Exam 9: Introduction to Contracts

On Monday,Neil tells Outdoor Landscaping,Inc.,that he will pay Outdoor $500 if a variety of tasks are completed by Friday.On Wednesday,when Outdoor is more than half done with the work,Neil says that he has changed his mind.These parties had​ 

Cellphones & Calltime,Inc.,makes an offer to Delores to enter into a contract to work as a salesperson for a certain base salary plus commission for ninety days subject to a one-year renewal based on her performance.Delores accepts the offer.A valid contract requires​ 

Ed,a businessperson,is a friend of Fran,the owner of a Percolated Coffee & Baked Goods store.Every day,Ed spends five minutes in Fran's store,looking at the goods and usually buying one or two cinnamon buns or bagels.One afternoon,Ed goes into the store,looks at the items,and picks up a $1 chocolate brownie.Ed waves the brownie at Fran without saying a word and walks out.Is there a contract? If so,how would it be classified in terms of formation,performance,and enforceability?​

Bobbie claims that Carly breached their contract.Carly responds that she never intended to enter into a contract with Bobbie.The intent to enter into a contract is determined with reference to​ 

Sunny enters into a contract with Trey to act as his personal sports trainer.If a dispute later arises and the contract contains unclear terms,the rules of contract interpretation will give effect to​ 

An offeree is a person who makes an offer. 

A letter-of-credit agreement between Rural Feed Corporation and Soybean Farms,Inc.,requires Rural Feed's bank to pay Soybean Farms on receipt of invoices.This letter of credit is​ 

All contracts must be in writing to be enforceable. 

Francie drives into Gage's Auto Service and asks Hong,a Gage's employee,to replace a tire on Francie's car.After Hong replaces the tire,but before Francie pays for it,any contract between Francie and Gage's is​ 

Wilson buys a lottery ticket at his local gas station.Wilson has accepted an offer for​ 

Peter offers to pay Quik Delivery (QD)$50 if it picks up and delivers to him a package of business documents from Rico within 30 minutes.QD can accept the offer only by meeting the deadline.If QD performs as directed,these parties will have​ 

If a contractual promise is not fulfilled,the person who made it may be required to perform the promised act. 

Jack promises to buy Lizette's used textbook for $60.Jack is​ 

Tania promises to buy Saki's handheld game-player for $40.Saki is​ 

Sales Marketing Corporation and Tech Support,Inc.,negotiate a contract.If the contract has all of the elements necessary for one of the parties to enforce it in court,it is​ 

Rough Water Fishing Trips,LLC,and Schafer enter into a contract for the delivery of a used freshwater fishing boat.Until the goods are delivered and paid for,these parties have​ 

Some promises are not legally binding. 

One of the four requirements of a valid contract is an adequate price. 

When a rainstorm erupts outside Rita's Souvenir & Gift Shop,Rita and Shaw enter into an implied contract to split the revenue from Shaw's sale of umbrellas to Rita's customers.The terms of this contract are defined by​ 

Jim tells Dana that he will take her out to lunch on Thursday.Jim has made Dana​