Grade Details - All Questions
Question 1. Question : Seller agrees to supply all the gasoline Buyer needs for the next year at $3.00 per gallon. After three months, the price of gas falls to $2.33 per gallon. Buyer refuses to keep buying from Seller unless Seller lowers the price. Seller agrees. Two months later, the average price for gas goes up to $3.50 per gallon. Seller asks Buyer to agree to a price raise, but Buyer refuses. Which of the following is true?
Points Received: 1 of 1
Comments:
Question 2. Question : Peter offers to sell Maxine his car for $5,000, stating, “I need to know by Friday, and you should email me your answer.†Maxine calls Peter on Thursday and leaves a voicemail telling him she wants the car. Peter listens to the voicemail on Thursday night. Which statement best describes the situation?
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Question 3. Question : Under the UCC, a court is most likely to find a contract is unconscionable and should be voided if
Instructor Explanation: @Feedback: The answer can be found in Section 7.1 Offer and Acceptance of the Sales Contract: Unconscionable Contracts, of the text.
Points Received: 0 of 1
Comments:
Question 4. Question : After mowing his own lawn, David goes next door and mows his neighbor Lena- lawn as a nice gesture. As he is finishing up, Lena arrives home. Happy to find a newly mown lawn, Lena says, “That- so nice of you! When I get paid Friday, I’ll give you $20.†David says, “I accept!†Which best describes the situation?
Points Received: 1 of 1
Comments:
Question 5. Question : Alison contracts to sell “50 bushels of tomatoes grown in my garden†to Flora- Café. Alison- garden is wiped out by a hailstorm. The contract is
Points Received: 1 of 1
Comments:
Question 6. Question : By letter, Martine offers to landscape Harry- yard for $500. Harry thinks that is too much, and on Monday he mails a rejection. However, on Tuesday Harry realizes Martine was giving him a good deal, so he mails an acceptance. Martine however changed her mind about the job on Wednesday, and mailed a revocation, which Harry receives on Thursday. On Friday, Martine receives Harry- acceptance. On Saturday, she receives his rejection. Which best describes the situation?
Points Received: 1 of 1
Comments:
Question 7. Question : Royal Hotel Inc. verbally orders 100 sets of sheets and pillowcases, each to be embroidered with the chain- coronet logo, for $1,000, from Textile Inc. Textile starts on the order and has completed 45 sets when Royal calls back and cancels the order. Which of the following is true?
Points Received: 1 of 1
Comments:
Question 8. Question : Petra contracted to paint Bret- house for $2,000. After beginning the job, Petra realizes that the house is really quite big, and she- not going to make enough profit, so she tells Bret she wants another $500 to finish the job. Bret doesn’t want to pay more, but he- afraid that if she walks off the job, he’ll have trouble finding someone else to finish it, so he agrees. Is Bret legally obligated to pay the extra $500?
Points Received: 1 of 1
Comments:
Question 9. Question : Quasi contracts
Points Received: 0 of 1
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Question 10. Question : Ashley sees a maintenance crew from Acme Co. beginning to resurface her driveway, a service she has not contracted for. Ashley thinks a new driveway would be good, so she doesn’t say anything. If Acme sues Ashley for the value of the resurfacing,
Points Received: 0 of 1
Comments:
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