Question

42)

Putin from Georgia purchases premium cigars from Castro's Smoke House in Miami. The sales contract says delivery is Miami. Under Article 2 of the UCC, this is a

Select one:

a. a carrier contract.

b. a destination contract.

c. a letter of credit.

d. a shipment contract.

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43)

Godzilla offers to purchase all of the bananas that Farmer Budd grows. This is

Select one:

a. An output contract.

b. An option contract.

c. Not allowed because there is no consideration supporting the offer.

d. A requirement contract.

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48)

Dr. Rinke is a jeweler with a PhD in fine arts. As a favor to his friend Bette, he appraises her diamond ring for $1500 then buys it from her. In fact, he knew the jewelry is worth $15,000,000. Which of the following is true?

Select one:

a.
The court does not care about the adequacy of consideration that Bette received.

c.
The court might find that Bette received “shockingly inadequate” consideration and review the contract for fraud.

d.
Bette can do nothing because she had freedom to contract.

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52)

MicroCorp hires Nick to work for one month at a weekly salary of $400. A MicroCorp representative orally agrees two weeks later to double Nick’s salary. This agreement is

Select one:

b. unenforceable because Nick has incurred no additional detriment in exchange for MicroCorp’s promise.

c. unenforceable because an employment contract is an adhesion contract.

d. enforceable because the terms are not sufficiently definite.

Answer 1

As we know that Destination contracts specify the buyer's destination as the point where seller's obligation to deliver is complete. At that point, all risk of loss passes to the buyer. Alternatively, under a shipment contract, the seller's obligation is complete when he passes the goods to the common carrier for delivery.

42). The correct option is (b).

Destination contract.

43). The correct option is (d).

Requirement contract.

A requirements contract is a contract in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exclusively from the first party.

48). The correct option is (c).

The court might find that Bette received “shockingly inadequate” consideration and review the contract for fraud.

They have purchased the ring ny fraud means at low price than it costs.

52). The correct option is (b).

unenforceable because Nick has incurred no additional detriment in exchange for MicroCorp's promise.

This aggrement is not enforceable because nick has not incurred additional detriment in exchange for Microcorp's promise.

Hope you got the answer.

Kindly comment for further explanation.

Thanks!