How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask J.Hazelbaker Your Own Question

J.Hazelbaker
J.Hazelbaker, Attorney
Category: Business Law
Satisfied Customers: 4385
Experience:  Experienced and trained in the area of business law.
15393114
Type Your Business Law Question Here...
J.Hazelbaker is online now
A new question is answered every 9 seconds

I have several questions about Business Law Accounting. And

Customer Question

I have several questions about Business Law Accounting. And I need one person to help me with this. I needed to no is it possible to get someone to set aside some time to help me with these questions. I need the expert answer back within an hour.
Submitted: 5 years ago.
Category: Business Law
Expert:  J.Hazelbaker replied 5 years ago.

Can you be a little more specific about the subject matter, please?

 

 

The information is provided for discussion and entertainment purposes only. I believe in helping people and answering their questions and providing information and solutions. To encourage and facilitate this practice, it is understood and agreed by the recipient that by opening, reading, accepting, and viewing this information, no attorney-client relationship has been discussed, agreed to or otherwise established. It is understood that by posting to this site, your information is made public and no attorney-client confidence is created or possible.

 

In legal matters, time is of the essence. As such, you should contact an experienced lawyer right away to protect your legal rights!

 

I appreciate your "Accepting" my answer if it has been helpful to you. Doing so allows me to continue helping in this manner. Thank you.

Customer: replied 5 years ago.
Good morning J. Hazelbaker. Are you online this morning?
Expert:  J.Hazelbaker replied 5 years ago.
Yes. Good morning.
Customer: replied 5 years ago.
Consumers Insurance Service was Lang’s insurance agent on a 1986 Toyota that was insured with Interstate Bankers Mutual Casualty Company. Lang later purchased a 1988 Toyota from Nugent Toyota Dealership, but before he was allowed to remove it from the dealership, the dealer’s credit manager called Consumers to verify that the new car would be insured. A Consumer’s employee indicated that the 1988 Toyota was insured by Interstate. Based on these assurances, Lang took delivery of the new car, started driving it, and paid the insurance premiums when they became due. Several months later Lang wrecked the 1988 Toyota and filed an insurance claim. Interstate denied coverage on the grounds that it had never agreed to insure the car. Lang sued Interstate, alleging that the agency relationship between Interstate and Consumers bound the insurer to the assurances made by its agent. Interstate denied that an agency relationship existed.


Issue: Should Lang’s suit be dismissed because no agency relationship existed between Interstate and Consumers?



Nationwide Mutual Insurance Company (Nationwide) planned to hold a regional convention to boost morale and recognize employee achievements. A planning committee decided to have a contest to determine a theme for the convention and ran an announcement that included the following:
Here’s what you could win:

·     His and Hers Mercedes

·     An all-expenses-paid trip for two around the world

·     Additional prize to be announced…

(All prizes subject to availability)




Only 2 rules apply:

1.      The slogan is limited to not more than eight words.

2.      All entries must be submitted…by August 1, 1993.




Mears, a claims adjuster for Nationwide, submitted several themes and, several months later, left Nationwide. In October, 1993, Mears was notified that his theme had been chosen for the convention. In January, Mears inquired about his Mercedes. He was told he might not get them for three reasons: (1) Nationwide might change the theme, (2) Mears was no longer an employee, and (3) the contest was a joke. His theme was used for the convention. Afterwards, Mears was informed that Nationwide never intended to award the Mercedes and offered him a restaurant gift certificate instead. Mears sued for breach of contract.

Issue: Was there sufficient evidence of intent to form a binding contract?

Expert:  J.Hazelbaker replied 5 years ago.
<p>The first question is a trick question. The answer would be "no", there is an agency relationship between the underwriter and the insurance agent. However, the case should still be dismissed on other grounds. That is, Lang could not <strong>reasonably rely</strong> on the statement made to the dealership by the agent regarding the extent of coverage. Moreover, Lang was in position to know that the statement was inaccurate based on the payment of premiums. Such unreasonable reliance cannot form the basis of a contractual relationship between Lang and Interstate/Consumers.</p><p> </p><p>The answer to the second question is "yes". A binding contract requires: 1) competent parties, 2) consideration, and 3) meeting of the minds.</p><p> </p><p>There is no indication that the parties here are not competent. A corporation is presumed competent and their are no facts to suggest that Mears is not competent.</p><p> </p><p>Consideration is required of both parties. That is, each party has to give something up. There is consideration here. Mears gives up his time and creativity, while Nationwide gives up, ostensibly, the prize. This is sufficient consideration under contract law to create a binding contract, assuming all other elements are met.</p><p> </p><p>Meeting of the minds simply means that the essential details of the bargain are clear. Here is where intent comes into play. If one side was obviously joking, then there is no intent. The question will be whether it was obvious that Nationwide was joking. That would depend, to a certain extent on past behavior and resources. The prices seem outrageous compared to the consideration being requested, a theme. However, we have seen how large corporations have spent corporate funds lavishly in the past for corporate events. So, it might not be out of the ordinary. It simply depends on the circumstances.</p><p> </p><p>If I were to make a legal judgment call based on the evidence presented, I would say that there is sufficient intent to create a meeting of the minds. The structure and the rules were clearly stated. Without more to indicate that the prizes were a joke, Nationwide is going to be bound to the contract.</p>
J.Hazelbaker, Attorney
Category: Business Law
Satisfied Customers: 4385
Experience: Experienced and trained in the area of business law.
J.Hazelbaker and 2 other Business Law Specialists are ready to help you
Customer: replied 5 years ago.
Thanks for the help. I have accepted your answer. But have another if its ok.


Gayler, a semitractor-trailer driver for North American Van Line, was injured during her work and received workers’ compensation benefits. Ten months later she was still undergoing treatments when her doctor prescribed a medical device to aid her recovery. North American authorized the purchase of the device. Gayler was driving her car to pick up the device at a medical supplier when she was seriously injured in a head-on collision. Gayler claimed that the accident arose out of her employment because she was obtaining an employer-authorized treatment at the time it occurred.

Issue: Did Gayler’s injuries arise out of and in the course of employment?


Shelly claimed that her brother-in-law, Michael, a former employee of Nationwide, induced her to invest $70,000 in a Nationwide tax-free mutual fund. At the time she made the investment, Shelly was unaware that Michael was no longer an actual or implied agent of Nationwide. After she discovered that Michael had misappropriated the funds, Shelly sued Nationwide. She contended that Michael still had apparent authority to represent Nationwide because the company had failed to properly notify her of his termination.

Issue: Is Nationwide liable to Shelly for her investment?
Expert:  J.Hazelbaker replied 5 years ago.
<p>1. The trip was for personal benefit and not the benefit of her employer. Whether or not her employer "authorized" the device as part of her worker's compensation claim is irrelevant. She was driving her own car to retrieve a personal medical device for her personal use. No employer liability for her injuries.</p><p> </p><p>2. No. For apparent authority to exist such that Nationwid would be potentially liable to Shelly, Nationwide would have to had made a representation at some point during the course of events directly to Shelly that Michael was an agent. There is no such representation here. The acts are Michael's, and Michael's alone.</p>
Customer: replied 5 years ago.
Certain contracts have absolutely no effect and are not recognized under law. If two or more parties enter into such an agreement, it is
    Voidable
   Void
   Unenforcable
   Valid

      
The necessary elements of a contract include
    Offer and acceptance, consideration, legal capacity, and mutual assent.
   Formal execution, definite terms, and a valid offer and acceptance.
   Some form of writing, equal consideration, and legal capacity.
   Bilateral promises, legal capacity, and legality of purpose.



     In determining whether a contract has been formed, the courts will consider whether the parties made their intentions clear. Which of the following factors will a court not consider?
    The complexity of the parties’ negotiations.
   Prior dealing between the parties.
   The amount of time required for performance.
   The subject of the contract.



      
Taxes payable under the Federal Unemployment Tax Act (FUTA) are
    Payable by employers for all employees.
   Withheld from the wages of all covered employees
   Calculated as a fixed percentage of all compensation paid to an employee
   Deductible by the employer as a business expense for federal income tax purposes



       
Which of the following is not a form of benefit financed by the Federal Insurance Contributions Act (FICA)?
    Disability benefits.
   Medicare benefits
   Unemployment benefits.
   Old age and survivors’ benefits.



       
The branch of public law that deals with the various regulatory functions and activities of the government is:
    criminal law.
   administrative law.
   constitutional law.
   substantive law.



       
An oral or written contract in which all the terms have been definitely stated and agreed upon by the parties is an
    informal contract
   implied contract
   none of these.
   express contract



       
A source of law upon which much of contract law is based is state common law.
   True
False



       
A bilateral contract results from the exchange of one promise for another.
   True
False



       
When it is not clear whether a unilateral or bilateral contract has been formed, a unilateral contract will be presumed by the courts.
   True
False



       
A void contract may be enforceable.
   True
False



       
To be executed, a contract must be fully performed by all parties.
   True
False



       
A quasi contract may be considered an obligation imposed by law and based upon equitable principles.
   True
False



      
Only written contracts, not oral ones, are binding and enforceable.
   True
False



      
The terms of an offer may be accepted by
    a letter
   all of these.
   spoken words
   a telegram



      
An offer may terminate by
    revocation
   all of these.
   death of either party
   rejection



      
A definite contractual proposal requesting a forbearance and made by one person to another is
    an offer
   a quasi contract.
   an acceptance.
   an invitation



      
To create a contract, an offer must
    all of these.
   be communicated to the offeree
   have contractual intent
   be definite and certain



      
If the offeror has the power to terminate the offer before acceptance, the offeror has
    rejection power
   the power to lapse
   irrevocable options
   the power of revocation.



     
The manifestation of an unwillingness to accept an offer is called a
    rejection
   revocation
   counteroffer.
   withdrawal



      
An offer
    all of these.
   that consists of a statement indicating a willingness to offer is not itself a binding offer
   must manifest intent to create a contract.
   may be a promise for a promise



     
The standard the law applies to determine if a manifestation of mutual assent has occurred by the words or acts of the parties is
    a subjective standard
   a relative standard
   none of these.
   an objective standard



      
An offer
    all of these.
   requires an offeror and an offeree
   may be a promise for an act
   may be in the form of an act for a promise



      
A counteroffer
    indicates a total rejection of the original offer
   none of these.
   operates like a rejection
   has no effect on the original offer



      
A voidable contract is created when
    one person unduly influences another
   all of these.
   an agent breaches her fiduciary duty to her principal
   there has been a mutual mistake of a material fact



      
Consideration for a promise may be defined as
    an act other than a promise
   the creation, modification or destruction of a legal relation
   a forbearance
   all of these.



     
A promise that the promisor should reasonably expect to induce action or forbearance by the promisee may be binding under the doctrine of
    waiver
   promissory estoppel
   gratuitous contracts
   none of these.



      
In a bilateral contract
    each party is both a promisor and a promisee
   the parties to the contract exchange promises
   mutuality of obligation exists
   all of these.



      
Past consideration is not valid consideration, therefore, no contract exists.
   True
False



      
Promises to purchase as much of an item as one may want or desire are generally upheld.
   True
False



      
Contracts of a type or class governed by the Statute of Frauds are said to be "within" the Statute.
   True
False



      








       

                     
















 &nbs p;                                        
Expert:  J.Hazelbaker replied 5 years ago.
<p>Certain contracts have absolutely no effect and are not recognized under law. If two or more parties enter into such an agreement, it is <br />    Voidable <br />   <strong>Void</strong> <br />   Unenforcable <br />   Valid <br /><br />       <br />The necessary elements of a contract include <br />    <strong>Offer and acceptance, consideration, legal capacity, and mutual assent.</strong> <br />   Formal execution, definite terms, and a valid offer and acceptance. <br />   Some form of writing, equal consideration, and legal capacity. <br />   Bilateral promises, legal capacity, and legality of purpose. <br /><br /><br /><br />     In determining whether a contract has been formed, the courts will consider whether the parties made their intentions clear. Which of the following factors will a court not consider? <br />    The complexity of the parties' negotiations. <br /> <strong> Prior dealing between the parties.</strong> <br />   The amount of time required for performance. <br />   The subject of the contract. </p><p>Though, this is not always the case. None of the above, would be better.<br /><br /><br /><br />       <br />Taxes payable under the Federal Unemployment Tax Act (FUTA) are <br />    Payable by employers for all employees. <br />   Withheld from the wages of all covered employees <br />   Calculated as a fixed percentage of all compensation paid to an employee <br />   Deductible by the employer as a business expense for federal income tax purposes <br />Not sure on this one</p><p><br /><br /><br />        <br />Which of the following is not a form of benefit financed by the Federal Insurance Contributions Act (FICA)? <br />    Disability benefits. <br />   Medicare benefits <br />   Unemployment benefits. <br />   Old age and survivors' benefits. <br /><br /><br /><br />        <br />The branch of public law that deals with the various regulatory functions and activities of the government is: <br />    criminal law. <br />   <strong>administrative law.</strong> <br />   constitutional law. <br />   substantive law. <br /><br /><br /><br />        <br />An oral or written contract in which all the terms have been definitely stated and agreed upon by the parties is an <br />    informal contract <br />   implied contract <br />   none of these. <br />   <strong>express contract</strong> <br /><br /><br /><br />        <br />A source of law upon which much of contract law is based is state common law. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />A bilateral contract results from the exchange of one promise for another. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />When it is not clear whether a unilateral or bilateral contract has been formed, a unilateral contract will be presumed by the courts. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />A void contract may be enforceable. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />        <br />To be executed, a contract must be fully performed by all parties. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />        <br />A quasi contract may be considered an obligation imposed by law and based upon equitable principles. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />       <br />Only written contracts, not oral ones, are binding and enforceable. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />The terms of an offer may be accepted by <br />    a letter <br /> <strong> all of these.</strong> <br />   spoken words <br />   a telegram <br /><br /><br /><br />       <br />An offer may terminate by <br />    revocation <br />   <strong>all of these</strong>. <br />   death of either party <br />   rejection <br /><br /><br /><br />       <br />A definite contractual proposal requesting a forbearance and made by one person to another is <br />    <strong>an offer <br /></strong>   a quasi contract. <br />   an acceptance. <br />   an invitation <br /><br /><br /><br />       <br />To create a contract, an offer must <br />    <strong>all of these.</strong> <br />   be communicated to the offeree <br />   have contractual intent <br />   be definite and certain <br /><br /><br /><br />       <br />If the offeror has the power to terminate the offer before acceptance, the offeror has <br />    rejection power <br />   the power to lapse <br />   irrevocable options <br />   <strong>the power of revocation</strong>. <br /><br /><br /><br />      <br />The manifestation of an unwillingness to accept an offer is called a <br />    <strong>rejection</strong> <br />   revocation <br />   counteroffer. <br />   withdrawal <br /><br /><br /><br />       <br />An offer <br /> <strong> all of these. <br /></strong>   that consists of a statement indicating a willingness to offer is not itself a binding offer <br />   must manifest intent to create a contract. <br />   may be a promise for a promise <br /><br /><br /><br />      <br />The standard the law applies to determine if a manifestation of mutual assent has occurred by the words or acts of the parties is <br />    a subjective standard <br />   a relative standard <br />   none of these. <br />   <strong>an objective standard</strong> <br /><br /><br /><br />       <br />An offer <br />    <strong>all of these. <br /></strong>   requires an offeror and an offeree <br />   may be a promise for an act <br />   may be in the form of an act for a promise <br /><br /><br /><br />       <br />A counteroffer <br />    indicates a total rejection of the original offer <br />   none of these. <br />   <strong>operates like a rejection</strong> <br />   has no effect on the original offer <br /><br /><br /><br />       <br />A voidable contract is created when <br />    one person unduly influences another <br />   <strong>all of these.</strong> <br />   an agent breaches her fiduciary duty to her principal <br />   there has been a mutual mistake of a material fact <br /><br /><br /><br />       <br />Consideration for a promise may be defined as <br />    an act other than a promise <br />   the creation, modification or destruction of a legal relation <br />   a forbearance <br />   <strong>all of these</strong>. <br /><br /><br /><br />      <br />A promise that the promisor should reasonably expect to induce action or forbearance by the promisee may be binding under the doctrine of <br />    waiver <br />   <strong>promissory estoppel</strong> <br />   gratuitous contracts <br />   none of these. <br /><br /><br /><br />       <br />In a bilateral contract <br />    each party is both a promisor and a promisee <br />   the parties to the contract exchange promises <br />   mutuality of obligation exists <br />   <strong>all of these.</strong> <br /><br /><br /><br />       <br />Past consideration is not valid consideration, therefore, no contract exists. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />Promises to purchase as much of an item as one may want or desire are generally upheld. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />Contracts of a type or class governed by the Statute of Frauds are said to be "within" the Statute. <br />   <strong>True</strong> <br />False </p>
Customer: replied 5 years ago.
Can't understand the Ansewers
Expert:  J.Hazelbaker replied 5 years ago.
Yikes. Something happened to the formatting on all my answers. I'll see what I can do.
Customer: replied 5 years ago.
OK
Expert:  J.Hazelbaker replied 5 years ago.
<p>Certain contracts have absolutely no effect and are not recognized under law. If two or more parties enter into such an agreement, it is <br />    Voidable <br />   <strong>Void</strong> <br />   Unenforcable <br />   Valid <br /><br />       <br />The necessary elements of a contract include <br />    <strong>Offer and acceptance, consideration, legal capacity, and mutual assent.</strong> <br />   Formal execution, definite terms, and a valid offer and acceptance. <br />   Some form of writing, equal consideration, and legal capacity. <br />   Bilateral promises, legal capacity, and legality of purpose. <br /><br /><br /><br />     In determining whether a contract has been formed, the courts will consider whether the parties made their intentions clear. Which of the following factors will a court not consider? <br />    The complexity of the parties' negotiations. <br /><strong>Prior dealing between the parties.</strong> <br />   The amount of time required for performance. <br />   The subject of the contract. </p><p>Though, this is not always the case. None of the above, would be better.<br /><br /><br /><br />       <br />Taxes payable under the Federal Unemployment Tax Act (FUTA) are <br />    Payable by employers for all employees. <br />   Withheld from the wages of all covered employees <br />   Calculated as a fixed percentage of all compensation paid to an employee <br />   Deductible by the employer as a business expense for federal income tax purposes <br />Not sure on this one</p><p><br /><br /><br />        <br />Which of the following is not a form of benefit financed by the Federal Insurance Contributions Act (FICA)? <br />    Disability benefits. <br />   Medicare benefits <br />   Unemployment benefits. <br />   Old age and survivors' benefits. <br /><br /><br /><br />        <br />The branch of public law that deals with the various regulatory functions and activities of the government is: <br />    criminal law. <br />   <strong>administrative law.</strong> <br />   constitutional law. <br />   substantive law. <br /><br /><br /><br />        <br />An oral or written contract in which all the terms have been definitely stated and agreed upon by the parties is an <br />    informal contract <br />   implied contract <br />   none of these. <br />   <strong>express contract</strong> <br /><br /><br /><br />        <br />A source of law upon which much of contract law is based is state common law. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />A bilateral contract results from the exchange of one promise for another. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />When it is not clear whether a unilateral or bilateral contract has been formed, a unilateral contract will be presumed by the courts. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />A void contract may be enforceable. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />        <br />To be executed, a contract must be fully performed by all parties. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />        <br />A quasi contract may be considered an obligation imposed by law and based upon equitable principles. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />       <br />Only written contracts, not oral ones, are binding and enforceable. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />The terms of an offer may be accepted by <br />    a letter <br /><strong>all of these.</strong> <br />   spoken words <br />   a telegram <br /><br /><br /><br />       <br />An offer may terminate by <br />    revocation <br />   <strong>all of these</strong>. <br />   death of either party <br />   rejection <br /><br /><br /><br />       <br />A definite contractual proposal requesting a forbearance and made by one person to another is <br />    <strong>an offer <br /></strong>   a quasi contract. <br />   an acceptance. <br />   an invitation <br /><br /><br /><br />       <br />To create a contract, an offer must <br />    <strong>all of these.</strong> <br />   be communicated to the offeree <br />   have contractual intent <br />   be definite and certain <br /><br /><br /><br />       <br />If the offeror has the power to terminate the offer before acceptance, the offeror has <br />    rejection power <br />   the power to lapse <br />   irrevocable options <br />   <strong>the power of revocation</strong>. <br /><br /><br /><br />      <br />The manifestation of an unwillingness to accept an offer is called a <br />    <strong>rejection</strong> <br />   revocation <br />   counteroffer. <br />   withdrawal <br /><br /><br /><br />       <br />An offer <br /><strong>all of these. <br /></strong>   that consists of a statement indicating a willingness to offer is not itself a binding offer <br />   must manifest intent to create a contract. <br />   may be a promise for a promise <br /><br /><br /><br />      <br />The standard the law applies to determine if a manifestation of mutual assent has occurred by the words or acts of the parties is <br />    a subjective standard <br />   a relative standard <br />   none of these. <br />   <strong>an objective standard</strong> <br /><br /><br /><br />       <br />An offer <br />    <strong>all of these. <br /></strong>   requires an offeror and an offeree <br />   may be a promise for an act <br />   may be in the form of an act for a promise <br /><br /><br /><br />       <br />A counteroffer <br />    indicates a total rejection of the original offer <br />   none of these. <br />   <strong>operates like a rejection</strong> <br />   has no effect on the original offer <br /><br /><br /><br />       <br />A voidable contract is created when <br />    one person unduly influences another <br />   <strong>all of these.</strong> <br />   an agent breaches her fiduciary duty to her principal <br />   there has been a mutual mistake of a material fact <br /><br /><br /><br />       <br />Consideration for a promise may be defined as <br />    an act other than a promise <br />   the creation, modification or destruction of a legal relation <br />   a forbearance <br />   <strong>all of these</strong>. <br /><br /><br /><br />      <br />A promise that the promisor should reasonably expect to induce action or forbearance by the promisee may be binding under the doctrine of <br />    waiver <br />   <strong>promissory estoppel</strong> <br />   gratuitous contracts <br />   none of these. <br /><br /><br /><br />       <br />In a bilateral contract <br />    each party is both a promisor and a promisee <br />   the parties to the contract exchange promises <br />   mutuality of obligation exists <br />   <strong>all of these.</strong> <br /><br /><br /><br />       <br />Past consideration is not valid consideration, therefore, no contract exists. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />Promises to purchase as much of an item as one may want or desire are generally upheld. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />Contracts of a type or class governed by the Statute of Frauds are said to be "within" the Statute. <br />   <strong>True</strong> <br />False </p>
Customer: replied 5 years ago.
Still showing the same way
Expert:  J.Hazelbaker replied 5 years ago.
There is a problem with the portal. It's pasting everything as html text. It won't let me get to the regular window at the moment. I'll keep trying.
Customer: replied 5 years ago.
Please Please please I have 3 minutes
Customer: replied 5 years ago.
<p>Still having problems with it</p>
Expert:  J.Hazelbaker replied 5 years ago.
Would it be possible to post your last series of questions in a new question. You don't need to do a deposit. There's too much text on the page, apparently.
Expert:  J.Hazelbaker replied 5 years ago.
<p>Certain contracts have absolutely no effect and are not recognized under law. If two or more parties enter into such an agreement, it is <br />    Voidable <br />   <strong>Void</strong> <br />   Unenforcable <br />   Valid <br /><br />       <br />The necessary elements of a contract include <br />    <strong>Offer and acceptance, consideration, legal capacity, and mutual assent.</strong> <br />   Formal execution, definite terms, and a valid offer and acceptance. <br />   Some form of writing, equal consideration, and legal capacity. <br />   Bilateral promises, legal capacity, and legality of purpose. <br /><br /><br /><br />     In determining whether a contract has been formed, the courts will consider whether the parties made their intentions clear. Which of the following factors will a court not consider? <br />    The complexity of the parties' negotiations. <br /> <strong> Prior dealing between the parties.</strong> <br />   The amount of time required for performance. <br />   The subject of the contract. </p><p>Though, this is not always the case. None of the above, would be better.<br /><br /><br /><br />       <br />Taxes payable under the Federal Unemployment Tax Act (FUTA) are <br />    Payable by employers for all employees. <br />   Withheld from the wages of all covered employees <br />   Calculated as a fixed percentage of all compensation paid to an employee <br />   Deductible by the employer as a business expense for federal income tax purposes <br />Not sure on this one</p><p><br /><br /><br />        <br />Which of the following is not a form of benefit financed by the Federal Insurance Contributions Act (FICA)? <br />    Disability benefits. <br />   Medicare benefits <br />   Unemployment benefits. <br />   Old age and survivors' benefits. <br /><br /><br /><br />        <br />The branch of public law that deals with the various regulatory functions and activities of the government is: <br />    criminal law. <br />   <strong>administrative law.</strong> <br />   constitutional law. <br />   substantive law. <br /><br /><br /><br />        <br />An oral or written contract in which all the terms have been definitely stated and agreed upon by the parties is an <br />    informal contract <br />   implied contract <br />   none of these. <br />   <strong>express contract</strong> <br /><br /><br /><br />        <br />A source of law upon which much of contract law is based is state common law. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />A bilateral contract results from the exchange of one promise for another. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />When it is not clear whether a unilateral or bilateral contract has been formed, a unilateral contract will be presumed by the courts. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />        <br />A void contract may be enforceable. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />        <br />To be executed, a contract must be fully performed by all parties. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />        <br />A quasi contract may be considered an obligation imposed by law and based upon equitable principles. <br />   <strong>True</strong> <br />False <br /><br /><br /><br />       <br />Only written contracts, not oral ones, are binding and enforceable. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />The terms of an offer may be accepted by <br />    a letter <br /> <strong> all of these.</strong> <br />   spoken words <br />   a telegram <br /><br /><br /><br />       <br />An offer may terminate by <br />    revocation <br />   <strong>all of these</strong>. <br />   death of either party <br />   rejection <br /><br /><br /><br />       <br />A definite contractual proposal requesting a forbearance and made by one person to another is <br />    <strong>an offer <br /></strong>   a quasi contract. <br />   an acceptance. <br />   an invitation <br /><br /><br /><br />       <br />To create a contract, an offer must <br />    <strong>all of these.</strong> <br />   be communicated to the offeree <br />   have contractual intent <br />   be definite and certain <br /><br /><br /><br />       <br />If the offeror has the power to terminate the offer before acceptance, the offeror has <br />    rejection power <br />   the power to lapse <br />   irrevocable options <br />   <strong>the power of revocation</strong>. <br /><br /><br /><br />      <br />The manifestation of an unwillingness to accept an offer is called a <br />    <strong>rejection</strong> <br />   revocation <br />   counteroffer. <br />   withdrawal <br /><br /><br /><br />       <br />An offer <br /> <strong> all of these. <br /></strong>   that consists of a statement indicating a willingness to offer is not itself a binding offer <br />   must manifest intent to create a contract. <br />   may be a promise for a promise <br /><br /><br /><br />      <br />The standard the law applies to determine if a manifestation of mutual assent has occurred by the words or acts of the parties is <br />    a subjective standard <br />   a relative standard <br />   none of these. <br />   <strong>an objective standard</strong> <br /><br /><br /><br />       <br />An offer <br />    <strong>all of these. <br /></strong>   requires an offeror and an offeree <br />   may be a promise for an act <br />   may be in the form of an act for a promise <br /><br /><br /><br />       <br />A counteroffer <br />    indicates a total rejection of the original offer <br />   none of these. <br />   <strong>operates like a rejection</strong> <br />   has no effect on the original offer <br /><br /><br /><br />       <br />A voidable contract is created when <br />    one person unduly influences another <br />   <strong>all of these.</strong> <br />   an agent breaches her fiduciary duty to her principal <br />   there has been a mutual mistake of a material fact <br /><br /><br /><br />       <br />Consideration for a promise may be defined as <br />    an act other than a promise <br />   the creation, modification or destruction of a legal relation <br />   a forbearance <br />   <strong>all of these</strong>. <br /><br /><br /><br />      <br />A promise that the promisor should reasonably expect to induce action or forbearance by the promisee may be binding under the doctrine of <br />    waiver <br />   <strong>promissory estoppel</strong> <br />   gratuitous contracts <br />   none of these. <br /><br /><br /><br />       <br />In a bilateral contract <br />    each party is both a promisor and a promisee <br />   the parties to the contract exchange promises <br />   mutuality of obligation exists <br />   <strong>all of these.</strong> <br /><br /><br /><br />       <br />Past consideration is not valid consideration, therefore, no contract exists. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />Promises to purchase as much of an item as one may want or desire are generally upheld. <br />   True <br /><strong>False</strong> <br /><br /><br /><br />       <br />Contracts of a type or class governed by the Statute of Frauds are said to be "within" the Statute. <br />   <strong>True</strong> <br />False </p>
Customer: replied 5 years ago.
Certain contracts have absolutely no effect and are not recognized under law. If two or more parties enter into such an agreement, it is Voidable Void Unenforcable Valid The necessary elements of a contract include -Offer and acceptance, consideration, legal capacity, and mutual assent. -Formal execution, definite terms, and a valid offer and acceptance. -Some form of writing, equal consideration, and legal capacity. -Bilateral promises, legal capacity, and legality of purpose. In determining whether a contract has been formed, the courts will consider whether the parties made their intentions clear. Which of the following factors will a court not consider? The complexity of the parties’ negotiations. Prior dealing between the parties. The amount of time required for performance. The subject of the contract. Taxes payable under the Federal Unemployment Tax Act (FUTA) are Payable by employers for all employees. Withheld from the wages of all covered employees Calculated as a fixed percentage of all compensation paid to an employee Deductible by the employer as a business expense for federal income tax purposes Which of the following is not a form of benefit financed by the Federal Insurance Contributions Act (FICA)? Disability benefits. Medicare benefits Unemployment benefits. Old age and survivors’ benefits.
Expert:  J.Hazelbaker replied 5 years ago.

Here's the best I can do right now. In the answer, I put the correct response in bold. So, in a True/False where the answer was True, I put True in bold. In HTML, it looks like <strong>Void</strong> Where Void would be the answer and be in bold. If you go back and look were "strong is in either side of the word or phrase, that is your answer. I'll keep trying to get it sorted out.

Customer: replied 5 years ago.
Thanks I see what you talking about. That helps out alot thanks for your help!!!!
Expert:  J.Hazelbaker replied 5 years ago.
Glad that helps.
Customer: replied 5 years ago.

Hi Hazelbaker Can you help me with these questions please.

Which of the following is the best functional definition of insurance?

-A legal contract by which the insurer, in return for consideration, agrees to pay another person if a stated loss or injury occurs.

-A legal contract by which an insurance company, in return for premiums, agrees to pay the policyholder if a certain event occurs.

-A written promise by the insurer to pay the beneficiary if loss occurs from the occurrence of a contingent event.

-A writing issued by an insurance company, for a consideration, that promises to indemnify a beneficiary for a loss from an existing risk or one that arises later.

 

The distinction between contracts that are covered by the UCC and those that are not is

-Basically dependent upon whether the subject matter of the contract involves the purchase or sale of goods.

-Based upon the dollar amount of the contract.

-Dependent upon whether the statute of frauds is involved

-Of relatively little or no imporatnce because the laws are invariably the same

 

Which of the following is excluded from the UCC's definition of goods?

-Minerals (including oil and gas) to be extracted by the seller

-Investment securities

-Growing crops and timber

-The unborn young of animals

 

Patch, a frequent shopper at Soon-Shop Stores, received a rain check for an advertised sale item after Soon-Shop's supply of the product ran out. The rain check was in writing and stated that the item would be offered to the customer at the advertised sale price for an unspecific period of time. A Soon-Shop employee signed the rain check. When Patch returned to the store one month later to purchase the item, the store refused to honor the rain check. Under UCC Article 2, will Patch win a suit to enforce the rain check?

-No, because one month is too long a period of time for a rain check to be effective

-No, because the rain check did not state the effective time period necessary to keep the offer open

-Yes, because Soon-Shop is required to have sufficient supplies of the sale item to satisfy all customers

-Yes, because the rain check met the requirements of a merchant's firm off even though no effective time period was stated

 

Under UCC Article 2, and unless otherwise agreed to, the seller's obligation to the buyer is to

-Deliver the goods to the buyer's place of business

-Hold conforming goods and give the buyer whatever notification is reasonably necessary to enable the buyer to take delivery

-Deliver all goods called for in the contract to a common carrier

-Set aside confirming goods for inspecction by the buyer before delivery

 

Casassa, a merchant in San Francisco, under the terms of a nonshipment contract, agrees to sell 50 cases of packaged macaroni to Paoli. a restaurant owner whose business is in San Jose. At the time of contracting for the sale, both parties are aware that these identified goods are in a warehouse in Fresno. The place for delivery is not specified in the agreement. On the basis of these facts, teh place for delivery is

-San Francisco

-San Jose

-Fresno

-Indefinite, and the contract is unenforceable

 

Taylor signed and mailed a letter to Peel that stated: "Ship promptly 600 dozen grade A eggs." Taylor's offer

-May be accepted only by a prompt shipment

-May be accepted by either a prompt promise to ship or prompt shipment

-Is invalid because the price term was omitted

-Is invalid because the shipping term was omitted

 

Cookie Co. offered to sell Distrib Markets 20,000 pounds of cookies at $1.00 per pound, subject to certain specified terms for delivery. Distrib replied in writing as follow: "We accept your offer for 20,000 pounds of cookies at $1.00 per pound, weighing scale to have valid city certificate." Under UCC,

-A contract was formed between the parties

-A contract will be formed only if Cookie agrees to the weighing scale requirement

-No contract was formed because Distrib included the weighing scale requirement in its reply

-No contract was formed because Distrib's reply was a counteroffer

 

Filmore purchased a TV set from Allison Appliances, an authorized dealer, for $499. The written contract contained the usual 1-year warranty as to parts and labor as long as the set was returned to the manufacturer or one of its authorized dealers. The contract also contained an effective disclaimer of any express warranty protection, other than that included in the contract. It further provided that the contract represented the entire agreement and understanding of the parties. Filmore claims that during the bargaining process Surry, Allison agent, orally promised to service the set at Filmore's residence if anything went wrong within the year. Which of the following would be Allison's best defense?

-The statute of frauds

-The parol evidence rule

-All warranty protection was disclaimed other than the express warranty contained in the contract

-Surry, Allison's agent, did not have express authority to amke such a promise

 

The UCC provides rules of construction that allow unclear contracts to be read in the context of commercial practices and other surrounding circumstances. When the application of these rules result in a conflict, what hierarchy does the UCC establish with regard to the following? 1. Course of performance 2. Course of dealing 3. Usage of trade 4. Express terms

-3,4,2,1

-4,2,3,1

-4,1,2,3

-2,4,1,3

 

To satisfy the UCC statute of frauds, a written agreement for the sale of goods must

-Contain payment terms

-Be signed by both buyer and seller

-Indicate that a contract for sale has been made

-Refer to the time and place of delivery

 

Assume that the parties have entered into a contract for the sales of goods. Which of the following is a false statement under the UCCC?

-Retention of title by the seller to goods delivered to the buyer is, in effect, a reservation of a security interest.

-Title to goods may pass under a contract for sale prior to identification to the contract

-Title can pass to the buyer when the seller completes physical delivery of the goods if a document of title is to be delivered at a different time or place.

-Identification of the goods to the contract gives the buyer an insurable interest in the goods even before delivery

 

To negotiate an instrument payable to bearer, one must

-Transfer possession of, and endorse, the instrument.

-Transfer possession of the instrument

-Endorse the instrument

-Endorse and transfer possession of the instrument with consideration

 

Anna Karr transferred a negotiable instrument payable to her order in exchange for value to XXXXX XXXXX. Karr did not endorse the instrument. As a result of the transfer, Watson,

-Obtains such rights as the transferor had in all cases

-Can become a holder only if the instrument is endorse and possession is transferred at the same time

-Is presumed to be the owner of the instrument because she gave value

-Is entitled to an unqualified endorsement by Karr

 

Under the Negotiable Instruments Article of the UCC, an endorsement of an instrument "for deposit only" is an example of what type of endorsement?

-Blank

-Qualified

-Restrictive

-Special

 

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Law Pro

    Attorney

    Satisfied Customers:

    1426
    20 years experience in business law - sole proprietor, partnership, and corporations
< Last | Next >
  • http://ww2.justanswer.com/uploads/LA/lawpro/2012-6-25_171315_PT206740s.64x64.jpg Law Pro's Avatar

    Law Pro

    Attorney

    Satisfied Customers:

    1426
    20 years experience in business law - sole proprietor, partnership, and corporations
  • http://ww2.justanswer.com/uploads/DC/DCraneEsq/2012-8-14_14436_DCrane.64x64.jpg MShore Law's Avatar

    MShore Law

    Attorney

    Satisfied Customers:

    1233
    Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    1162
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    1142
    Run my own successful business/contract law practice.
  • http://ww2.justanswer.com/uploads/ohioatty/2009-1-22_185545_me.jpg J.Hazelbaker's Avatar

    J.Hazelbaker

    Attorney

    Satisfied Customers:

    393
    Experienced and trained in the area of business law.
  • http://ww2.justanswer.com/uploads/scottymacesq/2009-6-10_221523_small.jpg RGMacEsq's Avatar

    RGMacEsq

    Attorney

    Satisfied Customers:

    393
    Licensed Texas General Practice Attorney
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Attorney

    Satisfied Customers:

    301
    13 years practicing attorney, MBA