SOLVED

[Book Sale] Yasmeen offered to sell Dylan a used business law book for $50. She told him that he could use it in his upcoming business law class the next semester. However, there was a problem with the book; it was several editions old. Dylan was not aware of that fact, and neither was Yasmeen. When Dylan took the book to class and realized the problem, he went back to Yasmeen requesting a refund. Yasmeen refused to return his money. She claimed that she did not commit fraud because subjectively she thought that the book was correct, and that a binding contract existed. The book, however, is outdated and cannot be appropriately used in the class. 61) Which of the following terms refers to the $50 to be provided by Dylan and the book to be provided by Yasmeen? A) Encouragement B) Consideration C) Material D) Provisions E) Inducement 62) Which of the following is true regarding Yasmeen’s claim that she subjectively believed the book was an appropriate edition and that an enforceable contract, therefore, existed? A) She is correct because agreements for the sale of goods are based on a subjective theory. B) She is correct because contract law is based upon a subjective theory of contracts. C) She is correct because her genuinely held belief establishes that she did not commit fraud. D) She is incorrect because her subjective belief would not be the basis for a determination of whether the contract would be enforced in this case and also because fraud is not necessary in order to find a breach of contract. E) She is correct but only if Dylan subjectively believed the same as she did. 63) Which analysis of the effect of the discovery that Dylan has a book that is not appropriate for the class would be correct? A) Dylan is stuck with the book because Yasmeen subjectively thought it was the correct book, and Dylan did not openly disagree before the contract was executed. B) Dylan is stuck with the book because Yasmeen did not commit fraud. C) Because the parties had a mutual misunderstanding, the parties did not come to a meeting of the minds, and there is no contract. D) Because both parties were mistaken, at Dylan’s option he may return the book; but only half of the purchase price would be required as a refund from Yasmeen because she is not guilty of fraud. E) Dylan is stuck with the book because he objectively agreed to purchase it. [Refusal to Pay] Business law teacher Allison needed some yard work done. She told her class that she would give $50 to the first person who mowed her yard. She also entered into an agreement with Karina who agreed to trim some shrubbery for $40. Another student, Brendan went to mow Allison’s yard. Unfortunately, just as he finished mowing, a neighborhood dog bit him, and he had to go to the emergency room for a couple of stitches. Allison refused to pay Brendan because she said that he had upset the neighbors and their dog, and that he was more trouble than he was worth. Secretly, Allison was glad about the dog bite because she felt it gave her a reason not to pay. Brendan refused to pay the emergency room because he said that they did not have a binding, bilateral contract. Karina refused to trim the shrubbery because she got a better offer and claimed that she was not bound on the contract until she started the work. 64) Which of the following is correct regarding Karina’s statement that there was no contract? A) Karina is incorrect because there was a bilateral, implied agreement. B) Karina is correct. There was no contract because she had not started working. C) Karina is incorrect because there was a unilateral, implied agreement. D) Karina is incorrect because there was a bilateral, express agreement. E) Karina is incorrect because there was a unilateral, express agreement. 65) Which of the following is a correct description of the agreement between Allison and Brendan? A) They had a unilateral, implied agreement. B) They had a bilateral, implied agreement. C) They had a bilateral and unilateral agreement. D) They had a bilateral, express agreement. E) They had a unilateral, express agreement. Â Â