Donny offers to purchase Kyle's lava lamp collection for $2,500, the terms are set at $500 down and the remainder to be
Posted: Fri May 20, 2022 7:55 am
Donny offers to purchase Kyle's lava lamp collection for $2,500,
the terms are set at $500 down and the remainder to be paid within
90 days. Kyle considers it a generous offer and would like to sell
his collection but is concerned about Donny's ability to pay. To
induce Kyle to sell the collection to Donny, Donny's sister, Marie,
promises Kyle that if Donny doesn't pay in full she will. With this
assurance, Kyle accepts Donny's offer. Which of the following is
true?
A. Marie's promise must be written to be enforceable
B. Marie is acting as an assignor.
C. The parties have created a collateral contract.
D. (All of the above)
E. A and C but not B.
Jarod and Allen both attend La Grande High School. Jarod
is a bully and is constantly punching Allen whenever the teacher
isn't looking. Allen's mother finds out about the bullying
when she notices a large bruise on Allen's arm. Allen's
mother calls up Jarod and agrees to pay him $200 if he does not
touch Allen for the rest of the school year. Jarod agrees and
fulfills his end of the bargain. At the end of the school
year, Jarod tries to collect the $200 and Allen's mother refuses to
pay. Jarod sues. The agreement is most likely:
A. not enforceable because it lacked consideration.
B. not enforceable because of the statute of frauds.
C. enforceable even though it is not written.
D. enforceable because it was ratified by Jarod.
the terms are set at $500 down and the remainder to be paid within
90 days. Kyle considers it a generous offer and would like to sell
his collection but is concerned about Donny's ability to pay. To
induce Kyle to sell the collection to Donny, Donny's sister, Marie,
promises Kyle that if Donny doesn't pay in full she will. With this
assurance, Kyle accepts Donny's offer. Which of the following is
true?
A. Marie's promise must be written to be enforceable
B. Marie is acting as an assignor.
C. The parties have created a collateral contract.
D. (All of the above)
E. A and C but not B.
Jarod and Allen both attend La Grande High School. Jarod
is a bully and is constantly punching Allen whenever the teacher
isn't looking. Allen's mother finds out about the bullying
when she notices a large bruise on Allen's arm. Allen's
mother calls up Jarod and agrees to pay him $200 if he does not
touch Allen for the rest of the school year. Jarod agrees and
fulfills his end of the bargain. At the end of the school
year, Jarod tries to collect the $200 and Allen's mother refuses to
pay. Jarod sues. The agreement is most likely:
A. not enforceable because it lacked consideration.
B. not enforceable because of the statute of frauds.
C. enforceable even though it is not written.
D. enforceable because it was ratified by Jarod.