1. Ricki goes to a baseball game. The back of her ticket clearly reads: Fan agrees to...
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(a) Can; can
(b) Can; cannot
(c) Cannot; can
(d) Cannot; cannot
2. Kerry finds a big green ring in the street. She shows it to Leroy, who says, “Wow. That could be valuable.” Neither Kerry nor Leroy knows what the ring is made of or whether it is valuable. Kerry sells the ring to Leroy for $100, saying, “Don’t come griping if it turns out to be worth two dollars.” Leroy takes the ring to a jeweler who tells him it is an unusually perfect emerald, worth at least $75,000. Kerry sues to rescind.
(a) Kerry will win based on fraud.
(b) Kerry will win based on mutual mistake.
(c) Kerry will win based on unilateral mistake.
(d) Kerry will lose.
3. Two individuals signed a contract that was intended to be their entire agreement. The parol evidence rule will prevent the admission of evidence offered to:
(a) Explain the meaning of an ambiguity in the written contract
(b) Establish that fraud had been committed in the formation of the contract
(c) Prove the existence of a contemporaneous oral agreement modifying the contract
(d) Prove the existence of a subsequent oral agreement modifying the contract
4. Raul wants to plant a garden, and he agrees to buy a small piece of land for $300. Later, he agrees to buy a table for $300. Neither agreement is put in writing. The agreement to buy the land ____________ enforceable, and the agreement to buy the table ____________ enforceable.
(a) Is; is
(b) Is; is not
(c) Is not; is
(d) Is not; is not
5. In December 2012, Eric hires a band to play at a huge graduation party he is planning to hold in May, 2014. The deal is never put into writing. In January 2014, if he wanted to cancel the job, Eric _____________ be able to do so. If he does not cancel, and if the band shows up and plays at the party in May, 2014. Eric ______________ have to pay them.
(a) Will; will
(b) Will; will not
(c) Will not; will
(d) Will not; will not
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