12. A condition precedent in Max's contract to buy Ars sailboat is that Max find financing below 65. Since Max has not been able to do this, but still wants to buy the boat, Al has voluntarily relinquished the right to this condition. This is an example of a (n) a. Tender b. Novation. c. Accord and satisfaction d. Waiver 13. Assume that Phipps does not pay the supplier (see item 11 above) as called for in the contract Which parties may file suit against him? a. Both White and the supplier may sue Phipps. b. Either White or the supplier may sue Phipps, but not both. c. Only White may sue Phipps on the contract. d. Only the unpaid supplier may sue Phipps on the contract 14. Elle has a contract with Sue to buy her riding lawn mower for $200. Elle has given Sue $200 in Sue cash and Sue has given Elle possession of the mower. The status of this contract between and Elle is a. Executory b. Illusory c. Executed d. this book to the publisher within 14 days or send a check for $35 to the address below." Kelly did not return the book within the 14 days and she has not sent the money as requested. Is Kelly required to pay for the cookbook? 15. Kelly received a cookbook in the mail that she had not ordered. The packing slip read: "Return Yes, the publisher made an offer for a unilateral contract which Kelly accepted by not returning the book as instructed Yes, when Kelly did not return the book her conduct created an implied-in-fact contract to which she is bound. Yes, there is an implied-in-law contract and Kelly must pay for the book to prevent unjust enrichment. No, federal law allows Kelly to treat the unsolicited book as a gift after allowing 10 business days for the publisher to come and reclaim it; she can now do whatever she wants with it. a. b. C. d. 16. The Uniform Commercial Code classifies a person who deals in goods of the kind under contract, or holds himself out as having special knowledge of those goods, as a(n) a. Principal b. Merchant c. Master d. Agent