exam (elaborations)
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BUL 3310 Exam 2 Questions And All
Verified Complete Solutions.
British Textile Manufacturer entered into a contract with Cotton Broker for 2,000 bales of cotton to be
shipped from India to England on the ship "Peerless, sailing from Bombay." The contract was silent about
the shipping date. Buyer expected the cotton to be shipped on the Peerless that sailed from Bombay in
October; seller expected to ship the cotton on the Peerless that sailed from Bombay in December. By the
time the second ship arrived in England, buyer had found another supplier and refused to accept the
cotton. Does manufacturer have any defenses to the breach of contract suit brought by Broker?



Yes, there was a unilateral mistake of material fact

Yes, there was a bilateral mistake of material fact

Yes, there was economic duress

No, the buyer should have double checked the shipping date. - Answer Yes, there was a bilateral
mistake of material fact



Acme, a Dover, Delaware company, is to send widgets to a customer in Elmira, New York, under a
destination contract. The contract will read



F.O.B.Dover, Delaware



F.O.B.Elmira, New York



F.A.S.Dover, Delaware



F.A.S.Elmira, New York - Answer F.O.B.Elmira, New York



An illusory promise is consideration for a unilateral contract, but not for a bilateral contract.

T/F - Answer F

,Giving up the right to do something that one is legally entitled to do can serve as consideration in a
contract.

T/F - Answer T



An offeree is... - Answer The person to whom the offer to form a unilateral or bilateral contract is
made.



Plaintiff's duty to take steps to lessen the damages that result from a defendant's breach of contract is
the duty to



Mitigate

Subrogate

Abrogate

Ameliorate - Answer Mitigate



Which of the following is an illusory promise?



"I will buy tickets to the World Series if the Red Sox win the Pennant."



"I will go with you to the donkey basketball game if I can't think of anything better to do."



"I will drive you to work if your car is still in the repair shop."



"I will buy your car if my husband likes it." - Answer "I will go with you to the donkey basketball game if
I can't think of anything better to do."



Another term for special damages is _______________ damages.



Nominal

Mitigated

,Consequential

Compensatory - Answer Consequential



Typically in construction contracts there will be a provision awarding damages to the buyer at "X"
amount of dollars per day for each day the builder is late in completing the work. The parties to the
contract agree upon this amount in advance because they know the buyer will incur added costs, or will
lose profits, because of the delay. If the amount fixed for the damages is unreasonably high, the court
will consider it a ________________and will not enforce it.



A. Tort

B. Crime

C. Penalty

D. Act of extortion - Answer penalty



Which of the following statements is true about modifying contracts governed by the Code?



-No new consideration is required to modify an existing contract.

-Modifications must be made in good faith

-Parties may agree that all modifications to an existing contract must be in writing.

-All of the above are true statements. - Answer All of the above are true statements.



Under the common law, modifications to existing contracts required new consideration from each party.

True

False - Answer T



In contributory fault states, if the plaintiff was responsible for 20 percent of his own injuries, he will still
be able to collect the other 80 percent from the negligent defendant

T/F - Answer F



A tort can be a wrongful act against a person, a person's property, or both.

, T/F - Answer T



All of the following are economic losses except: - Answer Losses from pain and suffering



The doctrine under which employers are liable for torts committed by employees while they are acting
within the scope of their employment is ___



a. Joint and several liability

b. Respondeat superior

c. Negligence per se

d. Res ipsa loquitur. - Answer Respondeat superior



Al, Bill, Chad, and Dan were found jointly and severally liable for 100,000 of property damages caused
when a fraternity got out of hand. Al, Bill, and Chad do not have the money to pay for their share of the
damages. The only solvent defendant is Dan. The most that Dan will have to pay is - Answer 100,000



In Joint and several liability one party is potentially liable to pay the entire amount of the judgement

T/F - Answer T



In most states, children under the age of ___ cannot be held liable for negligence - Answer 7



There are no defenses available to a defendant manufacturer in market share liability cases

T/F - Answer F



An action for mental distress normally requires the plaintiff to exhibit some physical symptoms of
emotional suffering

T/F - Answer T



To be liable for trespass to land a person must know that the property belongs to another

T/F - Answer F

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