BUSN 420 WEEK 4 QUIZ
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BUSN 420 WEEK 4 QUIZ
1. (TCO 4) Mikayla enters into a contract with Logan to provide
surface material for Mikayla’s tennis courts by April 1 for a tournament to
begin May 1. The contract specifies an amount to be paid if the contract is
breached. This is a liquidated damages clause if the amount is
2. (TCO 4) Karson orally agrees to pay Jaime to plant and
harvest a quarter of Karson’s farm acreage for four corn-planting seasons.
After Jaime prepares the land and plants the first crop, Karson says that their
deal is off. Jaime can most likely recover
3. (TCO 4) Reel Graphics, Inc. agrees to assume a debt of Suave
Marketing Company to Town Credit Union. This promise is for Reel’s benefit. To
be enforceable, the promise
4. (TCO 4) Lark enters into a contract to mine gravel in
Milena’s quarry, sell it, and share the profits on its sale with Milena. If the
duties under this contract are discharged like those under most contracts, the
duties will be _____.
5. (TCO 4) Pure Oil Company enters into a contract with
QuikBilt, Inc., to construct an oil pipeline to withstand specific conditions.
If QuikBilt fails to meet this standard, which is construed as a breach of
contract and a breach of a duty of care, Pure might be awarded punitive damages
to
6. (TCO 4) Lou and Mira want to rescind their contract under
which Lou sold an MP3 player to Mira for $50. To rescind the contract
7. (TCO 4) Pablo and Melia enter into an oral contract for
Pablo’s sale to Melia of a laptop computer for $400. Assuming the terms can be
proved, the contract is enforceable by
8. (TCO 4) Timber, Inc., and Wood Corporation enter into an oral
contract for the sale of a lumber mill and the land on which it is situated
from Timber to Wood. Under the Statute of Frauds, this contract is enforceable
by
9. (TCO 4) Pete, the owner of Quality Orchards, contracts to
sell fruit to Ripe Produce, Inc. When Pete refuses to perform, Ripe Produce
files a suit to enforce the contract. To defend successfully on the ground of
unconscionability, Pete must show that enforcement of the contract would be
10. (TCO 4) Sid induces Ty to enter into a contract for the sale
of a warehouse about which Sid fraudulently misrepresents a number of material
facts. Sid also tells Ty that his commission is 6 percent, but their signed,
written contract states “12 percent.” The parol evidence rule governs
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