Contracts Keyed to Frierback
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A rookie fullback for a football team was excited that, after years of hard work at a high school and a state university, he finally achieved his lifetime dream of playing for a professional team. The football player purchased a condominium and a new car shortly after he signed a three-year $1,500,000 contract. On September 1, 2007, the football association decided to call a strike. The football player was called into the management office of the football team. “We need you for our next game. This is your chance to get off the bench and become a star,” the general manager said. The football player replied, “I know, but I can’t be a scab. “Management replied, “You don’t want to lose your new car and condo because you can’t pay your bills, do you?” The football player responded, “That’s true, I don’t, but I’m afraid those guys are going kill me. After the strike is resolved, every time I get tackled I’ll be afraid for my life.” The football player watched the next three Browns games on TV, knowing he could have been the hero of those games.
On September 18, the football player received an envelope from the football team that said, “Inside, an offer you can’t refuse.” Inside the envelope a letter stated, “In exchange for five dollars which we have received from you, we hereby guarantee to give you a three-day option to accept a contract for the balance of the season at $40,000 per game.” The strike was settled on September 19. Hours after the settlement, the football player conveyed his acceptance of the September 18 offer. “The offer has been revoked. You are going to collect splinters on the bench at your regular salary,” the football team told the football player. The football player then brought an action to recover $40,000 per game.
Which of the following statements is the best answer?CorrectIncorrect
A woman owed her auto mechanic $2,000. The debt remained unpaid until any claim for its repayment became barred by the statute of limitations. The woman then agreed in writing to pay the mechanic $1,500, but failed to pay him.
If the mechanic sues the woman for the $1,500, will the court rule in his favor?CorrectIncorrect
A manufacturer of a very popular, artisanal red cheese enters into an agreement with a retail seller of gourmet foods. The agreement provides that the retailer will buy and the manufacturer will sell all of the red cheese that the retailer requires for two years at $500 per 10-wheel container. In the past two years, the retailer has sold 10 containers per year but estimates that it could sell twice that amount with a steady supply.
Under the above facts, what are the relative obligations of the manufacturer and the retailer?CorrectIncorrect
A vineyard and a wine distributor enter into a valid written agreement whereby the vineyard is to supply the wine distributor with all of the distributor’s requirements of wine for a period of five years. The agreement contains a non-assignment clause. Nonetheless, a few months after the agreement is entered into, the vineyard assigns its rights under the contract to one of its creditors. After one year, the wine distributor decides that it wishes to purchase its wines from a different vineyard and terminates its contract with the original vineyard.
If the creditor of the vineyard sues the distributor, will it prevail?CorrectIncorrect