LAWS 310 WEEK 6 QUIZ

 1.	Question :	(TCO 6) What are the three major sources of contract law, and how do they affect contract law?

 	
 	
Question 2.	Question :	(TCO 7) Define emancipation, and list a few possible reasons for its occurrence. 

 	


Question 3.	Question :	(TCO 7) A person enters into a contract with another by writing the terms of the contract on a notepad. Is this a valid contract? Does the law accept writing on the notepad as a proof of that contract? 

 	

Question 4.	Question :	(TCO 7) Laurie owes $10,000 to Kim. Kim sells her right to collect the money to Josh for $7,500, and after a few weeks to Sam for $7,500. Sam provides Laurie with a notice of assignment, but Josh doesn't. Which assignee would have the legal rights to collect the money? Provide arguments supporting each assignee.

 	


Question 5.	Question :	(TCO 7) The parties negotiated the sale of 100 black folding. The seller shipped the chairs to the buyer in cartons of 10 chairs each. After the cartons arrived, the buyer put them in a storage facility for later use but did not open up the cartons or examine the contents. A month later he needed 10 chairs for meeting and he retrieved one carton and removed the 10 black folding chairs. He subsequently used an additional 50 chairs, all of which were black. Six months later he opened the remaining four cartons and discovered that the folding chairs were a dark blue. He sued the seller for breach of contract. What are the possible remedies?

 	
 


 	

Question 6.	Question :	(TCO 6) Explain, in brief, express terms and their significance.

 	


Question 7.	Question :	(TCO 6) What are the elements of promissory estoppel? Provide an example to illustrate them.

 	



Question 8.	Question :	(TCO 7) Discuss the consequences of the failure to provide a notice of assignment on the assignee, and provide  an example.

 	
Question 9.	Question :	(TCO 7) Taylor threatens Robin with physical harm if he fails to sign a real estate deal. Robin is not interested in the deal as the property in question is a damaged property, however, he signs the contract in the fear of an attack. Is this contract enforceable against Robin? Discuss the reasons.


 	
Question 10.	Question :	(TCO 7) Analyze the elements of fraud.

 	

Question 11.	Question :	(TCO 7) Discuss circumstances under which a breaching party is not liable to pay consequential damages to a nonbreaching party?

 	


Question 12.	Question :	(TCO 7) Brooksold Corporation contracts to have Zealent Construction Company build a factory for $4,000,000. Days before the start of construction, Zealent withdraws from the contract. Brooksold invites proposals for the construction and contracts with Sierra Nos Builders for $3,800,000. Can Brooksold hold Zealent liable for nonperformance? What can the company recover as compensation for damages?

 	



Question 13.	Question :	(TCO 6) What is a noncompete clause? When is it considered to be lawful?