QuickHelper

(10)

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 352 Weeks Ago, 4 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Management Posted 05 Oct 2017 My Price 10.00

All contracts must be in writing in order to be legally enforcible under the law. (Points : 2) True False Question 2.

1. All contracts must be in writing in order to be legally enforcible under the law. (Points : 2)
       True 
       False 

 

Question 2.2. Since a contract must be voluntarily entered into, one who enters into a contract under duress can have that contract voided. (Points : 2)
       True 
       False 

 

Question 3.3. John thinks a book he is buying is worth $50.00.  He buys it and later learns it was worth only $35.00.  John can receive his money back. (Points : 2)
       True 
       False 

 

Question 4.4. A contract that is to be performed over two years must be in writing in order to be legally enforceable in a court of law. (Points : 2)
       True 
       False 

 

Question 5.5. John and Joe reach an agreement. John signs the agreement and sends it to Joe but Joe, being busy, forgets to sign it.   Under the statute of frauds, this contract can be enforced against John but not against Joe. (Points : 2)
       True 
       False 

 

Question 6.6. Mary purchases an insurance contract from Allstate and names her daughter Susan as beneficiary.  Susan can enforce this contract against Allstate because Susan is the party intended to benefit under this contract. (Points : 2)
       True 
       False 

 

Question 7.7. Mark enters into a contract with ABC company to paint his house and to do landscaping.    This will increase the value of Mark's house along with the value of the homes to either side of Mark's house.    The ABC company does a horrible job and the value of Mark's house in fact is lower as are now  the values of the houses next to Mark.    The owners of those houses can sue the ABC company for the damage done to the value of their homes. (Points : 2)
       True 
       False 

 

Question 8.8. John borrows  $100 from Fred.   Fred owes  $100 to Joe.  Fred can assign John's duty to pay Fred the $100 directly to Joe.  If John fails to pay, Joe can sue John for breach of contract. (Points : 2)
       True 
       False 

 

Question 9.9. The Miramax production company hires Lady Gaga to present a concert.   She becomes ill and instead is able to have Celine Dion perform the concert. Miramax production company refuses to let Celine Dion perform  and is sued by Lady Gaga for the agreed fee.   This is a legally enforceable delegation of a duty to a third party so that Miramax owes Lady Gaga the fee. (Points : 2)
       True 
       False 

 

Question 10.10. John contracts to build a display case for Fred. John walks off the job before completing the display case. Fred hires his brother-in-law to complete the display case at twice the cost than any other carpenter would charge. Fred will be able to collect this increased cost as compensatory damages. (Points : 2)
       True 
       False 

 

Question 11.11. Mary enters into a  written contract to buy Joe's house.  Joe decides not to sell Mary the house and tries to negotiate a higher price.    Mary can sue Joe for specific performance to force him to deed to her title to the house at the original contract price.  (Points : 2)
       True 
       False 

 

Question 12.12. if one is concerned about exposure to  the amount of damages in the event of a breach of the contract,  that party can attempt to negotiate a liquidated damages clause which predetermines and fixes the damages  to a set amount. (Points : 2)
       True 
       False 

 

Question 13.13. Joan needs a truck on Saturday to make a delivery which will earn her $10,000.   She rents a truck from Bill.  Joan does not tell Bill why she needs the truck.

Bill fails  to have the truck ready for Joan's use  on Saturday. Joan is unable to mitigate her damages though she makes a reasonable attempt to find another delivery truck at the last minute.

 Joan can sue John for the loss of $10,000. (Points : 2)
       True 
       False 

 

Question 14.14. Equitable damages such as specific performance or injunction are used when monetary damages are not sufficient to give the non-breaching party the benefit of the contract. (Points : 2)
       True 
       False 

 

Question 15.15. Mary agrees to sell John a readily available textbook for $20.   John refuses to sell the book and Mary after  mitigating her damages finds a similar book at a cost of $25.  Her damages due to this breach is $25. (Points : 2)
       True 
       False 

Answers

QuickHelper
(10)
Status NEW Posted 05 Oct 2017 12:10 PM My Price 10.00

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