florida-state-bul2131-mod-7-exam

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QUESTION 1

  1. Bob was hired as the manager of a warehouse at a rate of $100,000 per year. He was told that if he did a good job for several years, he could be considered for partnership so that his efforts could be rewarded with part ownership of what he managed. For several months, he and the boss did well, then unexpectedly, the boss decided that he wanted to give his son, Alex, the manager’s job, so he fired Bob.

    Bob sued the warehouse owner for breach of contract, and the warehouse owner defended by saying that there was not an enforceable contract because nothing was in writing.

    Will Bob win a breach of contract suit, or will the fact that the contract is not in writing prevent him from getting any compensation?

    A.
    B.
    C.
    D.

10 points

QUESTION 2

  1. Mary’s dad died, and she was named executor of his estate. While wrapping up his financial matters, she found a debt that her dad owed for borrowing money from a church. She phoned the church and the pastor was very happy to learn that Mary would be settling all debts for her father, and that the church loan would be repaid. The pastor asked if there would be enough money in the estate to pay the church bill, and Mary said, “Yes, but even if there is not, I know that you’ve helped Dad so much that I will pay it if the estate does not. ” She ended the call with a good feeling about being able to repay that loan that helped her father.

    Mary later learned that there were secured loans taken out by her dad that she didn’t know about, and all the money in his estate went to pay those higher-priority bills, leaving nothing to repay the church. When she explained this to the Pastor, he said that he understood, but that he would require her to follow up on her agreement to pay the church if the estate didn’t.

    Is Mary obligated to pay this debt of her father?

    A.
    B.
    C.
    D.

10 points

QUESTION 3

  1. Dr. Smith and his wife Mary announced at a church event in January that they would fund the construction of a new classroom wing in the church’s elementary school, and that they would make that payment to the Church the following September. The church immediately found a construction company that agreed to construct the elementary wing immediately, and that by the time the construction is finished, it would be September and the contractor could get paid.

    In July, Dr. Smith found that he had cancer and would have to stop practicing medicine for at least two years, and might never be able to go back to work. As a result, he reluctantly said that he and his wife could not pay for any construction of the church’s school.

    Dr. Smith’s attorney pointed out that there was nothing in writing to support the donation by the Smiths to the church, and that in fact there was no contract at all, because the Smiths did not receive any legal consideration from the transaction – it was a one-way promise, at best.

    Will the church be able to force Dr. Smith to pay for the construction of the school wing?

    A.
    B.
    C.
    D.

10 points

QUESTION 4

  1. Bill and Steve were both very much into laptop computers, and they often disputed which laptop was the best. One day at lunch, both had their laptops and were comparing notes. They agreed that each other had a great laptop, and Bill said, “Well, if we like each other’s laptops so much, why don’t we just exchange them here? I’ll take yours to own, and you take mine!” Steve thought about it and agreed, and Bill wrote out a statement on a paper napkin at the restaurant that said, I agree to exchange my laptop for Steve’s.” He then intialed it BG – for his first and last name (Bill Gaytes). Steve similarly wrote “I agree to swap my laptop for Bill’s” but he didn’t intial it.

    After a couple of days, Bill wished he had not traded with Steve, and sought to get the exchange rescinded. Steve was happy to get Bill’s laptop, though, and said that they had a contract and that Bill would just have to be happy with the exchange. Bill pointed out that he had only initialled it, and that Steve had never signed it. It also didn’t specifically give the serial numbers or any other data about the laptops.

    Was this swap an enforceable contract, requiring Bill to keep what was Steve’s laptop and leave his with Steve?

    A.
    B.
    C.
    D.

10 points

QUESTION 5

  1. Cartman and Kenny were discussing the possible sale of Cartman’s bike to Kenny. They discussed the matter at length, and Cartman drew up a detailed contract that sold his bike to Kenny for $500.00. Both signed the agreement. As they split up for Kenny to get the money and Cartman to bring the bike, Kenny asked, “Can I also have the tall flag that is on the front handlebars?” Cartman thought about it for a while, and said, “Sure, why not?”

    When Cartman brought the bike back, the flag had been taken off, and Kenny objected, saying that their contract expressly included the flag in the sale. Cartman said that the contract was what it was, and that here’s the bike, and pay him now. Kenny did, but wondered if he could require Cartman to give him the flag.

    Does Kenny have a legal claim on the flag that was on the bike?

    A.
    B.
    C.
    D.

10 points

QUESTION 6

  1. Richard contracted to provide financial consulting services to Stevens Services, and Stevens agreed to pay Richard $10,000 for those services. Richard owed Acme Enterprises $20,000 and was paying 1% on the unpaid balance each month. Acme agreed that it could be paid directly from Stevens Services, which was considered a reliable payor, it would waive the interest payments for three months. Richard and Acme agreed to this arrangement.

    However, when Stevens Services learned of this and was provided a copy of the agreement between Richard and Acme that would require Stevens to pay Acme instead of Richard, it refused to pay Acme directly. Can Acme legally require Stevens to pay Acme what it owes to Richard?

    A.
    B.
    C.
    D.

10 points

QUESTION 7

  1. Williams and Associates operates a large lawn care and landscaping company in Northeast Florida. Business is very good, and the regular staff of Williams is not able to keep up with all the work. Williams explains this to some of his clients, and they agree that Williams can arrange for some contractors do the lawn care for a while until Williams can hire and train sufficient staff to personally perform the required services.

    One of the parties who agreed to the contractor-provided services was Smith. During the first visit, the contractor accidentally poured hydrogen peroxide into the sprinkler diffusion system, thinking it was fertilizer. When the peroxide sprayed on the lawn, it killed all the grass, requiring a re-sodding with a cost of $10,000. The contractor refused to pay the cost of re-sodding. Williams said that although it was an unfortunate problem, Smith had agreed to this temporary substitution, so Williams is not liable for the accident.

    Which of the following is most correct?

    A.
    B.
    C.
    D.

10 points

QUESTION 8

  1. Tish entered into a contract with Michelle, in which Michelle would redecorate Tish’s bedroom to incorporate more lighting and pastel colors. The contract provided that Michelle would perform the duties in a “satisfactory and timely manner.”

    When the work was completed, Tish reviewed the colors and lighting, and determined that it was not satisfactory. Tish refused to pay Michelle the $5,000 due Michelle at the end of the contract, citing a breach.

    Will Michelle be able to legally require Tish to pay her for this job?

    A.
    B.
    C.
    D.

10 points

QUESTION 9

  1. Andy says that he will continue to pay Bob to maintain Andy’s boat so long as Andy owns the boat. Bob hired Charlie’s Fueling Services to provide fuel for Andy’s boat with the understanding that when Bob’s own fueling dock is constructed, Bob will stop using Charlie’s service and fuel Andy’s boat himself. Charlie’s Fueling Service then contracted with David’s River Rats to provide fuel to that club, with the service to begin when Charlie no longer is obligated to support Bob’s fueling of Andy’s boat, because he can’t do both at once.

    What type of contracts exist between:
    Andy and Bob?
    Bob and Charlie?
    Charlie and David?

    A.
    B.
    C.
    D.

10 points

QUESTION 10

  1. Albert owned a condo that he wished to lease, and Barry agreed to lease it for a two-year period at the rate of $2,000 per month. Six months into the lease, Barry’s employer transferred him to Greenland, and he needed to get out of the contract. Barry found another person looking for an apartment, Charlene, who was willing to step into the obligation that Barry had to Albert.

    If Albert agrees to this, and releases Barry from all obligations under the contract, what type of contract action has occurred?

    A.
    B.
    C.
    D.

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