Quiz questions and answers

131 contracts to commit a crime are valid legally

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131. Contracts to commit a crime are valid, legally enforceable agreements. a. False 132. In order to be enforceable, a non-competition clause must be reasonable in time, geographic area, and scope. a. True 133. Exculpatory clauses are always enforced by the courts. a. False 134. A contract that relieves the other party of liability as a result of intentional wrongdoing may be enforceable. a. False 135. A morally unconscionable contract may be treated as if it were illegal. a. True
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136. Which of the following contracts are generally enforceable? a. A contract between two people whereby one agrees not to sue the other. 137. Which of the following is a remedy for unconscionability? a. Court can refuse to enforce agreement and Court can refuse to enforce unconscionable provision but enforce the rest of the contract 138. Paul bet Traci $100 that the Falcons would beat the Hawks on Saturday. Traci accepted the bet. When the Falcons beat the Hawks, Paul went to Traci's house to collect his winnings. What is Traci's best argument for not paying Paul? a. The contract is void if gambling is illegal under state law. 139. Ana, a 19-year-old immigrant from El Salvador entered an agreement with Hal=s to buy a new projection TV for $2,700. Ana cannot read English, although she was given a copy of all of the sales and financing arrangements. Ana had signed a loan agreement to pay 17% interest, although the average consumer loan rate at the time was 12%. If Ana wants to rescind the agreement, her best argument is: a. That the agreement was unconscionable. 140. E-mation, Inc. hired Marvin to steal trade secrets from one of its competitors for $10,000. Marvin demanded half of the money in advance. E-mation paid Marvin $5,000 but Marvin decided not to steal the trade secrets. E-mation sued Marvin for the return of the $5,000. Under these circumstances, the court will probably: a. Do nothing; the contract is unenforceable. 141. Bilateral, executory contracts that cannot be performed within one year from the day on which they come into existence must be in writing to be enforceable. a. True 142. All contracts for $500 or more must be in writing in order to be enforceable. a. False 143. An oral contract for the sale of land which has been fully performed may be enforced. a. True 144. Renee hired Max, a painter, to paint her house for $4,500, supplying the paint and services. Assume that the value of the paint alone exceeds $500 in value. If so, the agreement, to be valid, must be in writing. a. False 145. William orally agreed to sell Harry his home in Birmingham, Alabama. This agreement is not governed by the statute of frauds. a. False 146. Which of the following contracts are generally within the statute of frauds? a. Contracts that transfer a real property interest to another. A promise by an executor to pay the estate's debt out of his funds. Contracts where the promisor promise to pay the debt of another if the primary debtor fails to pay.
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Christopher Reinemann
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