Molly Maid promised to clean Shelly Student's house for $40 and Shelly promised to pay her by September 5. This may be classified as a(n) ____________.
A. Express contract
B. Right of first refusal
C. Quasi-contract
D. Executed contract
E. Option contract
Ans A. Express contract
Molly Maid promised to clean Shelly Student's house for $40 and Shelly promised to pay her by September 5. This may be classified as a(n) Express contract.
Express contract is one in which the terms of the contract are explicitly set out. In this type of contract all the elements would be specifically stated.
Molly Maid promised to clean Shelly Student's house for $40 and Shelly promised to pay her...
36. Which of the following is NOT a typical ground for rescinding a contract? a. Fraud b. Mutual mistake of fact Mutual mistake of value c. d. Duress e. Undue influence 37. In her life insurance policy, Laurel names Jones as the payee when Laurel (the insured) dies. Jones is known as a(n) a. Donee beneficiary b. Incidental beneficiary c. Creditor beneficiary d. Unintentional beneficiary e. None of the above Widget Painters, Inc. agrees to paint Ashford's house, using a...
A unilateral contract is formed when the offeror makes an offer to pay money for some service by the offeree the offeree performs an act requested by the offeror. the offeror solicits a promise of performance from the offeree the offeree promises to perform an act requested by the offror. b. A contract that is formed by the acts and conduct of the parties is called_ contract a. an implied-in-law b. an implied-in-fact express d. implicit C. Rocky was hired...
Sue will need $120,000 to refurbish her house at the comer of a main road into a cake shop in 5 years. She has a saving account which earn 3.47% p.a. compounding quarterly and she is able to deposit $800 into that account at the end of each month for 5 years. a) Will Sue have enough money after 5 years? If not, how much is in short? Show all calculations. (4 marks) b) Even if Sue may not have...
1. Which of the following is true about a promissory estoppel? A) It is invoked in cases having incompetent parties. B) It permits a court to order enforcement of a contract that lacks consideration. C) It allows for a party to claim goods that were never paid for. D) It is invoked in cases that involve a promissory note. 2. Which of the following is true for a minor under the infancy doctrine? A) A minor is bound to the...
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5. Bob sent Sam this text: "Will sell you my used golf clubs for S400." Sam replied, "I accept. Will pay $200 immediately and $200 by this Friday" An hour later Sam texted, "Changed my mind. I've founda better deal elsewhere and won't buy your clubs after all." How much...
Question 22 Frank's mother it go to college Who Frankis taking with her house words from college and the spot Helsbong at school and down Below are T/F questions and matching questions. Match the question with the best answer А Star-Gate Development Funnel Sharon was given an assortment of oils that she could make soaps, scents, etc with. She is trying to create the process of M activities she needs to be able to sell her products to customers. She...
Question 1 -Interest & loan Sue will need $120,000 to refurbish her house at the corner of a main road into a cake shop in 5 years. She has a saving account which carn 3.47 % p.a. compounding quarterly and she is able to deposit $800 into that account at the end of each month for 5 years. a) Will Sue have enough money after 5 years? If not, how much is in short? Show all calculations. (4 marks) b)...
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QUESTION 12 Following a year of record revenue generation, Produce Packaging Company promised that it would give a $1,000 bonus to each employee who was on the payroll at any time during the last year. With respect to this promise, it is likely a. Enforceable, because the bonus is warranted. b. Unenforceable, because the employees have not given consideration in return. OC. Unenforceable, because Produce could have paid more. od. Enforceable, because the employees' hard...
i need help on this Chapter 9 Section 3 Question 1: Rudy puts this poster, with a photo of his dog, on utility poles around his neighborhood: “$50 reward for the return of my lost dog.” Carlene doesn’t see the poster, but she finds the dog and, after looking at the tag on its collar, returns the dog to Rudy. As she leaves his house, her eye falls on one of the posters, but Rudy declines to pay her anything....
The balance sheet at December 31, 2021, for Nevada Harvester Corporation includes the liabilities listed below: a. 11% bonds with a face amount of $40 million were issued for $40 million on October 31, 2012. The bonds mature on October 31, 2032. Bondholders have the option of calling (demanding payment on the bonds on October 31, 2022, at a redemption price of $40 million Market conditions are such that the call is not expected to be exercised, b. Management intended...