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29.
(p. 353)
Yolanda agrees to bathe and groom Wendy's dog, Fluffy Puff, for $30. Yolanda agreed to
the price before seeing Fluffy Puff who is a chubby dog with lots of hair. Yolanda tells Wendy that
if she is going to groom Fluffy Puff, the price will be $40. Wendy reluctantly agrees but tells
Yolanda that she should not have been surprised that a dog named Fluffy Puff would have lots of
hair. Yolanda bathes and grooms Fluffy Puff, but Wendy will only pay $30. Which of the following
is correct regarding Yolanda's entitlement to the extra $10?
30.
(p. 354)
Which of the following is true regarding the preexisting duty rule?
31.
(p. 354)
Sally goes to have her hair trimmed and agrees to pay $40 to the stylist. While there, Sally
decides that she would also like highlights. The stylist informs her that highlights will cost an
additional $30. Sally agrees to the price, gets the highlights, but refuses to pay the extra amount.
What is the likely result in a dispute between Sally and the stylist and why?
32.
(p. 352)
Which of the following is true regarding the rating the World Bank gives China in relation
to the ease of doing business there?
33.
(p. 354)
Which of the following is true regarding whether an accepted offer to pay part of a debt is
consideration?
34.
(p. 354)
In a[n] ______ debt, there is no dispute about the fact that money is owed and the
amount of money owed.
35.
(p. 354)
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.
36.
(p. 353)
In return for his oral promise to pay her $100, Penny promises her uncle that she will not
violate laws against speeding for one year. Penny abides by her promise, but her uncle refuses to
pay. Which of the following is true regarding whether Penny is entitled to the money?
37.
(p. 354)
When an accord and satisfaction is at issue, the ______ is the new agreement to pay less
than the creditor claims is owed.
38.
(p. 354)
When an accord and satisfaction is at issue, the ______ is the payment, by the debtor, of
the reduced amount.
39.
(p. 354)
Which of the following is true regarding an accord and satisfaction?
40.
(p. 355)
Which of the following is true under the UCC regarding checks marked "paid-in-full"?
41.
(p. 355)
Which of the following is true regarding the effect of a debtor offering to pay less money
than is owed as full payment on a debt when the debt itself, in its entirety, is in dispute, and the
creditor agrees?
42.
(p. 355)
Assuming no exception applies, which of the following is true regarding the effect of a
debtor offering to pay less money than is owed as full payment on a debt for which there is no
dispute over the amount or existence of the debt, and the creditor agrees?
43.
(p. 355)
Assuming no exception applies, which of the following is true regarding the effect of a
debtor offering to pay less money than is owed as full payment on a debt for which there is a
dispute over the amount of the debt, and the creditor agrees?
44.
(p. 355)
Which of the following is true regarding the effect of a debtor offering to pay a different
type of payment, for example, goods instead of money, on a debt for which there is not a dispute
over the amount or existence of the debt, and the creditor agrees?
45.
(p. 346)
Which of the following was involved when the government, in attempting to help AIG,
agreed with AIG to lend AIG up to $85 billion in exchange for nearly 80 percent of AIG's stock?
46.
(p. 347)
Christen graduates from college, receives a job offer across the country, and moves there
giving up her apartment and cancelling all the other job interviews. After she gets there, she is
told that there is no job. What may she recover in most states?
47.
(p. 354)
Tina, an experienced pool contractor, and Bruce agree on a price for Tina to build a pool
in Bruce's backyard. While the area is not known for rocks, unfortunately Tina unexpectedly
encounters a significant problem with solid rock in the backyard when she starts to dig. She tells
Bruce that unless she receives an extra $5,000, she cannot complete the job. Bruce agrees
thinking to himself that he has a way out. When Tina finishes the pool, Bruce refuses to pay the
additional $5,000. Which of the following is the most likely result of their dispute?
