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linda_us, Master's Degree
Category: Business and Finance Homework
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Experience:  A tutor for Business, Finance, Accounts and other related topics.
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21. offers to pay Marietta “a million dollars” if she will

Customer Question

21. Martin offers to pay Marietta “a million dollars” if she will take his final exam for him. Two other witnesses hear Martin make his offer. Marietta accepts the offer, and takes the final exam for Martin. When she asks for payment, Martin refuses. If Marietta takes Martin to court, the judge will probably:
a. send Marietta to jail
b. send Martin to jail
c. enforce the promise as a contract
d. not enforce the agreement – it is not valid as a contract22. Adam e-mails Barbara, offering to sell her 500 shares of Microsoft common stock for $20 each, for a total of $10,000. Barbara immediately writes back, saying “I accept your offer regarding the 500 shares of Microsoft for $10,000.” At the time, Microsoft shares were usually selling for about $50 each. When Adam realizes what other people are selling their stock for, he sends Barbara a note saying: “I have changed my mind – forget about buying the MSFT shares.” Barbara sends Adam a check for $10,000, but Adam does not cash the check, and he does not transfer the shares to Barbara. If Barbara sues Adam to enforce her bargain regarding the shares of stock, what would the expected result be in court?
a. Adam has a good defense that Barbara was not providing adequate consideration for the shares, because the price was too low, and the judge will rule that they had no enforceable contract.
b. Adam has a good defense that he has not cashed the check, so there was no consideration paid for the shares, and the judge will rule there was no enforceable contract.
c. The judge should rule that Barbara was entitled to the benefit of her bargain, and will enforce their agreement as a contract.
d. The judge should rule that they had a “quasi-contract” that should be enforced as if it was a contract.23. True/False A judge could declare a contract to be void, if one of the parties to the contract is pressured to enter into the contract, by “undue influence.”24. Jon is suffering from dementia. He still lives in his long-time home, which is worth $500,000. His neighbor Bill comes over, and gets Jon to sign an agreement to sell his house to Bill for $50,000, and gets Jon to sign a deed to transfer the title to Bill. Jon does not remember signing anything. Jon’s son, Donald, goes to court to try to get a judge to “void” the sale. What will probably happen?
a. The judge will enforce the contract and deed, because it was signed by Jon.
b. The judge will refuse to enforce the agreement.
c. The judge will re-write the agreement, with a new price of $500,000, and force Bill to pay the full price.25. A “liquidated damages” clause in a contract spells out what amount of “damages” is going to have to be paid, by the party who breaches the contract. True/False26. Martin has lost his wallet, which contains all of his credit cards, about $500 in cash, and an irreplaceable picture of his mother, who has recently died. Martin posts a “reward” offer of $500 on all of the telephone polls in the neighborhood where he thinks the wallet probably fell out of his jacket. This type of offer, to the finder of lost property, is generally viewed as a unilateral promise between the offeror and the individual who successfully finds the lost property. This “finder” can only “accept” the offer by actual performance – performing the actions of finding the property that was lost, and bringing it to the offeror. True/False27. Marcia and Jill are eating lunch at the Cactus Café. Marcia makes an oral offer to Jill, to hire Jill for a 6-month project, and to pay Jill $4,000 per month during this project. Jason, a regular patron of the café, happened to be sitting at the table right next to Jill and Marcia, and recorded the entire conversation on his ipad. After two months, Marcia tells Jill that Marcia doesn’t want her to continue the project. Result if Jill sues Marcia:
a. Marcia will win – Jill has nothing in writing to show the judge that there was a contract.
b. Jill will win – contracts that can be performed in less than one year can be oral and still be enforceable in court. Jill has a witness (Jason) who can testify and back up what Marcia offered to Jill.
Submitted: 2 months ago.
Category: Business and Finance Homework
Expert:  Donna Kakonge replied 2 months ago.

Dear Customer,

Thank you. When is your deadline in order to have the answers for these questions?

Expert:  Donna Kakonge replied 2 months ago.

Are these the only questions that you have?

Customer: replied 2 months ago.
All those are the questions that I have. I need those answers before Saturday. If you answer those asap, it would be appreciated.
Expert:  Donna Kakonge replied 2 months ago.

Dear Customer,

Yes. Saturday would be fine. I can have them completed by Saturday. Would you be willing to pay $100 extra in order to have these questions answered? If you cannot afford that, we can negotiate. Please do let me know what you can afford if you cannot afford to pay $100.00 extra.

Customer: replied 2 months ago.
I can't pay 100 extra sorry
Expert:  Donna Kakonge replied 2 months ago.

Dear Customer,

I understand. Neither could I right now :-). What can you afford to pay? Keeping in mind the offer that I have made to you.

Customer: replied 2 months ago.
I already paid $40. Should I need to pay more??
Expert:  Donna Kakonge replied 2 months ago.

Dear Customer,

Yes, if I am going to answer the questions. If you prefer to see if another Expert will help you at your going rate, I can opt out so that another Expert will help you. Please do let me know.

Customer: replied 2 months ago.
I want another Expert to help me. Thank you
Expert:  Donna Kakonge replied 2 months ago.

No problem. Thank you.

Expert:  Donna Kakonge replied 2 months ago.

Dear Customer,

One of my specialties on this site, in this section, is the subject of Law. I will make the offer to you since no one else has responded. If you truly cannot afford it, fine, all you need to do is to reject the offer.

Thank you,

Donna Kay Cindy Kakonge, BJ, MA, TESOL, LLB, EdD