Contracts Keyed to Frierback
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A builder of racing cars entered into a contract with a buyer to sell him a hand-built car for $25,000. The price was to be paid and the car was to be delivered one week later. Unbeknownst to the buyer, the builder’s wife had a one-half interest in the car. The day after the contract was signed, the builder called the buyer and told him about his wife’s half interest in the car, and that she would not go along with the sale at $25,000 but would agree to a sale for $40,000.
If the buyer sues the builder for breach of contract, will the court find that there is an enforceable contract for $25,000?CorrectIncorrect
A man fed a lost cat and returned it to its owner. She was so happy to see her cat that she promised to leave the man money in her will. When the cat owner died a few days later, the man visited the owner’s daughter demanding his share of the estate. All of the cat owner’s bank accounts had been held in joint tenancy with her daughter. The daughter reluctantly signed a document stating that she would pay the man $500 in exchange for his agreement not to sue her mother’s estate. She later had second thoughts and refused to pay the man on the ground that there was no consideration for the agreement.
Besides the consideration stated in the daughter’s written instrument, what other fact would strengthen the man’s claim?CorrectIncorrect
Neighbors of an apparently destitute couple bought a month’s supply of food and gave it to them. Later, the wife confided in the neighbors that she and her husband did have money and that, because they had been so kind, she was leaving them money in her will. When the wife died, at the neighbors’ request the husband gave the neighbors the following signed instrument: “In consideration of my wife’s promise to our neighbors, and their agreement not to sue her estate, I agree to pay them the sum of $5,000.” When the husband died of a heart attack several days later, the neighbors asked the administrator of his estate to pay them the $5,000. The administrator refused on the ground that there was no consideration for the agreement.
On which of the following theories would it be most likely that the neighbors would recover?CorrectIncorrect
On May 1, a homeowner told a painter, “If you paint my house, I will give you $5,000. This offer will not be revoked or altered until September 1.”
What is the legal effect of the clause “This offer will not be revoked or changed until September 1?”CorrectIncorrect
A first-year student at a law school worked nights as a stripper to support herself. When her grandfather found out how the student supported herself, he became furious and called her up. “Why didn’t you tell me you needed money? Quit your job and I’ll send you signed notes guaranteeing you support for the next three years. You can even use these notes for collateral if you need a loan,” he said.
The student received C’s in all her first-year courses. She was elated and celebrated by buying herself a brand-new car. A car dealership extended her a loan to finance the car with her grandfather’s notes as security. The student’s grandfather died before the car had been driven 1,000 miles. The executor of the estate refused to honor the notes. The car dealership brought an action against the estate after the student defaulted on her loan and they couldn’t find any other assets to seize.
Is the estate likely to prevail?CorrectIncorrect