Quiz_#2_Questions.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 2275A/B
Professor
Philip King
Semester
Fall

Description
TitleMOS 22stA Quiz October 21 Professor King Management and Organizational Studie- Business Law I UWO Type: c) Exam Quiz #2 Kathleen Coates Started: October 21 11:20 AM Questions: 10 1. (Points: 10) Albert and Bob have a contract whereby Bob has agreed to burn down Albert’s house for consideration of $5,000, so that Albert can claim the insurance proceeds. Albert has given Bob $2,500 and the contract requires Albert to pay Bob the remaining $2,500 after the job is done. However, Bob has now backed out of the deal, and Albert has sued him for breach of contract. What will the court order: 1. Albert to pay Bob $2,500. 2. Bob to pay Albert $2,500. 3. Albert to pay Bob $5,000. 4. Bob to pay Albert $5,000. 5. The court will not order either party to pay any money. true 2. (Points: 10) Gwen and Hal have both signed a written agreement, in which Gwen has agreed to sell a specific machine to Hal for a price which is to be negotiated by the parties prior to delivery. Gwen and Hal have a history of similar agreements, and they have always been able to agree on price prior to delivery. True or false: Gwen and Hal have a contract. True False true 3. (Points: 10) Kara telephoned Lauren to offer Lauren the use of Kara’s cottage for one week in exchange for rent of $500. Lauren was not home, so Kara left the offer in a voicemail message addressed to Lauren. Lauren’s roommate retrieved the voicemail containing the offer and decided that she would accept the offer, so she phoned Kara back and accepted the offer. True or false: Kara and Lauren have a contract. True False true 4. (Points: 10) Able has entered into a contract with Bruce, who is 16 years old, in Ontario, for the purchase by Bruce of a simple winter coat. Which is true: 1. The contract is void. 2. The contract is voidable. 3. The contract is enforceable. 4. The contract is unenforceable. false 5. (Points: 10) Waldo and the University of Xeon have a contract pursuant to which Waldo has agreed to donate $500,000 to the University of Xeon, payable in six months. The contract has been signed by Waldo and a seal has been attached to his signature. True of false: Waldo is legally bound to make the $500,000 donation. false True
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