Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

29. A court adjudicates Leo mentally incompetent and appoints Kelly to be his guardian. Later, without Kellys knowledge, Leo signs a contract to sell his

29. A court adjudicates Leo mentally incompetent and appoints Kelly to be his guardian. Later, without Kellys knowledge, Leo signs a contract to sell his lake cabin to Larry for its real market value. The contract is

a. enforceable if Leo comprehended the consequences.

b. enforceable if Leo knew the market value of the farm.

c. enforceable if Leo has been recorded to be the owner of the cabin.

d. void.

30. Barbara, a real estate broker licensed only in Maine, concludes a land sale in New Jersey. She can

a. collect the commission if it has not been paid.

b. keep the commission if it has already been paid.

c. foreclose on the property to obtain any unpaid amount.

d. not collect the commission, keep it, or foreclose on the property.

31. Oley signs a covenant not to compete with her employer, Pandanada. A court decides that the covenant is overly restrictive. Depending on the jurisdiction, the court will likely

a. enforce it as written so as not to undercut the freedom of contract.

b. enforce it but evaluate its effects over time.

c. reform its terms to prevent any undue burden.

d. refuse to enforce it unless Pandanada pays a fine to the court.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions