Contract Questions

Other pledges are obtained to pay off the mortgage

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Unformatted text preview: mortgage. Other pledges are obtained to pay off the mortgage, but now Barbara has changed her mind and plans to take an around the world cruise instead. a. b. c. d. There is no consideration for Barbara’s promise to pay $10,000. The promise to pay $10,000 is a promise to give a gift and is therefore not enforceable. Barbara’s promise is enforceable. Two of the above, a and c. 157. Barnes was holding an annual auction at his farm to sell tools, animals, and leftover crops. Adams showed up at the auction and saw a plow among the merchandise. Adams bid $50 for the plow, and no one bid against her. The auctioneer did not accept Adams’ bid and stated that the plow would not be sold for such a low price. a. Adams’ bid constituted an acceptance which formed a valid contract. b. Adams’ bid was only an offer. c. The plow could not be withdrawn from the auction. d. There must be two bids before property can no longer be withdrawn from an auction. 158. Beatrice purchased a rocking chair from th...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.

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