Questions from Business Law

Q: On May 1, by telephone, Yu offers to hire Benson

On May 1, by telephone, Yu offers to hire Benson to perform personal services. On May 5, Benson returns Yu’s call and accepts the offer. Discuss fully whether this contract falls under the Statute of...

Q: Mallory promises a local hardware store that she will pay for a

Mallory promises a local hardware store that she will pay for a lawn mower that her brother is purchasing on credit if the brother fails to pay the debt. Must this promise be in writing to be enforcea...

Q: This chapter discussed a number of sources of American law. Which

This chapter discussed a number of sources of American law. Which source of law takes priority in the following situations, and why? (a) A federal statute conflicts with the U.S. Constitution. (b) A f...

Q: Five years ago, Hensley purchased a house. At that time

Five years ago, Hensley purchased a house. At that time, being unable to pay the full purchase price, she borrowed funds from Thrift Savings and Loan, which in turn took a mortgage at 6.5 percent inte...

Q: Marsala, a college student, signs a one year lease agreement

Marsala, a college student, signs a one year lease agreement that runs from September 1 to August 31. The lease agreement specifies that the lease cannot be assigned without the landlord’s consent. In...

Q: Winona contracted with XtremeCast, a broadcast media firm, to cohost

Winona contracted with XtremeCast, a broadcast media firm, to cohost an Internet-streaming sports program. Winona and XtremeCast signed a new contract for each episode. In each contract, Winona agreed...

Q: Discuss whether either of the following contracts will be unenforceable on the

Discuss whether either of the following contracts will be unenforceable on the ground that voluntary consent is lacking: (a) Simmons finds a stone in his pasture that he believes to be quartz. Jenson,...

Q: The Caplans contract with Faithful Construction, Inc., to build a

The Caplans contract with Faithful Construction, Inc., to build a house for them for $360,000. The specifications state “all plumbing bowls and fixtures to be Crane brand.” The Caplans leave on vacati...

Q: Junior owes creditor Iba $1,000, which is due

Junior owes creditor Iba $1,000, which is due and payable on June 1. Junior has been in a car accident, has missed a great deal of work, and consequently will not have the funds on June 1. Junior’s fa...

Q: Cohen contracts to sell his house and lot to Windsor for $

Cohen contracts to sell his house and lot to Windsor for $100,000. The terms of the contract call for Windsor to pay 10 percent of the purchase price as a down payment. The terms further stipulate tha...