Question

13) Moderately-Happy Pizza Company promises its employees a 10% raise at the end of the year if profits increase and management feels the raise is warranted. Moderately-Happy

a. does need to give the raise if profits increases even by 1/10 of a percent.

b. does need to give the raise if, at any time during the year, management felt like it.

c. does not need to give the raise because the promise to do so was illusory.

14). Tom Izzo purchases 500 basketballs from Sports Emporium, delivery on June 1. On May 15, Izzo received 500 baseballs. Under Article 2 of the UCC, which of the following is true?

a.
Sports Emporium may cure any time before June 1.

b. Sports Emporium may cure any time, even after June 1.

c.
Sports Emporium breached the contract only if Izzo rejects the baseballs.

d.
Sports Emporium breached the contract and is liable for damages.

d. does not need to give the raise because everyone knows the pizza is lousy and profits will never increase.

15). Merchant Mart tenders delivery of 4 kitchen chairs to Esmeralda. Under Article 2 of the UCC, this means

a. Merchat Mart accepted payment for the chairs.

b. Merchant Mart made the goods available for Esmeralda to pick up from the store.

c. Esmeralda tried to return the chairs despite Merchant Mart's 'no refund' policy.

d. Merchant Mart delivered the chairs to Esmeralda's home.

16). Ivanka promises to pay her daughter Donna $15,000 if she obtains her degree at Ivy League University, where she is currently in her second year, instead of dropping out and becoming a barista. Donna graduates but Ivanka refuses to pay. Which of the following is true?

a. Ivanka is not required to pay because Donna was already a student at Ivy League.

b. Ivanka is required to pay if Donna relied on her promise and obtained a degree at Ivy League.

c. IIvanka is required to pay because a job can be hard to find after college.

d. Ivanka is not required to pay because obtaining a degree benefits Donna.

17) Linda and Dena ride to school each day in Dena’s new automobile. One cold morning when the car doesn’t start. Dena yells in anger, “I’ll sell this car to anyone for $500!” Linda drops $500 on Dena’s lap. Which of the following is true?

a.
Linda’s acceptance was serious, and she and Dena now have a contract.

b.
Dena’s offer was serious, and she and Linda now have a contract.

c.
A reasonable person would find that consideration was (the car is worth far more than $500).

d.
A reasonable person would find that Dena did not make a serious offer to sell her car.

Answer 1

13. The management gives a raise at the end of the year only if it feels that raise is warranted. It will only give the raise if it feels like, otherwise not. Therefore, the promise of the raise is illussiory. The correct option is c.

14. Sports emporium had contracted that the 500 baseballs will be delivered on 1st June. So, the arrangements for storage of baseballs may not have been made by 15th of May. Therefore, if he rejects the delivery on 15th may, there us a breach of contract by the company. The correct option is c.

15. The tendering of delivery of the chairs means that it is available for picking up by the customer. The correct option is b.

16. As Ivanka has promised Donna to pay $15000 If she graduates, and Donna got the degree relying on the promise. If she doesn't pay after Donna graduates, it would be a breach of contract. Therefore, she needs to pay. The correct option is b.

17. The correct option is d.