47, Virginia bomowed money from GALLedig at 35% interest per year. Virginia is a Delaware resident and G & L is a Delaware company following Delaware law. Virginia defauilted on the loan. What amount can G & L collect from Virginia? a. G&will be able to collect the principal plus 35% interest per year. b. G &L will be able to collect the principal but not any interest. C. G&L will be able to collect the interest but not any principal. d. G & L will not be able to collect either the principal or interest 48. 1n January, Alex promised to pay Y2K Inc. $5,000 if it would refrain (refrain = agree not to) from filing suit against him on a breach of contract action. Y2k agreed and accepted a $5,000 check from Alex. Which of the following statements is correct? a. Y2K's promise to refrain from suing Alex was not supported by legal consideration. Y2K's promise to refrain from suing Alex was supported by legal consideration and is enforceable. This is an accord and satisfaction, and Y2K cannot sue. b. C. d. The courts would apply promissory estoppel in this situation. 49. Mary is a nerdy bookworm couch potato who rarely goes out of her home except to go to work as a deskbound lawyer. She wears a sweater almost every day including during the summer, and is always complaining about being cold. Edmund, Mary's boss and a very rich partner in the firm, tells Mary that he will give her $1M if she climbs Mt. Everest. Mary, without saying anything to anyone, starts an intensive training program to whip herself into shape and sik months later during her vacation, in fact, climbs Mt. Everest. Upon returning to work, she presen ts Edmund a picture of herself on the summit of Mt. Everest and demands her $1M. Edmund tells her that they never had a contract so he owes her nothing and Mary claims that the money is owed based on promissory estoppel. a. promissory estoppel applies because Edmund was very rich and can afford to pay the $1M promised. b. promissory estoppel applies because she should be able to trust and believe her boss. c. promissony estoppel won't apply because Mary must announce that she accepts his offer for it to create an obligation to pay promissory estoppel won't apply because Edmond had no reason to believe that Mary would rely on his promise. d. 50. Josh is negotiating the sale of his car with Jonathan. Jonathan asks if the car has ever been in an accident and Josh replies, "no, it has never been in an accident." In fact, the car was nearly totaled the year before when Shella, Josh's girlfriend, driving Josh's car, hit a wet spot and skidded into a pole. Josh had it repaired and forgave her. Josh has committed fraud. Sclentortation, nothing because Josh didn't know about Sheila's accident so he is not telling a lie misrepresentation nothing, it was fixed correctly so the prior accident was not material to the contract