A) A contract not supported by consideration
B) A unilateral contract
C) An implied contract
D) A bilateral contract
E) An invalid contract
G) C) and D)
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A) Diego must return only the communications book.
B) Diego must return only the computer.
C) Diego does not legally have to return anything.
D) Diego must return the computer,the business law book,and the communications book.
E) Diego must return only the business law book.
G) A) and E)
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A) That the debt became illusory based on the promise made by Credit Card Company A.
B) That because of unforeseen circumstances,she should be able to avoid the debt.
C) That she reasonably relied to her detriment and that she should be able to enforce the company's promise under a theory of promissory estoppel.
D) That her promise did indeed constitute consideration because of the theory of moral consideration,and Credit Card Company A clearly expressed its concern with student debt.
E) That her promise did indeed constitute consideration because it allowed Credit Card Company A to report forgiveness of debt rather than default on its financial reports.
G) All of the above
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A) Only a bilateral contract requires consideration.
B) Only a unilateral contract requires consideration.
C) The adequacy of consideration.
D) The type of consideration.
E) The existence of promissory estoppel in bilateral contracts only.
G) C) and E)
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B) False
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B) False
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The performance of a duty one ...View Answer
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A) Ezra is correct because cleaning house would not constitute a benefit to the promisor.
B) Ezra is correct because cleaning house would not constitute a detriment to the promisee.
C) Ezra is incorrect because house cleaning can constitute consideration that would support a contract,and the court would not likely be concerned with the fact that the cleaning duties would be light.
D) Although,contrary to Ezra's assertion,house cleaning can be consideration,it was not in this case,as his apartment was already fairly clean.
E) Ezra is correct because Irina had only promised,but had not actually performed.
G) A) and E)
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A) No,because the $50 payment accounted for less than 10 percent of the balance due.
B) No,because the bank offered to repay the money in a timely manner.
C) Yes,because Raphael did not accept the bank's offer for repayment.
D) Yes,because the bank cashed the check and this is sufficient for accord and satisfaction.
E) Yes,because the bank has to offer a refund to Raphael within one week to avoid accord and satisfaction.
G) A) and C)
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A) The bank will win because under federal law,once correct negative information is reported regarding a customer,it can be removed only if it is found to be untruthful.
B) Gabrielle will win because the bank's cashing the check constituted acceptance of her offer,and a valid contract existed.
C) The bank will win because under state law,once correct negative information is reported regarding a customer,it can be removed only if it is found to be untruthful.
D) Gabrielle will win because the bank had an obligation to notify her that it was not accepting her offer before cashing the check.
E) The bank will win because under the preexisting duty rule,Gabrielle was already legally obligated to make the payment,and there was no consideration to support the contract.
G) A) and E)
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E
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A) A bilateral contract
B) An implied contract
C) A contract created through promissory estoppel
D) A unilateral contract
E) An invalid contract
G) None of the above
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A
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B) False
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A) The mutual exchange of promises.
B) The exchange of adequate consideration.
C) Intent of both parties to enter into a legally binding agreement
D) The existence of consideration.
E) Reasonable reliance on a promise to your detriment.
G) A) and D)
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A) If a business inadvertently cashes such a check,the business has 90 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
B) If a business inadvertently cashes such a check,the business has 120 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
C) The business has no recourse,and the debt is deemed discharged and satisfied.
D) If a business inadvertently cashes such a check,the business has 30 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
E) If a business inadvertently cashes such a check,the business has 60 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
G) All of the above
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A
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A) Satisfaction
B) Accord
C) Seal
D) Written acknowledgement
E) Written compromise
G) B) and C)
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A) Promissory estoppel
B) Promissory agreement
C) Promissory performance
D) Quasi estoppel
E) Quasi agreement
G) None of the above
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A) A promise to stay in a job until a particular project is complete.
B) A promise to your football coach to refrain from riding your motorcycle during football season,even though you love riding it.
C) A promise to stop staying out late at night during exam week.
D) A promise to buy skis for $300 if you like them.
E) A promise to cook dinner for your roommate for the next six months.
G) A) and B)
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A) A liquidated debt is involved,and there is an accord but no satisfaction.
B) A liquidated debt is involved,and there is not a satisfaction or an accord.
C) An unliquidated debt is involved,and there is an accord but not satisfaction.
D) An unliquidated debt is involved,and there is an accord and satisfaction.
E) A liquidated debt is involved,and there is an accord and satisfaction.
G) C) and D)
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B) False
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A) When a sale of goods is involved
B) Always
C) When an illusory promise is made
D) When enforcement is necessary to avoid injustice
E) Never
G) C) and E)
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