Questions from Business Law


Q: Poulakis sold a computer using fraudulent means to Welson, who paid

Poulakis sold a computer using fraudulent means to Welson, who paid for the machine with a promissory note for $1,200. When Welson discovered the fraud, she refused to honor the note when it was prese...

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Q: Locke gave two promissory notes to Consumer Food Inc. in payment

Locke gave two promissory notes to Consumer Food Inc. in payment for merchandise he purchased. The notes said, “Buyer agreed to pay to seller.” Consumer Food assigned the notes to Aetna Acceptance Cor...

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Q: Gentilotti, father of an illegitimate son, drew a check for

Gentilotti, father of an illegitimate son, drew a check for $20,000 in 1969 payable to the son’s order. The check was dated July 1, 1985, but provided on the face of the check that, should Gentilotti...

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Q: Bryer purchased a suburban home. At the time of the sale

Bryer purchased a suburban home. At the time of the sale, the real estate salesperson pointed to a decorative stone fence as the boundary of the property. Because Bryer had several dogs he wanted to k...

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Q: Rae owned a farm and each summer allowed a neighbor, Fuller

Rae owned a farm and each summer allowed a neighbor, Fuller, to set up a stand on Rae’s property to sell worms to people who drove by on their way to fish in the nearby lake. After 10 years of regular...

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Q: Explain the three characteristics of valid consideration and provide an example of

Explain the three characteristics of valid consideration and provide an example of an agreement having these characteristics.

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Q: Paset, a renter of a safety deposit box at Old Orchard

Paset, a renter of a safety deposit box at Old Orchard Bank and Trust Company, found $6,325 in currency on the seat of a chair in an examination booth in the safety deposit vault. The chair was partia...

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Q: Wall parked his car in the parking lot at O’Hare Airport in

Wall parked his car in the parking lot at O’Hare Airport in Chicago. After he received a parking ticket from a ticket-dispensing machine, an automatic gate was raised and he entered the lot and parked...

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Q: Noble, a resident of Washington, D.C., ordered

Noble, a resident of Washington, D.C., ordered a stereo tuner from a store in Maine. The unit was shipped and was received by McLean, the receptionist/ switchboard operator in Noble’s apartment buildi...

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Q: Gilder entered a parking garage enclosed within the Washington Hilton Hotel,

Gilder entered a parking garage enclosed within the Washington Hilton Hotel, where he was directed to a parking space by an attendant. Some of the spaces were designated for park-and-lock and others w...

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