SOLVED

[Garage Sale] While cleaning out his garage, Ezra offers to sell Mia a used computer for $200. Mia replies, “I’ll think about it and buy it if I decide to do so.” Ezra also calls Irina and offers to sell Irina a used business law book for $50. She asks if she can clean his apartment in exchange for the book, instead of paying cash, and he agrees. Ezra also agrees to sell a communications book for $5 to Tam, who promises to pick it up the next day. Meanwhile, Diego comes to visit and offers Ezra $45 for the business law book. Ezra sells it to him because he decides his apartment is clean enough. Diego also offers Ezra $50 for the used computer. Ezra sells it to Diego because he does not expect to hear from Mia. Diego sees the communications book and offers Ezra $45 for it. Ezra decides to forget about Tam and proceeds to sell the book to Diego for $45. The next day Irina shows up to clean Ezra’s apartment and is very angry because Ezra did not save the book for her. Irina claims that Ezra breached their contract because they had a deal. Ezra says that they never had a deal because no consideration was present. He also says that even if cleaning house would be considered consideration, any housekeeping done would have been wholly inadequate to support receipt of the book because his house was already clean. Tam is also angry because Ezra sold the communications book, and informs him that he breached the contract he had with her. Ezra tells her that he had no obligation to hold the book for her because they had a unilateral contract. Two days after they first spoke, Mia tells Ezra that she would like the computer. She tells him that her response bound him and that he should have awaited her action. Ezra tells Diego that he needs to return everything for a full refund. Diego refuses. 71) Which of the following is true regarding Ezra’s claim concerning the inadequacy of house cleaning as consideration? A) Ezra is correct because cleaning house would not constitute a benefit to the promisor. B) Ezra is correct because cleaning house would not constitute a detriment to the promisee. C) Ezra is incorrect because house cleaning can constitute consideration that would support a contract, and the court would not likely be concerned with the fact that the cleaning duties would be light. D) Although, contrary to Ezra’s assertion, house cleaning can be consideration, it was not in this case, as his apartment was already fairly clean. E) Ezra is correct because Irina had only promised, but had not actually performed. 72) Which of the following is true regarding Tam’s claim that by selling the communications book for a higher price, Ezra breached the contract he had with her? A) Tam is correct. B) Tam is incorrect because the amount she agreed to pay was significantly less than the fair market value of the book and, therefore, did not amount to consideration. C) Tam is correct only if she can establish that she had prior dealings with Ezra. D) Tam is correct only if she can establish that she had provided past consideration in addition to the amount she agreed to pay for the book. E) Tam is incorrect because her acceptance was illusory. 73) Which of the following is true regarding the dispute between Ezra and Diego regarding whether Diego must return anything? A) Diego must return only the communications book. B) Diego must return only the computer. C) Diego does not legally have to return anything. D) Diego must return the computer, the business law book, and the communications book. E) Diego must return only the business law book. [Bank Robbery] Safe Bank was robbed of a significant sum of cash by a robber later identified as Victor Victory. Safe Bank offered a reward of $10,000 to anyone who captured or provided information leading to the capture of Victor. Kareem, a police officer in town, promised Safe Bank officials that he would apprehend Victor. While on duty, Kareem arrested Victor at a restaurant in town. He found Victor after Ursula, Victor’s girlfriend, told Kareem about various places Victor enjoyed eating. The bank refuses to pay either Ursula or Kareem any of the reward money. 74) Which of the following is true regarding the offer of the reward? A) It pertained to a unilateral contract that could be accepted with consideration consisting of a promise. B) It pertained to a bilateral contract that could be accepted only with consideration consisting of a promise. C) It pertained to a bilateral contract that could be accepted with consideration consisting of a promise or performance. D) It pertained to a unilateral contract that could be accepted with consideration consisting of performance. E) It pertained to a bilateral contract that could be accepted only with consideration consisting of performance. 75) In a lawsuit between the bank and Kareem regarding the reward funds, who is likely to prevail and why? A) The bank is likely to prevail because Kareem’s promise to catch Victor was illusory. B) The bank is likely to prevail because Kareem had a preexisting duty to catch Victor. C) Kareem is likely to prevail because his promise to catch Victor resulted in a binding bilateral contract. D) The bank is likely to prevail because Kareem only provided past consideration. E) Kareem is likely to prevail because an enforceable unilateral contract exists based on his performance. Â Â