A minor enters into a contract for the purchase of certain necessaries , in such case Question 8Answer a. he is liable to pay b. his guardian is liable to pay. c. he is not personally liable to pay d. his estate is liable to pay
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- Gaby Gonzalez obtained two CDs at second Federal savings and Loan association (second) with her daughter, Juana Martinez, as beneficiary. right before Gonzalez died, she told her cousin, rafael Gonzalez, where to find her CDs. The CDs had a line through Martinez’s name and rafael Gonzalez’s name added in the section for beneficiary with the notation, “revised beneficiary . . . rc” after Gaby’s death, rafael withdrew some funds to pay funeral expenses and legal fees from one of the CDs. several years later, Rafael discovered that second had paid the CDs to Hector Gonzalez, who was the administrator of Martinez’s estate. Rafael sued second, claiming as the beneficiary that it should have paid him. who was entitled to the proceeds of the CDs?Damages and Equitable Remedies (a) How are damages different than equitable remedies? (b) If David breaches his agreement to pay $5000 to Laura for her car, and she later sells the car to Ellysa for $4000, what is the measure of Laura’s damages from David’s breach? (c) Explain one’s duty to mitigate contract damages. (d) If Olaf breaches his obligation to deliver a new car to Lisa, is it likely that a court will require Olaf to deliver the car through the remedy of specific performance?Firm A is having financial difficulties. It delivers goods to a carrier for shipment to a foreign buyer, obtains a Bill of Lading (BOL), and negotiates the document to the buyer. In the meantime, a creditor of the seller attempts to put a lien on the goods to satisfy it debt. In this example whose property claim to the delivered goods will prevail? a. Firm A b. The buyer c. the creditor d. They have equal claims and the dispute needs to be submitted to court for final resolution
- Ming entered into a contract with Lee to supply Lee with smuggled cigarettes. Lee received the smuggled cigarettes and tried to sell them off at a profit. However, due to the COVID-19 pandemic, Lee could not find any buyer for the smuggled cigarettes. Without any profit, Lee was unable to pay Ming the outstanding sum under their contract. Required: Analyse whether Ming is entitled to seek assistance from the court to claim back the outstanding sum under the contract from Lee. Support your discussion with relevant legal principles and cases, if any.Bryson is the owner of a deferred annuity. His son, Calvin, is the annuitant, and his daughter, Isabelle, is the beneficiary. Which parties to this annuity can select the type and timing of annuitized income payments?(Search Chapter 3) a. Bryson b. Calvin c. Isabelle d. Bryson, Calvin, or IsabelleThe contract of sale is an onerous contract. a. True b. False
- Bakar is a renowned pastry Mama Cafe, a sole proprietorship, is a well-known restaurant in need of hiring a pastry chef. Bakar and Cafe’s Owner had extensive conversations regarding Bakar coming to work at Cafe. On May 1, a week after those conversations occurred, Bakar sent Cafe a signed letter dated May 1 stating, “I will work for Cafe as a head pastry chef for two years for an annual salary of RM50,000.” On the morning of May 7, Cafe’s Owner telephoned Bakar and said, “The RM50,000 is pretty stiff. Could you possibly consider working for less”? Bakar replied: “I am a renowned pastry chef. I will not work for any less.” Later that morning, Cafe’s Owner sent Bakar a signed letter by regular mail stating: “You obviously think you are too good for my restaurant. I am no longer interested in hiring you to work at Cafe.” Later that afternoon, Cafe’s Owner had a change of heart and sent Bakar a registered, express-mail signed letter stating: “Okay, if you really won’t work for less, I…14) The person who gave assistance in agency relationship is known as agent. a) True b) False 15) The governing law for contract of sales is Sale of Goods Act 1957. a) True b) FalseIt is assumed that a drawer or maker will recognize his or her own signature and that a maker or an acceptor will recognize whether an instrument has been materially altered. Therefore, with respect to any of these parties who in good faith accepts an instrument, in terms of presentment warranties, a. all of them apply. b. none of them apply. c. only the warranties that the instrument has not been altered and that the person obtaining acceptance has no knowledge of an unauthorized signature apply. d. only the warranty that the person obtaining acceptance is entitled to enforce the instrument applies.
- Professor Shott buys a Porsche against the wishes of his much more intelligent wife. Professor Shott soon realizes his mistake when he starts to make the car payments. Jane, a very wealthy 17 year old, offers to buy the Porsche and Professor Shott accepts. Now assume that before she turns 18 Jane gets in an accident and badly damages the Porsche causing $20,000 in damage. Assume she originally paid Professor Shott $50,000 for the car. If Jane now seeks to return the damaged car what is the result? Professor Shott must refund Jane his money minus the amount of the damages. Professor Shott does not have to refund Jane anything. Professor Shott can demand it be repaired before giving Jane a refund. Professor Shott must refund Jane 100% of his money even though he damaged the car.S insured his appliance store under an owner, landlords, and tenant’s policy that included products liability coverage. While he was demonstrating a microwave oven the door came open and injured a customer. Which of the following would protect S? The oven manufacture’s products liability policy The premises-operation section on S’s policy The products Liability section on S’s policy The incidental contracts section of S’s policyOwe