Notes for Final Paper
LAW 421 - QUIZ 3
CONTRACTS AND AGENCY
Save this quiz on your computer and work on it during the remainder of the week. Make sure to save your results each time you make a change as well as save the quiz with your final answers. There are 25 multiple-choice questions. Identify the letter of the choice that best answers the question. When you are sure that you have answered all the questions to the best of your ability, mark your answers on the Answer Sheet provided.
Click the Assignment Files tab to submit your assignment.
Do not change the font and do not put in any punctuation or other marks in the answer sheet; put only the letter choice of your answer. Also, do not put any spaces before or after the letter you enter as your answer. Be sure to turn off the automatic completion function of cell entries.
On the Tools menu, click Options, and then click the Edit tab. Clear the Enable
AutoComplete for cell values check box.
Please put only your last name on the Answer Sheet in the by writing it in the yellow space.
_________________________________________________________________________
1. With regard to the court, adequacy of consideration means:
A. The court will adjust the consideration if the value exchanged is unfair.
B. The consideration exchanged must be exactly equal in value.
C. The court doesn't care about value as long as the mutual assent is valid.
D. The consideration exchanged must be reasonably close in value.
2. Bill gets many speeding tickets. His friend Ron told Bill that he would pay Bill $300 if he did not get a ticket for one year. Bill drove very cautiously for the next year and did not get a ticket. Is Ron obligated to pay?
A. Yes, because Bill gave up a legal right based on the agreement.
B. No, because $300 is not an adequate amount based on Bill's detriment.
C. Yes, because a promise is a promise and consideration has nothing to do with this agreement.
D. No, because Bill suffered no
CONTRACTS AND AGENCY
Save this quiz on your computer and work on it during the remainder of the week. Make sure to save your results each time you make a change as well as save the quiz with your final answers. There are 25 multiple-choice questions. Identify the letter of the choice that best answers the question. When you are sure that you have answered all the questions to the best of your ability, mark your answers on the Answer Sheet provided.
Click the Assignment Files tab to submit your assignment.
Do not change the font and do not put in any punctuation or other marks in the answer sheet; put only the letter choice of your answer. Also, do not put any spaces before or after the letter you enter as your answer. Be sure to turn off the automatic completion function of cell entries.
On the Tools menu, click Options, and then click the Edit tab. Clear the Enable
AutoComplete for cell values check box.
Please put only your last name on the Answer Sheet in the by writing it in the yellow space.
_________________________________________________________________________
1. With regard to the court, adequacy of consideration means:
A. The court will adjust the consideration if the value exchanged is unfair.
B. The consideration exchanged must be exactly equal in value.
C. The court doesn't care about value as long as the mutual assent is valid.
D. The consideration exchanged must be reasonably close in value.
2. Bill gets many speeding tickets. His friend Ron told Bill that he would pay Bill $300 if he did not get a ticket for one year. Bill drove very cautiously for the next year and did not get a ticket. Is Ron obligated to pay?
A. Yes, because Bill gave up a legal right based on the agreement.
B. No, because $300 is not an adequate amount based on Bill's detriment.
C. Yes, because a promise is a promise and consideration has nothing to do with this agreement.
D. No, because Bill suffered no