1) Gary and Buddy want to vacation in Daytona Beach, Florida, during spring break. Gary's grandfather owns an oceanfront condominium in Daytona Beach Gary and Buddy are both 17 years old. Gary and Buddy contract to pay Gary's grandfather $1,500 to rent his condominium during spring break. The week before spring break, Gary and Buddy are arrested and are unable to travel to Daytona Beach because of their court hearing dates. Are Gary and Buddy obligated to pay $1,500 for the condominium ? A) Yes - because they entered into a contract . B)No -- because neither Gary nor Buddy was the age of majority at the time of the contract , making it voidable by them C) No-because contracts between family members are unenforceable . D) None of the above 2) Cupco makes plastic cups for the fast-food industry. Tommy owns Tommy's Fast Food. Tommy contracts to purchase 500,000 plastic cups for his fast food restaurants at a price of $75,000, to be delivered in 30 days. At the time of contract$75,000 is the market price for cups purchased at that quantity Seven days after agreeing to buy the cups, a documentary criticizing the use of disposable plastic cups goes viral on social-media platforms, and the price for plastic cups falls considerably. In fact , three days before Cupco's delivery date, Tommy learns that Drinkup, one of Cupco's competitors, will sell him the same quantity and quality of cups for $59,500. Tommy is shocked that he can find the same cups at such a low price and wants to void his contract with Cupco and buy cups from Drinkup instead. He argues that he should not have to honor his contract with Cupco because it is unconscionable for him to pay so much for the cups? A) . Tommy will be successful in arguing that the contract is unconscionablebecause the cups are less valuable now than they were at the time of contract B) Tommy will be successful in arguing that the contract is unconscionable, because no reasonable person would contract to pay $75,000 for cups. C)Tommy will not be successful in arguing that the contract is unconscionable because unconscionability is a defense available to sellers, not buyers D) Tommy will not be successful in arguing that the contract is unconscionable, because the contract was fait to him at the time it was made. 3) Collins contracts with Baxter for Baxter to prepare Collins's income tax returns in exchange for payment of $500. Collins's tax return is due on April 15. On April 14, Baxter calls Collins and tells her that he will need to be paid $900 to complete preparation of Collins's tax returnCollins agrees to pay Baxter $900 . Choose the best answer : A) The contract is enforceable because the $900 price was bargained for. B) The contract is enforceable because Baxter relied upon Collins's promise to pay an additional $ 900 C) The contract is unenforceable because Baxter's promise is illusory O D) The contract is unenforceable because Baxter had a pre-existing duty to complete the tax returns. 4) Cal wants to buy Del's 40-acre farm. Del does not want to sell the farm. Cal know that Del has been failing to report income from his farming operations on the farm for over a decade . Cal tells Del that, unless Del agrees to sell the farm to Cal , Cal will report Del to the Internal Revenue Service. Del agrees to sell the farm to Cal, only to avoid being reported to the Internal Revenue Service. If Del wants to avoid selling the farm to Cal, what is the best defense for Del to raise ? A) Incapacity B) Misrepresentation C)Duress D)Undue influence