13 Gustavo "Gus" Fring offers Walter "Heisenberg" White $100,000 for several kilograms of crystal methamphetamine to be delivered to Gus' dry cleaning shop on Main Street in seven days. On the seventh day, Heisenberg delivers the requested product. Gus refuses to pay $100,000 at the time of delivery. Which of the following is a correct statement of the law? A. An express contract exists because the contract terms were explicitly stated at the time of contract formation An implied contract exists because of the conduct of the parties since they were merchants in the business of the manufacture, purchase and sale of crystal methamphetamine B. C. The contract is voidable because the agreement was illegal from the outset. D. The contract is void because the agreement was illegal from the outset 14 Chuck's Lawn and Landscaping sends Property Management Inc. a written offer to cut and landscape all of Property Management, Inc.'s greenspaces for the months of June through November for $10,000. Chuck's Lawn and Landscaping is a well-respected business in the area and their offer is generally considered highly competitive for the local market. Which of the following is an accurate statement of law? A. Chuck's Lawn and Landscaping's intent to enter into a contract can be considered B. Chuck's Lawn and Landscaping's intent to enter into a contract can never be considered C. Chuck's Lawn and Landscaping's intent to enter into a contract can be determined by D. None of the Above serious by a reasonable person under the circumstances. serious by a reasonable person under the circumstances. Chuck's Lawn and Landscaping's subjective belief 15. Randolph National Bank offers John Doe a $10,000 loan with a 15% annual interest rate. Before John Doe can accept the offer, Congress passes a Usury statute prohibiting annual interest rates great than 13%, which is a correct statement of the law? Randolph National Bank's offer is considered illegal and is terminated by law Randolph National Bank's offer is still considered legal because it was made before the law took effect, regardless of no acceptance by John Doe. John Doe's acceptance would be considered valid because he possessed the capacity to understand the nature and consequences of the contract. John Doe can reject Randolph National Bank's offer and counteroffer a S10,000 with a 14% annual interest rate A. B. C. D. 16 John emails Chuck an offer for $100 if Chuck would paint John's fence today Chuck immediately replies with an email stating that he will paint John's fence today for $150. Which of the following is a correct statement of the law? A. Chuck's reply email is considered a rejection of John's original o B. Chuck's reply email is considered a rejection of John's original offer and a counteroffer. C. Chuck's reply email is considered acceptance with a slight variation in terms under the niform Commercial Code. Chuck's reply email is considered acceptance because it complies with the Mirror Image Rule D