Question
5. Which of the following contracts would be governed by the Uniform Commercial Code? a. A contract for the sale of real estate. b.
5. Which of the following contracts would be governed by the Uniform Commercial Code? a. A contract for the sale of real estate. b. A contract for legal services. c. A contract for the sale of a refrigerator. d. A contract for the purchase of farmland. 6. Sam decided to attend college. Because of the expense of housing, Sam decided to accept his cousin's offer to live with him while in school. When he graduated, Sam made a promise to pay his cousin $2,000 for the time he had lived there. Later, due to financial troubles, Sam refused to pay his cousin. Sam's promise to his cousin: a. is not enforceable because his cousin gave no consideration to support Sam's promise to pay $2,000. b. is not enforceable because $2,000 is probably not equal to the amount he really should pay his cousin. c. is enforceable because prior consideration is a valid form of consideration. d. is enforceable because of the preexisting obligation rule. 7. Aunt Millie promised her nephew, Will, $1,000 if he made the college basketball team. Will made the team. Aunt Millie's promise is: a. unenforceable for lack of consideration. b. enforceable because there was consideration. c. enforceable as a quasi-contract. d. unenforceable as a moral obligation. 8. Exelon offered a reward for information leading to the arrest and conviction of the persons who vandalized its office complex. Kyle, unaware of the reward, called the police with information on the vandals. The information led to the arrest and conviction of those responsible for the damage. Pursuant to contract law:
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