SOLVED

16) Which of the following was the result on appeal in the Case Opener involving the alleged breach of an oral contract based on the plaintiff lawyer loaning a corporate client funds and the client later reneging on a promise, made in gratitude, to give the lawyer three percent of the company’s stock? A) That the promise was not enforceable because it was a gift. B) That the promise to transfer the stock flowed from the loan transaction and was enforceable by the plaintiff. C) That the promise was enforceable as a gift. D) That the promise was unenforceable because lawyers may not loan clients money. E) That the promise was enforceable only if the total the plaintiff received in funds did not violate state usury laws involving maximum interest rates. 17) Which of the following was the result on appeal in Thelma Agnes Smith v. David Phillip Riley, the case in the text in which the plaintiff who had lived with the defendant out of wedlock for several years sought to enforce two agreements regarding the sale and assignment of property to her after the couple broke up? A) The court ruled in favor of the plaintiff on the basis that a recitation of nominal consideration of $1 along with consideration of love and affection was adequate consideration to support the agreements. B) The court ruled in favor of the plaintiff on the basis that the plaintiff’s previous deposit of funds into a joint checking account was sufficient consideration for the later agreements. C) The court ruled in favor of the defendant on the basis that a recitation of nominal consideration of $1 along with love and affection was insufficient consideration to support a conveyance. D) The court ordered the parties to divide on a 50/50 basis the assets in question based on their domestic partnership. E) The court ruled in favor of the defendant on the basis that the plaintiff’s previous deposit of funds into a joint checking account was insufficient consideration for the later agreements. 18) Which of the following was the judge’s ruling in Jamil Blackmon v. Allen Iverson, the case in the text in which the plaintiff alleged that the defendant, a professional athlete, wrongfully failed to pay him a percentage of proceeds received from using the nickname “The Answer” in merchandising although the defendant agreed to do so after the plaintiff suggested the use of the nickname? A) That consideration was present and that the defendant was liable to the plaintiff. B) That the issue of consideration was irrelevant because consideration was not required in this type of contract. C) That the defendant’s promise to pay was past consideration insufficient to create a binding contract. D) That consideration was lacking because the defendant was not bound to use the nickname. E) That the defendant was required to pay the plaintiff only half of the percentage initially offered because a gift situation was involved. 19) Gabrielle is three months behind on her mortgage, and her lender filed negative information affecting her credit rating. Gabrielle mailed one monthly payment to the lender along with a letter stating that she was making the payment on the condition that the lender remove negative material sent to credit reporting agencies affecting her credit rating. The lender cashed the check but did not remove the negative information. Gabrielle sues the bank for breach of contract. Which of the following is the most likely result? A) The bank will win because under federal law, once correct negative information is reported regarding a customer, it can be removed only if it is found to be untruthful. B) Gabrielle will win because the bank’s cashing the check constituted acceptance of her offer, and a valid contract existed. C) The bank will win because under state law, once correct negative information is reported regarding a customer, it can be removed only if it is found to be untruthful. D) Gabrielle will win because the bank had an obligation to notify her that it was not accepting her offer before cashing the check. E) The bank will win because under the preexisting duty rule, Gabrielle was already legally obligated to make the payment, and there was no consideration to support the contract. 20) What will a person receive in return for performing a contract obligation? A) Accession B) Approval C) Consideration D) Accord E) Acknowledgement  Â