Dimitri lends his brother, Calvin, $1,800. Calvin and Willa agree that Calvin will build a new pool deck for Willa in exchange for Willa paying Dimitri $1,800. Calvin builds the pool deck, but Willa refuses to pay Dimitri any money. Can Dimitri sue for payment? O No. because Dimitri was not a party to the contract. O No, because Dimitri did not build the pool deck. O Yes, because Dimitri is a donee beneficiary. O No, because Dimitri is an incidental beneficiary. O Yes, because Dimitri is a creditor beneficiary.
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- Mai enters into an agreement to sell an antique bedroom set to Alice for $200,000 because it is exquisite and unique. Madison offers to pay Mai $250,000 for the furniture. Mai calls Alice to cancel the contract. Is this a type of contract where usually contains a liquidated damages clause? Why or why not?Oxy Corp. is negotiating with Wick Construction Co. for the renovation of Oxy’s corporate headquarters. Wick, the owner of Wick Construction Co., is also one of the five members of Oxy’s board of directors. The contract terms are standard for this type of contract. Wick has previously informed two of the other directors of his interest in the construction company. Oxy’s board approves the contract by a three-to-two vote, with Wick voting with the majority. Question: Should the contract between Oxy Corp and Wick Construction corp. be set aside or is it binding? What would have been the proper way for Wick to conduct himself at the Oxy board meeting?Harry, Beatrice, and Mallory are neighbors. They each have young children, and the three of them - Harry, Beatrice, and Mallory - decide to build a waterslide for their children to enjoy. They also agree to split the cost of fixing the waterslide if anything happens to it. Eventually, the slide breaks, and it will cost $180 to repair it. Beatrice proposes that they buy a new slide for $300. Harry agrees and they purchase it without speaking to Mallory. For how much of the cost is Mallory responsible? Ⓒ$100 O $0 $60 O $180 Ⓒ$300
- Bill offers to sell Mary his computer for $500. Mary counters with an offer of $400 Bill rejects this offer. Mary tells Bill: "OK, I'll buy the computer for $500." Bill tells Mary: "I've decided not to sell the computer after all." Bill is in breach of contract because Mary made a valid offer. True FalsePeter and Donald disagree on the interpretation of a business contract. Peter believes Donald owes him $20,000 and Donald believes he owes nothing. Peter believes he (Peter) has a 60% chance of prevailing. The cost of litigating is $2,000 each. Donald is 100% certain that he (Donald) will prevail. Which of the following statements are true? O This case will not settle because Peter and Donald have different expectations about who would win in court. O The case can settle with Donald paying Peter $9,000. O The case can settle with Donald paying Peter nothing. O The case can settle with Donald paying Peter $2,000.Lorraine and Darius are friends. Lorraine is engaged and wants to have the wedding of her dreams, but she cannot afford it. Darius wants to help with this, so he anonymously gives Lorraine $10,000. Lorraine is happy and does have the wedding of her dreams. A month later, Darius loses his job and asks Lorraine for the $10,000 back. Lorraine refuses. Darius sues Lorraine. The court will a. order Lorraine to pay Darius the money because she used the money. b. not order Lorraine to pay Darius the money because valid consideration was not present. c. order Lorraine to pay the money because anonymous gifts of money must be repaid. d. not order Lorraine to pay the money because there was nothing in writing.
- 9Olav starts Power Cells to make and sell batteries. Later, Olav contracts with Quinn to invest additional capital in the firm in exchange for 25 percent of the profits. Olav and Quinn are not partners in Power Cells becauseJames is looking to enter into a listing contract with Mary to sell her house. The two are trying to come to an agreement on what type of listing contract to use. What type of listing contract will offer James the least amount of protection? O An open listing agreement since it is a unilateral contract. O An exclusive Right to Sell agreement since it is a bilateral contract. O An Exclusive Agency agreement since the owner can still find a buyer themselves O An Exclusive Agency agreement since it is a unilateral contract.
- Shawn buys 50 widgets at a store closing sale. He buys the widgets intending to use them around the house. He only uses 25, though, and decides to sell the remaining widgets online. Shawn lives in Colorado. He finds an individual buyer, Victoria, in Italy. Does the CISG apply if there is an issue with this contract? O No, because at least one party must be a merchant. Yes, because the contract does not state that the CISG does not apply. O Yes, because the CISG automatically applies when two signatory country parties enter into a contract. No, because the contract does not state that the CISG applies. O No, because these are two consumers.While mingling with neighbours at a party, Ato mentions that he is responsible for evaluating bids for a large computer software contract. A few days later, Ato receives a lunch invitation from one of his neighbours who also attended the party. Over appetizers, the conversation turns to the contract Ato is managing. Ato's neighbor seems remarkably well informed about the bidding process and likely bidders. Ato volunteers information about the potential value of the contract and briefly outlines the criteria his firm will use to select the winner. At the end of the lunch, Ato's neighbor surprises him by revealing that he is a consultant for several companies in the computer software market. Later that day, Ato's mind is racing. Question1 Did Ato reveal information that could provide a supplier with a 1.competitive advantage in the bidding process? 2. What are the potential business risks and ethical issues in this situation? 3.Should Ato report the conversation to someone? If so, whom…Subject - account Please help me. Thankyou.