4 questions:

Identify the correct statement concerning contracts. Select one: a. A void contract is one that is not legally binding. Often an essential element is missing thus making the contract void. b. A voidable contract is one that can be breached without consequences. c. An illegal contract is nonetheless a binding and enforceable contract. O d. A contract must be evidenced in writing before it will be a binding agreement. One hot, summer day, Daisy was transporting 100 liters of ice cream across town when her truck broke down just outside of Jane's Grocery Emporium. Daisy ran int sell the ice cream to Jane, at a reduced price, with the words "Let me know immediately because we need to get the ice cream into proper refrigeration right away". offer, and dropped it in the mailbox just outside the store. Which of the following MOST ACCURATELY describes the legal situation? Select one: Select one: a. There is no contract between Daisy and Jane. An agreement in writing (and signed by both parties) would have been necessary to create a valid contract. b. There is a contract between Daisy and Jane. The contract was formed when Jane mailed the acceptance O c. There is no contract between Daisy and Jane. The manner of acceptance would likely have been inappropriate in these circumstances. d. There is a contract between Daisy and Jane, but only if Daisy had not sold the ice cream to someone else in the meantime.Because a contract of insurance is a contract of utmost good faith: Select one: O a. The insured has a duty to disclose all material changes in risk to the insurer. b. The insured has no right to know whether the insurer has discovered misrepresentations in the application for insurance. O c. The insurer has a duty to disclose all changes in risk to the insured. d. The insurer has no right to ascertain the truthfulness of statements made in the application.Assume insurance was taken out on a house when it was being used as a residential dwelling. The building was later occupied by members of a motorcycle gang. The insurance compa the change. What may the result be if the house is destroyed by fire? Select one: Select one: a. The failure to notify of the change may void the policy and the insurance company will not have to pay. O b: The failure to notify of the change is immaterial if there is no proof of what caused the fire. O c. The failure to notify of the change will not void the policy, if the insured continues to have an insurable interest in the property. O d. The failure to notify of the change will not void the policy, if there is was no misrepresentation at the time the policy was taken out