Homework Assigned May 26, 2012 (Chapters 10 and 11)

100 pts
Due prior to class Wednesday May 30, 2012
You must put ONLY your PIN number on your answers. 10 questions, 10 pts
each.
1.
Jennifer offered to sell her guitar to Shawna for $300. Is Jennifers an offer
for a unilateral contract or a bilateral contract?
a.
unilateral
b.
bilateral
2.
Continuing from #1 above, Shawna responds by saying that she wont pay
$300, but she will buy Jennifers guitar for $250. Jennifer says no. If Shawna calls
Jennifer an hour later and tells Jennifer that she will pay $300 after all, is Jennifer
obligated to sell Shawna the guitar for $300?
a.
yes
b.
no
3. Richard offers to paint the exterior of Tyrones home for $5,000 and Tyrone
accepts. Is this contract covered by common law or the UCC?
a. Common law
b. UCC
4. Mickey, a wholesaler of hats, agrees to sell 1,000 Giants baseball caps to
Donald, a retailer of hats, with delivery of the caps to be in 14 days. Donald
agrees. No price has been set. Has a contract been formed?
a. Yes
b. No
5.
Helen offers to build a sunroom addition to Maureens house for $20,000.
Maureen agrees to the price but adds a term that says Helen will also put a small
patio outside the sunroom door. 12 days have passed, and Helen has not yet
responded about the small patio. Is there a contract?
a.
Yes, and the small patio is a part of the contract.
b.
Yes, but the small patio is not a part of the contract.
c.
No
6.
Ray is hiking in the woods when he happens upon John, who has broken his
glasses, cant see without his glasses, and is hopelessly lost. Ray leads John to
safety. Expressing extreme gratitude, John tells Ray he will send him $100 for his

efforts as soon as gets home. The money never arrives and Ray sues John for the
$100. Will Ray win?
a. Yes
b. No
7.
Ginger emails the clerk at the XYZ store for a price quote on potatoes. The
clerk emails back that potatoes are priced at 50 cents a pound. Does the clerks
email constitute an offer to sell Ginger potatoes at 50 cents a pound?
a. Yes
b. No
8.
George has just been mugged. The thief took Georges wallet. George sees
the thief having coffee at Starbucks! George flags down a police officer and asks
for help, and the police officer says Im kind of busy right now, but if you agree
to pay me $50 if I catch the thief and get your wallet back, I will go ahead and help
you. George knows he had over $200 in his wallet, so he quickly agrees. The
police officer grabs the thief, cuffs him, and ultimately Georges wallet is
recovered. The police officer reminds George he owes him $50, and George says
no, Im not paying you. If the police officer sues George for the $50, will George
be ordered to pay the $50 to the police officer?
a. Yes
b. No
9.
Does an agreement to modify a contract under the common law require
additional consideration to be valid?
c. Yes
d. No
10. Sarahs neighbor, Sam, who is unemployed, notices that Sarahs lawn needs
mowing. Without Sarah knowing, Sam mows Sarahs lawn one day while Sarah is
at work. Sarah gets home from work and is surprised and delighted. She thanks
Sam and tells him that she is so pleased she will give him $35 at the end of the
week. The end of the week comes and goes. The following week, Sam asks Sarah
for the $35, reminding her he could really use it because hes unemployed. Sarah
says shes changed her mind and isnt going to pay him. If Sam sues Sarah for $35,
who is likely to win?
a.
Sam
b.
Sarah