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LSU BLAW 3201 FRY FINAL EXAM
A contract contains the provision, "Walter Hamilton promises to pay Faye Weeks $1,200 for a 2003 V- motor provided that Phelps' Garage approves the quality of the motor." This provision: a. makes the contract unenforceable since Walter's promise is illusory. b. creates an express condition which must be met before Walter's duty to pay arises. c. cannot create an express condition because it lacks the necessary words "on condition that." d. cannot be valid since it makes Walter's duty to pay dependent upon the opinion of a third party. - correct answer ✔✔creates an express condition which must be met before Walter's duty to pay arises. William has a contract to build a new office building for Angela. The contract contains a provision requiring William to furnish a certificate of occupancy from the building inspector before Angela is required to pay. This provision is: a. an express condition. b. an implied-in-fact condition. c. an implied-in-law condition. d. a condition subsequent. - correct answer ✔✔an express condition. Which of the following is a contract with a condition subsequent? a. Rhonda enters into a contract to buy a new car conditional upon her getting a loan from her bank. b. Roger bought a VCR, but he may return the VCR within ten days and get all of his money back. c. Both (a) and (b) are examples of a condition subsequent. d. Neither (a) nor (b) is an example of a condition subsequent. - correct answer ✔✔Roger bought a VCR, but he may return the VCR within ten days and get all of his money back. A(n) ____ is a substituted contract that involves an agreement among three parties to substitute a new promisee in place of an existing promisee, or to replace an existing promisor with a new one. - correct answer ✔✔novation
A(n) ____ is a contract between a promisee and a promisor by which the promisee agrees to accept and the promisor agrees to render a substituted performance in satisfaction of an existing contractual duty. - correct answer ✔✔accord Which of the following is/are correct with regard to conditions subsequent? a. Conditions subsequent are quite common in contracts. b. A "sale or return" contract is an example of a contract with a condition subsequent. c. A condition subsequent must occur before performance is due under a contract. d. All of the above are correct. - correct answer ✔✔A "sale or return" contract is an example of a contract with a condition subsequent. Bill recently borrowed $50 from Ricardo for a couple of weeks. Bill, still short of cash, tells Ricardo, "I will wash and wax your car in exchange for the $50 I owe you." Ricardo tells Bill, "OK, that's great!" Ricardo's performance of his new duty will be a(n): - correct answer ✔✔satisfaction. On November 1, Paula and Roberta enter into a contract where both parties are obligated to perform on December 31. On December 1, Paula tells Roberta, "I can, in no way, perform my duties in our contract." This statement is a(n): - correct answer ✔✔anticipatory repudiation. A and B enter into a contract on January 1 of this year. A's friend C tells A, "The law generally restricts the time within which an action can be brought by either party to a contract." C's statement is: - correct answer ✔✔true, because of statutes of limitation. The Code greatly alters the common law doctrine of material breach by adopting what is known as the: a. perfect tender rule. b. anticipatory repudiation rule. c. prevention of performance rule. d. discharge by operation of rule law. - correct answer ✔✔perfect tender rule. Unless one of the parties contractually assumes the risk, the ____ discharges a contract if supervening circumstances make fulfillment of the purpose which both parties had in mind impossible. - correct answer ✔✔frustration of purpose doctrine
d. Russell isn't satisfied with Marty's design. - correct answer ✔✔Marty doesn't plant any flowers, shrubs, or grasses. Phil, the tax accountant, promises to do Marge's individual federal, state, local, and gift taxes for the year. He completes all but the gift taxes. Under the substantial performance doctrine: a. Marge will not have to pay Phil. b. Marge will not have to accept the work. c. Marge will have to pay Phil for all but the gift taxes. d. Marge will have to pay Phil the contract price. - correct answer ✔✔Marge will have to pay Phil for all but the gift taxes. Henry hires Ace Roofing to put a new roof on his house. When Ace comes, Henry refuses to let them on the roof, saying that he has a headache and doesn't want to listen to pounding. The next day, Henry still has a headache and he refuses to allow them on the roof. The day after, the baby is sleeping and Henry refuses to allow them to work. After four weeks of this, Ace: - correct answer ✔✔may be discharged, but Henry is not. Anita, who is a tailor, agrees to sew a suit for Bryan, who promises in return to pay Anita $500 for the suit if he is satisfied with it. Anita completes the suit, which fits Bryan perfectly. Nevertheless, he says that he is not satisfied and refuses to accept or pay for it. Bryan is honest in his dissatisfaction, but he is unreasonable. a. Bryan must pay for the suit even if he is dissatisfied. b. This is an illusory contract, because only Anita is bound. c. Bryan's approval is an objective standard. d. Anita has no recourse against Bryan, because she agreed to the subjective standard. - correct answer ✔✔Anita has no recourse against Bryan, because she agreed to the subjective standard. Lynn, who is a tailor, agrees to sew a pair of drapes for Zach's living room. Zach promises to pay Lynn $300. Lynn completes the drapes using material selected by Zach, but Zach is not satisfied and refuses to pay for them. a. Whether Zach will have to pay for the drapes depends upon whether as a reasonable man he ought to be satisfied. b. The standard applied here is a subjective standard of satisfaction. c. The condition of satisfaction is an implied-in-law condition.
d. The condition of satisfaction is an express condition. - correct answer ✔✔Whether Zach will have to pay for the drapes depends upon whether as a reasonable man he ought to be satisfied. Jim contracted with Kevin to serve as a guide for Kevin on his three-week fishing trip to Canada. The contract was made on April 1 with the trip to begin on June 1. On May 1, Kevin notified Jim that he had changed his mind and would be unable to make the trip. He also refused to pay Jim any compensation. a. Because the contract is executory, Jim has suffered no damages, and Kevin has no obligation to pay any compensation. b. Kevin has anticipatorily repudiated the contract and is liable to Jim for damages. c. Jim is discharged from his duty to serve as guide, and he may bring suit immediately against Kevin. d. Both (b) and (c) above are correct. - correct answer ✔✔Both (b) and (c) above are correct. Miller has a contract to sell 1,000 bushels of wheat to a bakery. The wheat is stored in a grain elevator and has become infested with insects. What is the consequence? a. Miller is discharged from performance because of impossibility. b. Miller is discharged because of frustration. c. Miller is not discharged, but must substitute wheat or pay damages to the bakery for breach of contract. d. Miller is discharged if he can prove that he did not cause the damages to his wheat. - correct answer ✔✔Miller is not discharged, but must substitute wheat or pay damages to the bakery for breach of contract. Arnold and Doug make a contract for Arnold to manufacture five leather chairs of a specified design. Prior to their manufacture, the factory is destroyed in an accidental fire that is no one's fault. The chairs are available from other sources. - correct answer ✔✔Arnold's duty to deliver the chairs is discharged by the destruction of the factory. Louis agreed to provide all the apples that Cindy's Cider Mill will need at $3 per bushel unless weather conditions require additional labor to be hired. The rate would then be $3.50 per bushel. A freeze warning required Louis to hire 100 additional overtime workers, raising the cost per bushel to $4.75. Louis wants to get out of his contract. Can he? a. No, the parties expected the hardship and provided for it in their contract b. No, there is no hardship c. Yes, the contract is impracticable
Anita owes Brad $75,000. Brad signs a written statement granting Glen a gratuitous assignment of his rights from Anita. Brad delivers the signed statement to Glen before Brad dies. a. The delivery of the statement makes the assignment irrevocable. b. The assignment is terminated upon Brad's death. c. The signing of the statement makes the assignment irrevocable. d. The assignment is invalid, because it is revocable. - correct answer ✔✔The delivery of the statement makes the assignment irrevocable. Which of the following duties would not be delegable? a. John has a contractual duty to pay Isaac $50. b. Karl has a contractual duty to deliver 50 bushels of corn to Michael by October 1. c. Jeffrey has a duty to mow Georgia's lawn at least once a week. d. Arthur has a duty to teach an accounting class at a community college during the fall semester. - correct answer ✔✔Arthur has a duty to teach an accounting class at a community college during the fall semester. Theresa has a contract to teach eighth grade at Washington Middle School. She decided she could make more money writing a book, so she assigns her teaching contract to her friend, Stephanie, who is also a licensed teacher. a. The duties under the teaching contract are nondelegable. b. The duties which Theresa has attempted to delegate are personal in nature. c. If the school district agrees to accept Stephanie's services, a novation would occur, which would relieve Theresa of her obligation to the school district. d. All of the above are correct. - correct answer ✔✔all of the above Annette entered into a contract with a local truck dealer to have a new truck delivered to her daughter, Sue, as a graduation present. In this contract, Sue is: - correct answer ✔✔donee beneficiary Professor Dought has a life insurance policy on his own life that provides that in the event of his death, his mother will receive the proceeds. Professor Dought's mother is a(n): - correct answer ✔✔donee beneficiary
Bill wants to buy a new car. He goes to the bank to get a loan for the purchase, and signs an agreement to pay $10.00 per month in premiums on a term life insurance policy which names the bank as the recipient of the policy proceeds in the event of his death before the loan is repaid. The bank is a(n): - correct answer ✔✔creditor beneficiary Betty owes Agatha $1,000. On March 1 Agatha, for value, assigned the debt to Clara. Thereafter, on March 30 Agatha assigned the same right to Diane. a. Under the American rule, Clara will prevail over Diane. b. Under the English rule, the first assignee to notify Betty will prevail. c. Under the Restatement rule, the first assignee to notify Betty will prevail. d. Both (a) and (b) are correct. - correct answer ✔✔Both (a) and (b) are correct. Courts will enforce contracts for the benefit of all but which of the following? - correct answer ✔✔incidental beneficiaries Bill has a right against Heather and assigns it for $100 to Dan. Later, Bill grants Heather a release. Bill: a. is liable to Dan for damages because he breached an implied warranty. b. has no liability to Dan because he did not expressly warrant that he would not impair the assignment. c. has no liability to Dan because the only implied warranty he made was that the assigned right actually existed at the time of the assignment. d. was acting contrary to public policy by assigning a contractual right for money. - correct answer ✔✔is liable to Dan for damages because he breached an implied warranty. Stark enters into a contract with a contractor to build a large shopping mall in River City. Donner will benefit from this contract since his restaurant is adjacent to the planned mall. Donner in this instance is a(n): - correct answer ✔✔incidental beneficiary The party to whom a contractual duty of performance is owed is known as the: - correct answer ✔✔obligee
b. An assignment lacking consideration c. An assignment of an automobile liability insurance policy accompanied by the delivery of the policy d. An assignment in writing signed by the assignor and delivered to the assignee - correct answer ✔✔An assignment of an automobile liability insurance policy accompanied by the delivery of the policy Which of the following is correct with regard to successive assignments of the same right? a. It is impossible for an assignor to assign the same right more than once. b. In England, the first assignee to notify the obligor prevails. c. The Restatement does not recognize the validity of any successive assignments. d. All of the above are correct. - correct answer ✔✔In England, the first assignee to notify the obligor prevails. Noel and Lyle have a contract whereby Noel is to perform routine construction services according to the blueprints that Lyle has provided. Noel assigns the contract to David. As a result of this assignment: a. Lyle can bring suit based upon detrimental reliance. b. Noel has no more rights or responsibilities with regard to the contract. c. Noel no longer has any rights under the contract, but he remains responsible for the duties he agreed to perform. d. Noel has all of his rights under the contract, but he has no responsibility for the performance of the duties. - correct answer ✔✔Noel no longer has any rights under the contract, but he remains responsible for the duties he agreed to perform. Brice owns a parcel of land that is encumbered by a mortgage held by the First National Bank. Brice agrees to sell the land to Paul for $50,000. Brice and Paul together go to the First National Bank to discuss the sale and purchase with the banker. Brice, Paul, and the banker sign an agreement stating that Paul will assume the mortgage and that Brice will be discharged from all further liability on the mortgage. - correct answer ✔✔The agreement among the three is a novation. Anita owes Brad $75,000. Brad signs a written statement granting Carla a gratuitous assignment of his rights from Anita. Brad dies prior to delivering the statement to Carla. - correct answer ✔✔The assignment is terminated upon Brad's death.
Odessa owes Kevin $2,000. On July 1, Kevin assigns the right to the $2,000 to Troy. Thereafter, on July 15, Kevin assigns the same right to Donna, who in good faith gives value for it and knows nothing about the first assignee. a. Troy has the right to the payment of $2,000. b. Donna has the right to the $2,000. c. Neither Troy nor Donna can claim the $2,000. d. The rule differs in different states. Depending on which rule a state follows, the answer will vary. - correct answer ✔✔The rule differs in different states. Depending on which rule a state follows, the answer will vary. Barbara owes Arturo $2,000. On July 1, Arturo assigns the debt to Charles. Thereafter on July 15, Arturo assigns the same right to Dennis, who in good faith gives value for it and knows nothing about the first assignee. Dennis immediately notifies Barbara of the assignment. a. Under all of the rules, Charles has priority since he was the first assignee in time. b. Under the majority rule, Dennis has priority. c. Under the English Rule, Dennis has priority. d. Under the English Rule, Charles has priority. - correct answer ✔✔Under the English Rule, Dennis has priority. Under Section 2-210 of the Code, unless circumstances indicate to the contrary, a contract that prohibits an assignment: a. prohibits both an assignment of rights and a delegation of duties under the contract. b. prohibits only a delegation of the delegator's duty of performance and not the assignment of rights. c. renders any subsequent assignment ineffective. d. Both (a) and (c). - correct answer ✔✔prohibits only a delegation of the delegator's duty of performance and not the assignment of rights. Notice of an assignment: a. must be given to the obligor. b. cuts off any defenses based on subsequent agreements between the obligor and assignor. c. precludes subsequent setoffs and counterclaims of the obligor that arise out of entirely separate matters.
c. supplements and covers all of the UCC. d. covers wills, codicils, and testamentary trusts. - correct answer ✔✔encourages and gives full effect to electronic contracts. Which of the following is an exception to the suretyship provision requirement under the statute of frauds? a. A collateral promise made to the creditor b. A promise, the leading object of which is to obtain an economic benefit for oneself c. A collateral promise where there are three parties and two contracts involved d. A promise by an executor to pay the debts of the decedent from the executor's own funds - correct answer ✔✔A promise, the leading object of which is to obtain an economic benefit for oneself E-Sign provides consumers must: a. evidence their consent on paper to conducting transactions with electronic records after being informed of the types of hardware and software required. b. receive a "clear and conspicuous" statement informing them of their right to withdraw consent to receiving electronic records. c. receive a "clear and conspicuous" statement informing them of their right to have the record provided only in electronic form. d. All of the above. - correct answer ✔✔receive a "clear and conspicuous" statement informing them of their right to withdraw consent to receiving electronic records. What is another name for the main purpose doctrine? - correct answer ✔✔leading object rule Under the parol evidence rule, which of the following types of evidence may be used to vary or contradict the written agreement? a. Prior oral or written agreements b. Contemporaneous oral or written agreements c. Subsequent oral or written agreements modifying the original agreement d. Both (a) and (b). - correct answer ✔✔Subsequent oral or written agreements modifying the original agreement
Under the UCC, a(n) ____ is a sequence of previous conduct between the parties to an agreement which may be fairly regarded as establishing a common basis of understanding for interpreting their conduct under the contract. - correct answer ✔✔course of dealing Under the UCC, ____ refers to the manner and extent to which the respective parties to a contract have accepted successive tenders of performance by the other party without objection. - correct answer ✔✔course of performance Under the UCC, a(n) ____ is a practice or method of dealing, regularly observed and followed in a place or vocation or trade. - correct answer ✔✔usage of trade In determining the meaning of a contract under the UCC, which of the following will have first priority? - correct answer ✔✔express terms --> course of performance --> course of dealings --> usage of trade Which of the following would NOT require a writing under the statute of frauds? a. Where the buyer of a five-acre lot pays the $40,000 purchase price, thus fully performing his obligation b. Where a renter agrees to rent a building for a 5-year period c. Where a contractor enters into an agreement for an easement across adjoining land to run cables d. Where a landscaper agrees to landscape the lot surrounding an office building - correct answer ✔✔Where a landscaper agrees to landscape the lot surrounding an office building Which of the following would not be subject to the writing requirements of Article 2 of the UCC? a. An unborn puppy whose mother is an AKC champion b. Trees that will be cut from a ten-acre tree farm c. Food served in the banquet room of a Florida resort d. Medical care received in a hospital - correct answer ✔✔Medical care received in a hospital E-Sign: a. preempts the Uniform Electronic Transactions Act. b. requires persons to agree to use or accept electronic records or electronic signatures, provided they are informed of the types of hardware and software required and they have the required equipment.
will have to move to California and be ready to start work at 8:00 a.m. on June 15. Should Sara ask for a letter confirming the telephone conversation if she accepts the offer immediately? a. Yes, because the job offer is a collateral promise b. Yes, because the job offer is covered by the parol evidence rule c. Yes, because the job offer is for longer than one year from March 1 d. No, because the job offer is for one year from June 15 - correct answer ✔✔Yes, because the job offer is for longer than one year from March 1 Which of the following would be admissible under the parol evidence rule? Assume the written contract was made on June 1, 2007, and that it is an integrated document. a. A letter dated July 9, 2007, reciting agreement to new delivery terms b. A chart showing the dates for delivery written on August 16, 2006 c. A copy of two letters while the parties were in the negotiation stage of their contract which showed agreement to a term not included in the June 1, 2007 contract d. A copy of common carrier rules on the duty of delivery persons for uncrating merchandise, which is dated December 1, 2003 - correct answer ✔✔A letter dated July 9, 2007, reciting agreement to new delivery terms Barry's Sport Shop calls Champs Tee Shirt Company to order 200 designer tee shirts at $2 per shirt. The next day, Barry decides he can easily sell 100 more. Before the order is filled, he calls to change the order to 300 tee shirts. Champs sends 200. Can Barry force Champs to send the additional 100? a. No, because there is no consideration for the extra 100 shirts b. No, because Barry does not have a writing signed by Champs Tee Shirts c. Yes, because this is a subsequent modification of the original contract d. Yes, because Champs Tee Shirts is a merchant within the meaning of Article 2 of the UCC - correct answer ✔✔No, because Barry does not have a writing signed by Champs Tee Shirts Which of the following is untrue with regard to the interpretation of contracts? a. Express terms prevail over course of performance, and course of performance prevails over course of dealing. b. Technical terms will always be given technical meaning even where a different intent is manifested by the parties. c. Handwritten or typed terms are given greater weight than preprinted terms.
d. All writings that are part of the same transaction are interpreted together. - correct answer ✔✔Technical terms will always be given technical meaning even where a different intent is manifested by the parties. Sam, a shopkeeper, dies unexpectedly at the age of 46. His lifelong business associate, Paul, is appointed the administrator of the estate. Sam had a personal debt of $8,000 which he owed to Art's Appliance Store. Paul says to Art, "If there isn't enough money in the estate, I'll personally see that the bill is paid." Which of the following is correct? - correct answer ✔✔An oral statement such as this is not enforceable because this promise is within the statute of frauds. The statute enacted by Congress which makes electronic records and signatures valid and enforceable for many transactions affecting interstate or foreign commerce is the: a. UETA. b. UCC, Article 2E. c. Electronic Signatures in Global and National Commerce Act. d. Interstate and Foreign Commerce Electronic Transactions Act. - correct answer ✔✔Electronic Signatures in Global and National Commerce Act. Which of the following promises in consideration of marriage would be outside the statute of frauds? a. In consideration of Joan's promising to marry him, a man promises to pay her an allowance and to give her all of his property upon his death. b. John and Mary mutually agree that their marriage shall not affect the existing property rights of the other. c. John and Joan mutually promise to marry each other in a formal ceremony on June 23. d. Joan promises to release a money judgment against Steven in consideration of his marrying her. - correct answer ✔✔John and Joan mutually promise to marry each other in a formal ceremony on June
Under the UCC statute of frauds, which of the following terms must be included in a writing in order to satisfy the writing requirement? a. The price of the goods b. The quantity of the goods c. The signatures and names of the buyer and the seller
court decisions of Rosewood v. Caterpillar - correct answer ✔✔trial court granted summary judgement for Caterpillar Rosewood appealed appellate court reversed and remanded (found for Rosewood) circuit court affirmed appellate court's decision issue of Mackay v. Four Rivers - correct answer ✔✔One Year Provision court decisions of Mackay v. Four Rivers - correct answer ✔✔district court granted summary judgement for Four Rivers vacate district court's decision for further proceedings (for Mackay) issue of Kalas v. Cook - correct answer ✔✔Specially Manufactured Goods court decisions of Kalas v. Cook - correct answer ✔✔trial court found for Kalas Cook appealed judgment affirmed issue of Reiser v. Daytona Country Club - correct answer ✔✔Rights That Aren't Assignable: Personal Rights court decisions of Reiser v. Daytona Country Club - correct answer ✔✔bankruptcy court found rights to be unnassignable due to anti-assignment provision
appeal district court affirms issue of Aldana v. Colonial Palms - correct answer ✔✔Express Prohibition of Assignment court decision of Aldana v. Colonia Palms - correct answer ✔✔trial court granted summary judgment for Colonial Palms and attorney's fees reverse summary judgement (found for Aldana) issue of Mountain Peaks vs. Roth- Steffen - correct answer ✔✔Rights of Assignee court decision of Mt. Peaks v. Roth- Steffen - correct answer ✔✔district court granted summary judgment for Mt. Peaks --> valid assignee and action not time barred issue of Stine v. Stewart - correct answer ✔✔Intended Beneficiary court decision of Stine v. Stewart - correct answer ✔✔bench trial, trial court found that Stine was an intended beneficiary court of appeals reversed (for Stewart) found that Stine is creditor beneficiary --> reverse court of appeals (found for Stine) issue of Silvestri v. Optus - correct answer ✔✔Express Conditions: Satisfaction court decisions of Silvestri v. Optus - correct answer ✔✔trial court granted summary judgement for Optus
