SOLVED

51) Which of the following is NOT an example of the exception to the rule regarding liquidated debt? A) A debtor offers a credit card company a rare book in full settlement of a $3,000 debt and the credit card company accepts. B) A car owner offers her car to the bank as full settlement of the remaining balance owed on the loan and the bank accepts. C) A debtor disputes the amount of money that is owed, so does not pay half of the debt and the creditor cashes the check. D) A student offers the use of his picture in a school brochure in full settlement of the $100 debt he owes to the university bookstore and the school accepts. E) There are no exceptions to the rule regarding liquidated debt. 52) In a[n] ________ debt, there is no dispute about the fact that money is owed and the amount of money owed. A) Unliquidated B) Acknowledged C) Actual D) Liquidated E) Certain 53) In a[n] ________ debt, the parties either dispute the fact that any money is owed or agree that some money is owed but dispute the amount. A) Disputed B) Unacknowledged C) Unliquidated D) Liquidated E) Uncertain 54) In return for his oral promise to pay her $100, Emma promises her uncle that she will not violate laws against speeding for one year. Emma abides by her promise, but her uncle refuses to pay. Which of the following is true regarding whether Emma is entitled to the money? A) Emma is not entitled to recover because obeying traffic laws was actually good for her, not something that would constitute a detriment. B) Emma is entitled to the money because she upheld her part of the bargain. C) Emma is not entitled to recover because she had a preexisting duty to obey laws against speeding. D) Emma is entitled to recover, but only ½ of the amount, because a family member is involved and the agreement was not in writing. E) Emma is not entitled to recover unless the agreement was put under seal. 55) When an accord and satisfaction is at issue, what is the new agreement to pay less than the creditor claims is owed called? A) Acknowledgement B) Seal C) Accord D) Satisfaction E) Compromise  Â