Exam 11: Contracts and Sales: Performance, Remedies, and Rights

Parents of minors can be held liable for the reasonable value of necessaries that their minor children contracted for.

Dana Riley purchased a home in the Brentwood area of Los Angeles. After she purchased the home, she learned that the home had been the residence of a long-time drug dealer. She experienced many late-night visitors and often noticed cars parked outside near the street curb with the drivers and passengers studying the home. The former owner has been convicted of drug charges. Dana has become uncomfortable with the visitors and the surveillance. She just wants out of the house. Which of the following statements is true?

A contract signed at home for the installation of a pool under a 90-days-same as cash agreement is not subject to the 3-day rescission period.

Contracts with illegal subject matter are:

Commercial impracticability and impossibility of performance are essentially the same standard.

Conditions are promise modifiers.

Monique and Seth agree, due to increased fuel charges, that Monique will pay Seth twenty cents more per mile of transportation than in their original contract. This new agreement is called a(n):

Minors are liable for the reasonable value of necessaries.

The wage garnishment limitation for past due child support collection is:

When employees earn commissions as well as a salary, the employees face more of a temptation to engage in misrepresentation.

The three-day-cooling-off period applies to all credit transactions.

Under the FDCPA, collectors identified as such can use postcards to contact debtors.

All contracts have conditions for performance.

The TILA provisions do not apply to commercial loans.

Compensatory damage formulas are provided under the UCC.

The FDCPA is not applicable to the collection of judgments.

Exculpatory clauses are generally considered void as against public policy.

Fraud is misrepresentation with intent to mislead or deceive.

An accord and satisfaction is a void contract.

Angela, age 17, is injured in a car accident and receives $5,200 in medical treatment at the emergency room. The hospital sends a bill to Angela, who signed the admitting form in which she agreed to pay for the treatment. Angela: