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Unformatted text preview: wait for your answer before selling.
A written promise by a shipbuilder to an iron ore producer “to purchase all the iron ore I may
need during the next year” is
unenforceable because the promise is illusory.
unenforceable because there is inadequate consideration.
unenforceable because the promise is too indefinite.
unenforceable because there is no consideration.
enforceable if the producer had agreed to sell. a.
d. A/an ___________ is a law establishing a maximum rate of permissible interest for which a
lender and borrower of money may contract.
none of the above 79.
d. A/an ___________ is a measure designed to protect the public from unqualified practitioners.
usury statute 80. Abel owes Baker $100. Baker, tired of chasing Abel and listening to his excuses, finally corners
Abel one day after class and tells him that if he pays him $50, Baker will cancel the entire debt.
Abel quickly agrees, pulls out a...
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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.
- Fall '12
- The Lottery