EXAM 2: LSB 3213|50 Questions with Solutions 100% Verified
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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.
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