Question 1 Rosa a seventeenyearold signs a contract to sell

Question 1

Rosa, a seventeen-year-old, signs a contract to sell her car to Stan. Later, Rosa decides not to sell the car. Rosa is liable to Stan for

Question 2

Intoxicated, Efron enters a contract for the sale of his business, Freight Dispatch, to Gretel for less than its market value. This contract is enforceable if, at the time,

Question 3

Jack enters into a contract with Kris, an unlicensed contractor. This contract may be enforceable if

Question 4

Members of certain professions are required to have licenses. Most likely, the requirements to obtain a license do not include

an ongoing business.

5.Gary owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respec-tively. Helen enters into a contract to buy “Gary’s ATV” for $750. Gary believes, in good faith, that he is selling the $500 ATV. Helen believes, in good faith, that she is buying the $1,000 ATV. In this situation

the contract is not enforceable.

6.Ira owes Jessie $1,000. Kerry owes Ira $1,000. Ira unconditionally assigns his rights to Jessie. Ira’s right to the $1,000 is then

in abeyance

7.Red Bev LLC contracts to buy two tons of strawberries from Sweet Fruits, Inc. The contract states that Sweet Fruits is required to ship the strawberries to Red Bev by Truck Transport Inc. The contract is

a warehouse receipt.

8.Liz buys a Miata from Nate’s Mazda, paying with a check that is later dishonored. Liz offers to sell the car to Ogden for cash. With respect to this offer, Liz’s title to the car is

Solution

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