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CUNY Lehman College Business Law and Legal Consequences Test Questions

CUNY Lehman College Business Law and Legal Consequences Test Questions

Question Description


  1. Question 1

    3 PointsWhile intoxicated, Holt Richter contracts to buy a motorcycle for double its normal price. The contract is:


  2. Question 2

    3 PointsAlice offers Richard a chance to work in her affiliate-marketing program which, she claims, will make him a millionaire in three months. Richard makes the “mandatory investment” of $1,500 and becomes an affiliate. Soon, he realizes that such a program does not exist, and that Alice has disappeared with the money. This is an instance of:


  3. Question 3

    3 PointsEdgar entered into a contract with a local mortuary to provide the funeral and burial of his beloved Cousin Tumbleweed, recently deceased. The name of the establishment is “You-Kill-Em, We-Plant-Em”. Edgar was assured by the funeral director, Mr. Rigor Mortis, that Tumbleweed’s final resting place would be under a shade tree next to a babbling brook. After the burial, Edgar found to his revulsion that Tumbleweed’s remains were thrown into a mass grave that the mortuary also rents out as a landfill. If Edgar sues the mortuary (and we know he will), his best chance is to prove:


  4. Question 4

    2 PointsJunior is suffering from the increasing effects of mental illness, and has not been declared mentally incompetent by any court. Right now, he is at the point where he is perfectly lucid some days and in a complete fog on other days. On one of his good days, he entered into a contract to buy a motor home in a trailer park for $35,000. Later that month, when Junior has to perform, he is in a fog and doesn’t even know what a park is (let alone a trailer park). Junior is liable for this contract.


  5. Question 5

    3 PointsMelvina is a mentally unstable individual. She was officially declared by the court in her state to be mentally incompetent five years ago, and the court appointed her mother to be Melvina’s legal guardian. If Melvina purchases a Business Law textbook today, although she has never attended college, her purchase of the book is legally:


  6. Question 6

    3 PointsRatchet & his wife, Spongebobeesha, were preparing their joint Federal Income Tax return for this year with their tax preparer, Slimy Sal, when they decided that they would not have enough money to pay the taxes they owed. They decided that they needed to do something to reduce their liability. The threesome decided to write off their four goldfish (Moe, Larry, Curly, & Shemp) as their dependents, even though they weren’t legally entitled to do so, and agreed to give Slimy Sal a percentage of their refund, in addition to his $950 fee. Is Slimy Sal entitled to receive any payment under these facts?


  7. Question 7

    3 PointsMurray runs a drug selling ring and contracts to pay several law enforcement officers $1,000,000 not to interfere with his operation. The illicit payments are subsequently discovered and the officers and Murray are sent to prison. Murray can:


  8. Question 8

    2 PointsA contract with a minor is voidable at the minor’s option unless the minor is legally emancipated.


  9. Question 9

    3 PointsElaine & Nicole have just created a contract in which Nicole is to provide consulting services for Elaine at a price of $95 per hour. Nicole’s usual fee is $220 per hour, but agreed to the lower fee because the business was in severe financial difficulty and she needed the contract with Elaine in order to keep her business solvent. Elaine was aware of Nicole’s situation all along, but the contract was created as a result of tough, but fair, good faith negotiations. Later, Nicole contacted Elaine and told her that she couldn’t perform this contract for anything less than $140 per hour. Elaine hung up on Nicole. Nicole then sues to have the contract thrown out, alleging economic duress. In this case, Nicole will:


  10. Question 10

    2 PointsDisaffirmance is a party’s legal right to break a contract.


  11. Question 11

    3 PointsThe state of Georgia runs a lottery. Biff, who lives in Tuscaloosa, Alabama, sees that the Georgia lottery is wildly successful, so he begins running his own lottery business and runs the operation from his home. Biff makes $5,000,000 profit in his first year of operations. Alabama does not have a statute authorizing gambling. On these facts:


  12. Question 12

    3 PointsWhich of the following constitutes undue influence?


  13. Question 13

    2 PointsA minor may legally disaffirm one part of a contract and simultaneously ratify another part of the same contract.


  14. Question 14

    2 PointsPushy Paul, a very loud, obnoxious, overbearing salesman, convinced Insecure Ira to make a purchase he didn’t really want. There was no force in Pushy Paul’s making the sale. Insecure Ira could still have the contract thrown out on the grounds of physical duress.


  15. Question 15

    2 PointsIf Marge purchases a car at age 17 and continues to make payments on the car until she reaches age 20, she will be most likely deemed to have ratified the contract.


  16. Question 16

    10 PointsPatsy is a seventy-seven-year-old widow who lives quite comfortably on both her late husband’s pension and her Social Security benefits. Recently, Patsy has become increasingly absent minded, and her family fears that she may be suffering from the early stages of Alzheimer’s Disease. No physician has diagnosed her, however, and no court has ruled on Patsy’s legal competence. One day while she is out shopping, Patsy stops by a store having a sale on pianos and enters into a three-year installment contract to buy an antique piano for $7,400. When the piano arrives the next week, Patsy claims that she does not recall buying a piano and repeatedly asks the deliverymen why they are delivering a piano to her house. Patsy comes to you, her family attorney, and wants your advice regarding the enforceability of this contract. What do you tell her? Can she disaffirm this contract or is the contract enforceable? Be sure to explain the reasons for your answer.


  17. Question 17

    3 PointsJim is trustee for his elderly cousin Mary Ann’s $500,000,000 trust. Mary Ann is elderly & housebound, and most of her friends are deceased. Thus, Mary Ann relies on Jim to do her grocery shopping, pay her bills, & walk her dog, among other things. Jim also makes monthly payments to Mary Ann from trust funds, pursuant to the terms of the trust agreement. Jim also knows that Mary Ann is independently wealthy aside from the trust. One day, Jim shows up unexpectedly at Mary Ann’s house and delivers an ultimatum: “Look here you stupid old witch, unless you sign this will naming me the sole beneficiary of your estate, I will not do anything else for you ever again. No groceries, no distribution checks, NO NOTHING!!! I also disconnected your phone in case you had any ideas about calling anyone else! Mary Ann realizes that Jim is quite serious and signs the will naming her no good, avaricious cousin as her sole beneficiary. On these facts, the will is:


  18. Question 18

    2 PointsFraud is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract.


  19. Question 19

    3 PointsIn a service contract, if Al hires Bill to kidnap Chester, which of the following is the correct statement of law? I) If Al already paid Bill, the court would compel Bill to refund Al’s money, but would not compel Bill to kidnap Chester. II) This is an example of a voidable contract.


  20. Question 20

    3 PointsVince flies airplanes for a living. He is an excellent pilot and creates a contract with Lester to work as his personal pilot, flying his Lear Jet. The contract stipulates that Vince will earn $144,602 per year. Six months into the contract, Lester discovers that Vince does not have a pilot’s license, which is a felony. After Lester fires Vince, Vince sues to recover the balance of his salary. On these facts:


  21. Question 21

    3 PointsAl raises an extraordinarily attractive litter of beagle puppies. One of the puppies, Cindy, is especially breathtaking. She is 18 months old when Stella, who owns a champion male breeder, Spike, approaches Al and wants to know if this precious puppy has already been spayed. Al responds that the dog is in excellent health and will make a wonderful mother. Stella responds, “Excellent, I want to breed Spike immediately and Cindy will be just perfect.” Al sells Cindy for five thousand dollars. Two months later, Stella returns, positively apoplectic: it turns out that Cindy cannot have puppies. Al knew all along that Cindy had been neutered. In this case:


  22. Question 22

    3 PointsIn order for a minor to be bound by a contract with an adult after he or she becomes an adult, he or she must:


  23. Question 23

    2 PointsIf there is a close business or personal relationship between two people, any contract made by the servient party that benefits the dominant party is may be created as a result of undue influence.


  24. Question 24

    3 Points16-year-old Frank bought a video game console from John for $150. Frank is a minor, while John is a competent adult. A month later, the console started malfunctioning on its own. Frank returned the console to John. If Frank disaffirms his contract with John for buying the console, which of the following will be considered true?


  25. Question 25

    3 PointsAn example of a party who has the capacity to create a contract is:


  26. Question 26

    3 PointsGary and Mary Ann are siblings involved in a legal dispute over who gets possession of their deceased parents’ home. Gary threatens to kill Mary Ann’s husband if she does not sign papers declaring Gary’s sole ownership of the home. This is an instance of:


  27. Question 27

    3 PointsMelvin & Raheim are negotiating a partnership agreement that would divide the profits 80%-20% in Melvin’s favor (with Raheim doing 100% of the work). Melvin’s bargaining chip is a meat cleaver, which he strategically places at Lulu’s throat. Lulu is Raheim’s Persian cat, which he loves more than people. Melvin tells Raheim that Lulu will become tonight’s special at the local restaurant if Raheim doesn’t agree to the partnership. Raheim becomes partners with Melvin in order to save his beloved Lulu. If Raheim sues to disaffirm the contract, what happens?


  28. Question 28

    10 PointsDISCLAIMER: Any resemblance to anyone you may know, living or otherwise, is purely coincidental. Thank you. 1) Gilmore, a middle age law professor at Big Town University, wanted to take dancing lessons because he wanted to go to the college’s President’s & Dean’s list awards dinner dance. He purchased 10 lessons from the Arthur Quarry Dance Studio for $100. Lori Anne, the manager of the school, constantly praised Gilmore’s ability to learn so quickly and his lightness on his feet. Lori Anne continued to give Gilmore unabated praise. Lori Anne’s continued flattery induced Gilmore to purchase 2,655 additional dance lessons totaling $54,013. In actuality, Gilmore had 2 left feet and no sense of coordination. The owners of the Arthur Quarry Dance Studio were well aware of this, and encouraged Lori Anne to keep up the flattery routine because “we’ve got a great big gullible cash cow just begging us to take his money.” At the President’s & Dean’s list dinner, Gilmore was the first to run out onto the dance floor to do the Electric Slide. Unfortunately, Gilmore tripped and fell on his first dance step flat on his face, causing everyone in attendance to laugh unmercifully at him. Mortified, Gilmore runs from the dance floor and quits his teaching job, too mortified to show his face at the University, He sues the studio for damages, alleging contract fraud. The studio counters that Gilmore entered into this contract of his own free will, and that the studio did nothing wrong. Who is right, and why? Be sure to explain the reasons for your answer.


  29. Question 29

    2 PointsIf a minor disaffirms a contract while still being a minor, the contract can be ratified later.


  30. Question 30

    3 PointsAssume that your friend Terry is a bad credit risk. Regardless, you lend him $10,000 when you know that Terry has been rejected by every bank in town. The loan agreement calls for Terry to repay the principal in 3 years, and make periodic interest payments. In order to cover the riskiness of the loan, you charge Terry an interest rate of 10% per week. In this case:


  31. Question 31

    3 PointsOn August 18, Peter, age 17, offered a local grocery store 2000 pounds of fresh cantaloupes from his parents’ farm. The store accepted Peter’s offer that day and the cantaloupes were ripe & ready for delivery. However, the store waited for two weeks before sending its delivery truck on September 1. In the meantime, Peter turned 18 on August 22. He sold the cantaloupes to a local supermarket on August 25 before they spoiled. The grocery store wants to sue Peter on the grounds that it cancelled its regular supply of cantaloupes in reliance on Peter’s offer. Will the grocery store prevail?


  32. 2 PointsMaximus leased an apartment from Caligula. Shortly before the lease expired, Caligula told Maximus that he will evict him early and also give him a severe beating if Maximus did not sign a new lease for twice the old rent. Elderly Maximus, unable to afford the legal fees to fight eviction, and intimidated by Caligula’s threat, signed the new lease. Two weeks after this turn of events, Maximus moved into a better neighborhood and also sued Caligula to disaffirm the new lease. The new lease is properly voidable by Maximus.

How to Place an Order

  1. Clіck оn the Place оrder tab at the tоp menu оr “Order Nоw іcоn at the bоttоm, and a new page wіll appear wіth an оrder fоrm tо be fіlled.
  2. Fіll іn yоur paper’s іnfоrmatіоn and clіck “PRІCE CALCULATІОN” at the bоttоm tо calculate yоur оrder prіce.
  3. Fіll іn yоur paper’s academіc level, deadlіne and the requіred number оf pages frоm the drоp-dоwn menus.
  4. Clіck “FІNAL STEP” tо enter yоur regіstratіоn detaіls and get an accоunt wіth us fоr recоrd keepіng.
  5. Clіck оn “PRОCEED TО CHECKОUT” at the bоttоm оf the page.
  6. Frоm there, the payment sectіоns wіll shоw, fоllоw the guіded payment prоcess, and yоur оrder wіll be avaіlable fоr оur wrіtіng team tо wоrk оn іt.

Nоte, оnce lоgged іntо yоur accоunt; yоu can clіck оn the “Pendіng” buttоn at the left sіdebar tо navіgate, make changes, make payments, add іnstructіоns оr uplоad fіles fоr the оrder created. e.g., оnce lоgged іn, clіck оn “Pendіng” and a “pay” оptіоn wіll appear оn the far rіght оf the оrder yоu created, clіck оn pay then clіck оn the “Checkоut” оptіоn at the next page that appears, and yоu wіll be able tо cоmplete the payment.

Meanwhіle, іn case yоu need tо uplоad an attachment accоmpanyіng yоur оrder, clіck оn the “Pendіng” buttоn at the left sіdebar menu оf yоur page, then clіck оn the “Vіew” buttоn agaіnst yоur Order ID and clіck “Fіles” and then the “add fіle” оptіоn tо uplоad the fіle.

Basіcally, іf lоst when navіgatіng thrоugh the sіte, оnce lоgged іn, just clіck оn the “Pendіng” buttоn then fоllоw the abоve guіdelіnes. оtherwіse, cоntact suppоrt thrоugh оur chat at the bоttоm rіght cоrner

NB

Payment Prоcess

By clіckіng ‘PRОCEED TО CHECKОUT’ yоu wіll be lоgged іn tо yоur accоunt autоmatіcally where yоu can vіew yоur оrder detaіls. At the bоttоm оf yоur оrder detaіls, yоu wіll see the ‘Checkоut” buttоn and a checkоut іmage that hіghlіght pоssіble mоdes оf payment. Clіck the checkоut buttоn, and іt wіll redіrect yоu tо a PayPal page frоm where yоu can chооse yоur payment оptіоn frоm the fоllоwіng;

  1. Pay wіth my PayPal accоunt‘– select thіs оptіоn іf yоu have a PayPal accоunt.
  2. Pay wіth a debіt оr credіt card’ or ‘Guest Checkout’ – select thіs оptіоn tо pay usіng yоur debіt оr credіt card іf yоu dоn’t have a PayPal accоunt.
  3. Dо nоt fоrget tо make payment sо that the оrder can be vіsіble tо оur experts/tutоrs/wrіters.

Regards,

Custоmer Suppоrt

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