I. On April 1, Mike, a rap star, contacted Sam, for the purpose of leasing Sam's...
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I. On April 1, Mike, a rap star, contacted Sam, for the purpose of leasing Sam's house to be used as a recording studio. Sam showed Mike the house. Statement #1: Mike told Sam that he needed the house for a recording studio. Statement #2: Sam told Mike that the electrical system was adequate to support a recording studio. Statement #3: Mike said that he would lease the house for six months on June 1 for $150,000. Statement #4: Sam said $250,000. Statement #5: Mike said $200,000. Statement #6: Sam said OK. ANSWER QUESTIONS 31 THRU 77 BASED UPON THE FOLLOWING FACTS II. On April 1, Owner made a contract with a contractor, an electrical contractor, to do electrical work on Owner's hotel for $1 million. A clause in the contract stated that for each day that the work was not completed, Contractor would be liable for $10,000.00 per day. The contract provided that the work be done by June 1. QUESTION 66 All contracts must contain a Force Majeure Clause. ● True ● False QUESTION 67 Owner can force Contractor to arbitrate the case. ● True ● False QUESTION 68 Contractor can force Owner to arbitrate the case. ● True ● False QUESTION 69 At arbitration, there is a judge and jury. ● True ● False QUESTION 70 Case are often submitted to arbitration because a clause in the contract between the parties. ● True ● False I. On April 1, Mike, a rap star, contacted Sam, for the purpose of leasing Sam's house to be used as a recording studio. Sam showed Mike the house. Statement #1: Mike told Sam that he needed the house for a recording studio. Statement #2: Sam told Mike that the electrical system was adequate to support a recording studio. Statement #3: Mike said that he would lease the house for six months on June 1 for $150,000. Statement #4: Sam said $250,000. Statement #5: Mike said $200,000. Statement #6: Sam said OK. ANSWER QUESTIONS 31 THRU 77 BASED UPON THE FOLLOWING FACTS II. On April 1, Owner made a contract with a contractor, an electrical contractor, to do electrical work on Owner's hotel for $1 million. A clause in the contract stated that for each day that the work was not completed, Contractor would be liable for $10,000.00 per day. The contract provided that the work be done by June 1. QUESTION 66 All contracts must contain a Force Majeure Clause. ● True ● False QUESTION 67 Owner can force Contractor to arbitrate the case. ● True ● False QUESTION 68 Contractor can force Owner to arbitrate the case. ● True ● False QUESTION 69 At arbitration, there is a judge and jury. ● True ● False QUESTION 70 Case are often submitted to arbitration because a clause in the contract between the parties. ● True ● False
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The detailed answer for the above question is provided below ANSWER Here are the answers to the questions you requested QUESTION 31 Mike told Sam that he needed the house for a recording studio TRUE Q... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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