Contracts Keyed to Frierback
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A child lost her lunch on the way to elementary school. She walked to the local grocery store and explained her predicament to the manager. He told her that if she agreed to pay him back the following day, she could have a pre-pack- aged lunch. The child accepted the manager’s offer, picked up her lunch, and promised to pay the manager the following day.
If the child refuses to pay and the grocery store sues her for the cost of the lunch and wins, it will be because:CorrectIncorrect
A fifteen-year-old computer designer owned a computer software company that he had started at the age of ten. In 2005, the company had sales of $41,000,000. One of the software company’s client gave the computer designer a 6-month note for $10,000 to settle an insurance claim between them. The computer designer sold the note to his neighbor for $9,000, and then told his client that the note had been ruined when he left it in the pocket of a pair of jeans that his mother washed.
The client gave the computer designer a note identical to the first. The computer designer sold the second note to his bank for $9,500.
His client had still not paid the note thirty days after it was due.
Assume the neighbor and the friend bring actions against the client for payment on the notes. Assume further that the client argues, inter alia, the computer dsigner was a minor.
The trial court will ruleCorrectIncorrect
A buyer decided to purchase a used car, and when she settled on one she liked, asked the dealer, whether the car had ever been in an accident. The dealer replied “Well, that is a fine car you are looking at, and has been inspected, and also comes with a certificate of assured quality. Feel free to have the car inspected by your own mechanic.” In reality, the car had been in an accident and the dealer had known about it, since he had done the repairs himself, carefully concealing any evidence of an accident. The buyer declined to have the car inspected, relying on the dealer’s obvious charms, and at no time did the dealer disclose that the car had been in an accident. Both parties signed the contract of sale, and after the car was delivered and paid for, the buyer learned about the major accident.
If the buyer sues the dealer to rescind the contract, is she likely to succeed?CorrectIncorrect