Thank you in advanced.

Question 1 5 points Save Answer If what is written in a contract is clear, a court will enforce the contract according to its obvious terms. O True False Question 2 5 points Save Answer Attempts to modify a will after death are allowed. True False Question 3 5 points Save Answer Housing Development, LP, is a limited partnership that invests in residential real estate projects. Its limited partners include more than 150 sophisticated investors and investment professionals. A limited partner risks losing his or her limited liability if he or she a. votes to sell or dissolve the firm. b.invests in a project that the firm has declined. C. does not participate in the firm's management. od participates in the firm's management. Question 4 5 points Save Answer Bob wants to sell his recreational vehicle (RV) for $21,000. He e-mails Curt with an offer, but mistakenly types that the price is $20.100. Curt accepts the offer and pays Bob $20.100. Bob O a.can avoid the deal due to a mistake of value. b.can avoid the deal due to a unilateral mistake. OC.must deliver the RV. O d.can avoid the deal due to a bilateral mistake. Question 5 5 points Save Answer For a contract to be valid and enforceable, it must be formed for O a any purpose, whether or not the purpose is legal. b. a financially beneficial purpose. OC. any purpose or no purpose, legal or otherwise. od. a legal purpose. Question 6 5 points Save Answer Rosa, a seventeen-year-old, signs a contract to sell her car to Stan. Later, Rosa decides not to sell the car. Rosa is liable to Stan for a. the value of her performance under the contract b. the amount of the buyer's profit on the deal. c. the cost of a car of comparable value. O d. nothing Question 7 5 points Save Answer Freight Dispatch Corporation is a distribution company. Like most corporations. Freight's employees include its a directors. b.officers. OC. none of the choices. d. incorporators. Question 8 5 points Save Answer Kim promises to pay Leo $500 to install a sump pump in Kim's warehouse. Leo completes the installation. The act of installing the pump a. imposes no obligation on Kim unless she is satisfied with the job. b. is the consideration that creates Kim's obligation to pay Leo. OC. is not sufficient consideration because it is not goods or money. O d. imposes a moral obligation on Kim to pay Leo. Question 9 5 points Save Answer Simone offers Tom a dozen piano lessons for a certain price per lesson but conditions the deal on Tom accepting the offer by April 1. Simone may revoke the offer a. only after Tom accepts it. b.only after April 1. c. before Tom accepts it. d. before April 1, whether or not Tom has accepted it. Question 10 5 points Save Answer Reed agrees to sell his Sports Equipment store to Taylor. As part of the sale, Reed promises not to open a similar, competing store anywhere. This promise is most likely O a invalid because of the unreasonable terms of area and time. b. invalid because it is part of a sale of an ongoing business. OC. valid because it is part of a sale of an ongoing business. O d. valid if both parties are justifiably ignorant of the facts. Question 11 10 points Save Answer On December 1, Petroleum, Inc., sent Rachel & Rico (R&R) a letter, via overnight delivery, offering to employ R&R to review Petroleum's tax situation for the current year for $10,000. In the letter, the company stated that R&R had ten days to accept. On December 5, R&R sent an e-mail message that stated. The price for the tax analysis seems too low. Would you consider paying $15,000?" Petroleum received the message without responding immediately. The next day, Smith & Taylor, an R&R competitor, offered to conduct the appraisal for $8.000. On learning of this offer, R&R immediately e-mailed Petroleum, agreeing to do the work for $10,000. Petroleum received this message on December 7. Explain why R&R and Petroleum do, or do not, have a contract. TT T Arial - 3 (12pt) - T - - E- 's Path:p Words:0 Question 12 10 points Save Answer AstroStar, Inc.'s board of directors consists of three membersEckhart, Dolan, and Macero. At a regular board meeting, the board selects Galiard as president of the corporation. Later, an audit reveals that during his term as president he has openly embezzled $500,000 from AstroStar. The same audit reveals that the board knew when it selected Galiard that he had been previously convicted of embezzlement. Can the corporation hold directors Eckhart, Dolan, and Macero personally liable? TTT Arial -3 (12pt) - T - - - - O's Path:p Words:0