Week 3 Quiz-Bases For Enforcing Promises

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Quiz: Bases for Enforcing Promises Due Sep 11 at 11:59pm Points 110 Questions 22 Time Limit 150 Minutes Instructions The quiz: Covers the Learn material from Module 3: Week 3. Contains 22 multiple-choice, true/false, and essay questions. Is limited to 60 minutes. Allows 1 attempt. Is worth 110 points. Submit this assignment by 11:59 p.m. (ET) on Monday of Module 3: Week 3. Attempt History Attempt Time Score LATEST Attempt 1 Correct answers are hidden. Score for this quiz: 105 out of 110 Question 1 5 / 5 pts In which case did the court treat reliance as an exception to the definiteness requirement, rather than as an exception to the consideration requirement? Alaska Packers’ Assn. v. Domenico Hamer v. Sidway Mills v. Wyman Hoffman v. Red Owl Stores Question 2 5 / 5 pts Allen promises Betty that he will pay her $2,000 if Betty will paint a portrait of Allen's mother and give the portrait to Allen's mother on her birthday. Betty paints the portrait and gives it to Allen's mother on her birthday, as promised. Allen refuses to pay Betty anything. Allen argues that he is not contractually obligated to pay Betty because he did not receive any benefit from Betty. Choose the best answer. Allen is correct. No consideration was exchanged between Betty and Allen, so no contract was formed between them. Allen is correct. A party only has to keep a promise if they receive a direct benefit from the return promise. Allen is incorrect because there there is consideration between Allen and Betty and a contract was formed. Allen is correct because all promises to provide services are enforceable under law. Question 3 5 / 5 pts

Coffeeshop, Inc., is looking for a new location. It agrees to buy a small house from Gary for $280,000 if its bank will approve Coffeeshop, Inc.’s request for financing to purchase and renovate the house. The contract between Coffeeshop, Inc. and Gary is: Unenforceable, because Coffeeshop, Inc.’s duty to buy is conditioned on the actions of the bank. Enforceable because Coffeeshop, Inc. has made a promise, and all promises are adequate to constitute consideration. Unenforceable, because Coffeeshop, Inc. has no control over whether the bank approves the financing. Enforceable, because Coffeeshop, Inc. has made an enforceable conditional promise. Question 4 5 / 5 pts Seller and Buyer enter into a contract for Seller to sell 2,025 computers to Buyer. Buyer agrees to pay Seller $190,400 for the 2,025 computers. After the contract is signed by the parties, Buyer asks Seller if it would be willing to provide 2,100 computers, instead of 2,025, at no additional cost. Seller agrees to deliver 2,100 computers. Choose the best answer: Seller's promise to provide 2,100 computers is unenforceable, because no new consideration was provided. Seller's promise to provide 2,100 computers is enforceable, because Seller received something in exchange for its promise to deliver additional computers. Seller's promise to provide 2,100 computers is enforceable, because no consideration is required to make the modification enforceable. Seller's promise to provide 2,100 computers is unenforceable, because Seller had a preexisting duty to provide 2,025 computers. Question 5 5 / 5 pts Which statement does not accurately describe the nature of a party's "reliance interest?" Reliance interest is the amount of damages that places the promisee in as good a position as if the contract had never been made. Reliance interest is the amount of damages that places the promisee in as good a position as if the contract had been fully performed. Reliance interest is the amount of damages that is necessary to punish a breaching party and ensure they never breach another contract. Both b and c. Question 6 5 / 5 pts Issac contracts with Lars for Lars to market Issac’s new line of athletic clothing. Issac agrees to pay Lars 2% of any sales he generates. After three months, Issac is concerned that Lars is generating very few sales. Issac learns that Lars is facing competition from several new companies, all marketing products similar to Issac’s line of athletic clothing. In light of the increased competition, Issac and Lars agree that Lance should receive 5% of any sales he generates, instead of just 2%. Choose the best answer: The modified contract is not enforceable, because of the pre-existing duty rule.

The modified contract is not enforceable, because it includes sham consideration. The contract is enforceable, because all promises are enforceable. The modified contract is enforceable, because it is fair in light of circumstances unanticipated at the time Issac and Lars formed their contract. Question 7 5 / 5 pts Which of the following is a true statement regarding consideration? When assessing consideration, a court is concerned with whether the parties have agreed to a fair exchange and a court is not concerned with whether the exchange was bargained for. An unfair bargain cannot constitute consideration since nobody would genuinely bargain for a contract that is not fair. Even if the thing exchanged for a promise is a "sham" and not really sought in exchange for the promise, the exchange will still constitute consideration. None of the above. Question 8 5 / 5 pts Able raises llamas on his ranch. Many of the llama are very valuable because of their excellent coats. His most prized llama wanders off the ranch. Able is concerned because llamas face many natural predators outside of the ranch. Fortunately, the llama wanders into a neighboring farmer's ranch. The owner of that ranch, Bart, provides food, water and shelter for the llama for seven days until Able is able to retrieve the llama. When Able retrieves the llama he promises to send Bart a check for $250 to compensate Bart for his time an expense in caring for the llama. What is Bart's best argument to enforce Able's promise to pay $250? That Able's promise was made in recognition of a past benefit provided by Bart to Able. That Able's promise was bargained for in exchange for Bart's services. That Bart's services were provide in reliance on Able's promise. That all promises are legally enforceable. Question 9 5 / 5 pts Homeowner enters into a contract with Roofing Company to replace Homeowner’s roof. The contract price is $14,000, payable after the completion of the work. Roofing Company fails to do any of the work, and Homeowner pays Roofing Company nothing. Homeowner has to pay $15,500 to another roofing contractor to replace the roof. Which of the following correctly describes Homeowner’s “expectation interest”? Homeowner’s expectation interest is $0. Homeowner’s expectation interest is $1,500. Homeowner’s expectation interest is $14,000. Homeowner’s expectation interest is $15,500. Question 10 5 / 5 pts Which of the following contracts is subject to the Convention on Contracts for the International Sale of Goods (CISG)?

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A contract for the sale of business goods between a seller in California and a buyer in Oklahoma. A contract for the sale of a parcel of land located in North Dakota from a seller residing in Mexico to a buyer residing in Michigan. A contract for the sale of consumer goods between a seller in California and a buyer in Oklahoma. A contract for the sale of business goods from a seller in Mexico to a buyer in Michigan. Question 11 5 / 5 pts Which of the following can serve as consideration if exchanged for another promise? A promise not to work as a security guard for six months after the termination of a person's employment. A promise not to work for a competing business for six weeks after the termination of a person's employment. Both a and b. Neither a nor b. Question 12 5 / 5 pts True or false: A gift promise is generally unenforceable, unless the promisee reasonably and justifiably relies upon it. True False IncorrectQuestion 13 0 / 5 pts Alan signs a one-year agreement to work out at Becky's 24-Hour Fitness Center at a cost of $1,200. At the start of the twelfth month, Alan calls Becky and asks if he can continue to work out at her Fitness Center for an extra month after the one-year agreement ends without any additional charge. Becky agrees. Choose the best answer. Becky's promise to allow Alan to work out for an additional month is unenforceable because she did not assent to the modification. Becky's promise to allow Alan to work out for an additional month is unenforceable because it was not supported by consideration .-possibly the right answer Becky's promise to allow Alan to work out for an additional month is enforceable because she assented to it. Becky's promise to allow Alan to work out for an additional month is enforceable because she exchanged it for consideration. Question 14 5 / 5 pts Which of the following is a gift promise, unenforceable under the “bargained-for-exchange” theory of consideration?

A promise by Franklin to care for his neighbor’s lawn while the neighbor is on vacation, if the neighbor will promise to do the same for Franklin while he is on vacation. A promise by an aunt to pay $2,500 to her niece for “always being so polite.” A promise by an aunt to pay for her nephew’s car insurance, if the nephew promises to save money to buy his first car (rather than taking out a loan to finance it). A promise by a used car dealer to include a “90-day warranty” on the car, “at no additional cost,” if the buyer will agree to pay cash for the car today. Question 15 5 / 5 pts Arnold operates a non-profit organization that provides free legal advice and representation to people in his community who cannot afford a lawyer. Betsy is a lawyer who always thought it would be fun to manage a law firm or legal services organization. Arnold advertises that he is looking for a volunteer to serve as executive director of his organization, supervising a staff of 25 lawyers, without any payment or benefits. He offers the position to Betsy, but -tells her one requirement of the position is that she live within a 60-minute commute of the organization's headquarters in Columbus, Ohio. Betsy accepts the offer, quits her job, sells her home in Jacksonville, Florida, and relocates to a new home in Columbus. The day before she starts her new job, Arnold tells her he decided to hire someone else. What is Betsy's best legal argument if she wants to recover her expenses incurred in relocating from Arnold? That there was a bargained-for exchange between Betsy and Arnold. That Betsy relied on Arnold's promise to her detriment. That Arnold was unjustly enriched. Betsy has no viable argument to recover anything from Arnold. Question 16 5 / 5 pts True or False: If a contract is made under circumstances in which one party clearly gets a better deal than the other, the deal is unfair, and there will be no consideration. True False Question 17 5 / 5 pts Craig has been an employee of Stamping Corporation for seven years. His manager, Renee, notices that he has been working late, making sure that the company metal-stamping equipment is properly cleaned and lubricated at the end of each workday. Renee tells Craig that she appreciates his hard work, that Craig should not feel obligated to stay late to clean and lubricate metal-stamping equipment anymore, and that Craig can expect a $250 bonus in his next paycheck because of his past efforts. Is the Renee's statement enforceable based on the theory of consideration? No, Renee's promise was not a bargained-for exchange, since Craig never asked for payment. Yes, Renee's promise was a bargained-for exchange, since it created an expectation in Craig that he would receive a bonus check. No, Renee's promise was not a bargained-for exchange, since Craig had already done the work.

Yes, Renee's promise was a bargained-for exchange, since it was exchanged for Craig's extra work. Question 18 5 / 5 pts Jerry loses his favorite gold wrist watch while at work. He posts signs in the office building where he works and in the adjacent parking garage, offering a $500 reward to anyone who finds the watch and returns it to him. Renee, one of Jerry's co-workers, finds the watch in an office stairwell, recognizes it as Jerry's, and returns it to him, not knowing that Jerry has offered a reward for its return. Choose the best answer: Jerry owes Renee $500 because she returned the watch in exchange for Jerry's promise to pay $500. Jerry does not owe Renee $500 because that would be an unfair bargain. Jerry owes Renee $500 since she returned the watch in reliance on Jerry's promise to pay $500. Jerry does not owe Renee $500 because she did not return the watch as a bargain for the $500. Question 19 5 / 5 pts True or False: The reliance doctrine only enforces promises that a promisor should reasonably expect to induce reliance by a promisee. True False Question 20 5 / 5 pts True or false: An agreement modifying a contract for the sale of goods does not require any consideration to be binding, but must be made in good faith. True False Question 21 5 / 5 pts Able owns a landscaping company. He sends one of his landscaping crews to the Jackson residence mow the grass around their home. The crew misreads the house numbers, and instead of mowing at the Jackson's house, they start mowing the grass at the Carson's house, three houses down the street. The Carson family home needs to have grass mowed, so although they notice the landscaping crew starting work on their yard, they let the crew mow the grass at their home without objecting. When Able sends a bill to Mr. and Mrs. Carson, they refuse to pay it, arguing that they never promised to pay for the mowing services. What is Able's best argument? That he is entitled to recover because of a bargained-for exchange. That he is entitled to recover because Mr. and Mrs. Carson received a benefit at Able's expense, under circumstances that make it unjust for Mr. and Mrs. Carson to keep the benefit without paying for it. That he is entitled to recover based on reliance. That past consideration requires Mr. and Mrs. Carson to pay Able.

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Question 22 5 / 5 pts An agreement reached concerning some details of a transaction but leaving other details to be determined later is called what? an executory contract. an empty contract a preliminary agreement Quiz Score: 105 out of 110

Week 3 Quiz-Bases For Enforcing Promises

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