1)True or FalseRonald and Bill have entered into a written contract, dated May 15, 2021, whereby Bill will pay Ronald $10,000 for Ronald's car, on May 25, 2021.At this price, Ronald will have made a profit on the sale of the car, in the amount of $4,000 over what he paid for it!On May 18, Bill sends Ronald a letter in which he states:"I have changed my mind - I will not be buying your car."When Ronald tries to sell the car to someone else, the highest price he can get is $9,000.Ronald has a valid claim against Bill for $1,000 in "lost profits."

2)Which one of the following statements will constitute an express warranty?

a."This is the best car on the market!"

b."This is a classic car - its value should just go up over time!"

c."These tires have at least 10,000 miles of legal wear left!"

d."This is a cream-puff car!"

e.None of the above