sample exam 2

sample exam 2 - Sample Exam 2 Questions 1. Jill offers to...

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1 Sample Exam 2 Questions 1. Jill offers to pay Kyle $500 if he jogs across the Golden Gate Bridge. Kyle can accept the offer only by jogging across the bridge. If Kyle jogs across the bridge, he and Jill will have formed: a. A bilateral contract. b. A moral obligation. c. A unilateral contract. d. A social contract. 2. Michelle makes an offer to Tiger. The offer is effective even if: a. Michelle does not communicate it to Tiger. b. Michelle secretly does not intend to be bound by the offer. c. The terms of the offer are not reasonably definite. d. The subject matter and the consideration are not stated in the offer. 3. Tim tells Mack that he plans to sell his Microsoft stock for $150 per share. Mack accepts and gives Tim $150 per share for the stock. Which of the following is true: a. A contract is formed because Mack timely accepted. b. A contract is formed because consideration is given by Mack. c. A contract is not formed because the parties issued an agreement to agree. d. A contract is not formed because Tim made a statement of intention. 4. Wanda, who is quite ill, writes to her friend Amanda, offering to sell Amanda her grand piano for only $400. That night, Wanda dies. The next day, Amanda, not knowing of Wanda’s death, writes a letter to Wanda accepting the offer and enclosing a check for $400. Has a contract been formed? a. Yes, because when Amanda accepted the offer, she did not know about Wanda’s death. b. Yes, because Amanda can enforce the contract against Wanda’s Estate. c. No, because Wanda was ill. d. No, because the offer terminated automatically when Wanda died.
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2 5. Jay promises to give Trudy, his daughter, $15,000 towards the purchase of a car. In reliance, Trudy buys a car for $13,000. If Jay refuses to pay Trudy the $13,000, which of the following is true: a. Jay is liable for the $13,000 based on promissory estoppel. b. Jay is liable for the $13,000 based on preexisting duty. c. Jay is not liable for the $13,000 because the agreement lacked consideration. d. Jay is not liable for the $13,000 because the agreement should have been in writing. Fact pattern for Questions 6 - 8:
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This note was uploaded on 02/27/2008 for the course BCOR 3000 taught by Professor Morley during the Summer '07 term at Colorado.

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sample exam 2 - Sample Exam 2 Questions 1. Jill offers to...

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