40. Stephen Strange rented a business property in Manhattan for five years from Benedict Wong. Under the written lease agreement, there was a provision for a five-year renewal at the expiration of the initial five years, at rents "to be agreed upon between the parties." When the time came and the first five year lease period had elapsed, the Strange gave timely notice of his intent to renew as required by the lease, but the parties could not agree on a rental amount for such renewal. Strange obtained the services of a licensed and certified real estate appraiser who gave an market a ent of the appropriate rent for such a property in such a neighborhood, but that estimated rental amount was about half of what Wong was demanding as a condition of continuing the lease. Strange sued for specific performance under the lease, asking the court to order the renewal at the appraiser's estimate or for some other reasonable amount to be determined by the court. What is the likely decision of the court on Strange's request for specific performance? a. The court will order specific performance with regard to the renewal, based on an b. amount of rent derived from the real estate appraiser's estimated appropriate rent. The court will not provide Strange with specific performance because the renewal option in the ease amounts to an illusory promise. C. The court will order the renewal and the lease terms, including the rent, will remain the same as during the initial five year period. d. The court will order the renewal to take place since Strange complied with the lease when exercising same and the rent will increase to the amount demanded by Wong, provided such rental amount is not unconscionable. 41. Which of the following is NOT a duty owed by an agent to a principal? a. Diligence b. Loyalty c. To Account d. All of the above ARE duties owedSS. Against his better judgment, Cameron has allowed his friend Ferris to burnoo his father's Ferrari and take it for a spin around Chicago. When the toro friends get back to Cameron's house, Ferris' plan is to prop up the back of the rear wheel drive automobile and let it nin in reverse in order to take the miles off. This, uns singly. does not work. The two friends have an intense argument in which Cameron finally comes to realize that he must stand up to his father if he is going to grow as a person. Satisfied with this epiphany, he leans on the Ferrari, causing the brick that is holding up the back end to fall and the car to jet backwards through the garage door, sending it careening into the ravine below the house. Cameron's father, once he learns the fate of his prized automobile, decides to sue Ferris in negligence for the damage to his Ferrari. To what result? a. Ferris will defeat the lawsuit entirely if it can be shown that Cameron was even b. one percent responsible for the harm to the car. C. Cameron's father will win if it can be shown that Ferris acted under duress. Ferris will win because there is no special relationship between he and Cameron's father giving rise to a legal duty. d. Cameron's father will win if it can be shown that the harm to the car was at least some percent attributable to Ferris. 56. The Statute of Frauds tell us which specific forms of contract must be in writing in order to have legal force and effect; which of the following contracts does NOT need to be in writing to be valid? a. An agreement between a commercial landlord and a commercial tenant for a three year lease of a property to be used as an office building An agreement between a supermarket and a cleaning supply wholesaler for $1,000 b. worth of cleaning supplies c. An agreement between two friends wherein one friend will pay off the debts of the other in exchange for the indebted friend acting as the paying friend's butler for 18 months. d. An agreement between a nursing home and the family of an sixty-seven year old patient with Alzheimer's in which the nursing home agrees to care for the patient until his death. 3042. Patrick Dempsey is a very attractive wow. but We is e Alive" award from 2023. decides white he will attend an upcoming acmal Sexiest Man Alive, Ryan Gosling To that end, Dentistry guns in's ined motion and explains the costume party and what he intends to the eng and him a replica of the costume worn by Gosling in the film Barbie so that he can wear it to the party. The seamstress mpsey $500 and tells him that the costume will be finished by the end of the following week, just in time for Dempsey to collect it on the way to his party. Dempsey agrees and hands over the $500. However, the next day, before the seamstress has begun wo the on the costume, Dempsey is informed by his friends that they have decided not to have their party after all. He calls up the seamstress right away and tells her he won't be needing the costume after all and so would like his money back. The seamstress refuses to return his money and insists that she will have the costume ready for him as agreed. If Dempsey sues the seamstress to recover the money he paid her for the costume he no longer needs, what is his best argument as to why he should win? a. Impracticability b. Impossibility c. Frustration of purpose d. Unilateral mistake 43. Galen Erso, the general contractor in charge of the construction of a large, spherical space station, signed a contract with his client, Sheev Palpatine, which required the space station to be complete by June 1st. However, though Erso's workers are working as fast as they can, he needs more time. A representative of Palpatine, reminds Erso that, if the space station is not completed by the date agreed, the contract calls for Erso to pay 100 credits per day in damages until completion. Erso promises that his men will redouble their efforts. The 100 credits per day are: a. Liquidated Damages b. Punitive Damages c. An illegal penalty d. Nominal Damages 23