Questions 1-3 are based on the following fact pattern:

The Old BLG being of sound mind and having all his mental faculties, finally decides to ditch teaching Business Law because the 99th Edition Legal Environment of Business by Cheeseman, it is just too heavy to carry around campus every Monday night and the 100th Edition is even heavier. Instead, he decides to follow his dream - painting the Golden Gate Bridge in rainbow tie-dye colors in the memory of his hero, the late-great Grateful Dead guitarist, Jerry Garcia. He expects that the job could take a year, but much longer if he hires Deadheads to help him paint it. On August 1st, (Jerry's birthday) the Professor enters into an oral contract with the Golden Gate Bridge District to tie-dye the bridge in rainbow colors. The Bridge District in turn tells your favorite professor that it will pay him $100,000 plus 5,000 pints of Ben and Jerry's "Cherry Garcia" ice cream when he finishes the painting. The ice cream is valued at $15,000.

1. The agreement between the professor and Bridge District is a(n):

a. Bilateral agreement.

b. Express contract.

c. Unilateral agreement.

d. Implied-in-law contract.

e. A and B.

ANSWER: __________

2. On August 9th (the anniversary of Jerry's death) of the following year, the Bridge District attempts to rescind the contract arguing that it is procedurally defective. On what grounds might the Bridge District reasonably prevail:

a. The oral contract is unenforceable because it is highly unlikely that the professor could paint the bridge in less than one year.

b. The oral contract is unenforceable under the sale of goods provision of the statute of frauds

c. The oral contract violates the statutory guaranty provision of the statute of frauds.

d. Failure of consideration.

ANSWER: __________

3. Assuming that all the other elements of fraud are met, which of the following statements if made by the old professor and proven false, could be used to support a fraud claim?

a. "I'll use a kryptonite base paint that is absolutely impenetrable to the elements."

b. "Before becoming a bridge painter I was a house painter"

c. "Within ten years, you'll be able to charge $10.00 to cross this bridge."

d. "People will flock to see the tie dyed bridge for years to come."

e. "This paint should be able to withstand any wind the Pacific Ocean can dish out."

ANSWER: __________