Blog

Jason purchased a motorcycle from Harley Davidson on June 1. Jason’s birthday is July 17, at which time he will have attained the age of majority (eighteen). Which of the following actions is ineffective as a ratification of the contract of purchase?

Will helped Henry study all night for the important BUL 3351 first examination. After Henry got an “A” on the exam, he told Will, “I will give you $10 for helping me get a good grade.” Will said, “Thanks, I’ll take it.” There is:

Which of the following is NOT covered by the Uniform Commercial Code?

Chris buys a Peloton indoor cycle from his brother, Ryan. Ryan agrees to keep the bike at his house until Chris picks it up. During a storm, a tree falls from Chad’s yard onto Ryan’s garage and destroys the bike. The loss of the bike is suffered by:

NOTE: This fact pattern will be utilized for Questions 6 through 10. On August 2, CNOOC, the state-owned China National Offshore Oil Corporation, offered to purchase Texas-based Oiltex, which produces and sells crude oil, natural gas, and geothermal energy, and manufactures and sells petroleum fuels and lubricants, fertilizers, and specialty minerals. Oiltex accepted the offer and their lawyers negotiated a written contract whereby CNOOC promises to pay $18.5 billion U.S. Dollars to Oiltex and Oiltex promised to sell all of its holdings and assets to CNOOC on January 1. The authorized officers of both companies signed the contract and both parties proceeded to perform their duties under the terms and conditions of the contract.   The contract is best classified as which of the following?

Fred contracts with Golf Carts Unlimited, Inc. to buy five golf carts. The contract lists the five carts as GC001, GC002, GC003, GC004, and GC005. Identification:

Larry buys an IPod for $150 and a new laptop for $1,200, and signs a one-year employment contract for a $4,800 monthly salary to start at the beginning of the next month. The statute of frauds covers:

Perfect Products, Inc. and Hot Springs Spa Stores enter into a contract for a sale of hot tubs. Under a shipment contract, the seller must:

Which of the following is an informal contract:

Apalachicola Oyster Company and Big Bend Storage Company enter into a long-term lease for a warehouse. To be enforceable, the lease must be in writing: