Please be sure to include the legal rule and analysis in your answer. 1. On July 5, 2016, Barbara and Katrina entered into a bet on the outcome of the 2016 presidential election. In January 2020, Barbara, who had bet on the winner, approached Katrina seeking to collect the $5,000 Katrina had wagered. Katrina paid Barbara the wager but now seeks to recover the money from Barbara. What result? 2. Barry, who owns a chain of successful home and garden pest extermination supplies stores in the five boroughs of New York City called "Bug-Away Supplies," agrees to sell all of his stores and the accompanying goodwill to Pete, who owns a competing store chain called "Pete's Extermination Supplies," for $3 million. Pete operates many stores throughout New York City and new Jersey. The written and signed contract ha the following provision: Barry agrees not to own or operate any pest extermination supplies stores within the United States for a period of 2 years following the sale of Bug-Away Supplies to Pete. Three months after the sale was completed, Barry opened two new business ventures. First, he opened up a new pest extermination supplies store in Queens, New York City. Second, because he will now spend his winters in Florida, he opened up a similar store in Miami, Florida. Pete has learned of these new ventures. a. What rights, if any, does Pete have against Barry? b. What are Pete's rights regarding the new business in Queens and the new business in Florida? c. What remedies, if any, are available to Pete? 3. Carolyn Murphy, a welfare recipient with four minor children, responded to an advertisement that offered the opportunity to purchase televisions without a deposit or credit history. She entered into a rent-to-own contract for a twenty-five- inch console color television that required seventy-eight weekly payments of $16 (a total of $1,248, which was two and one-half times the retail value of the set). Under the contract, the renter could terminate the agreement by returning the television and forfeiting any payments already made. After Murphy had paid $426 on the television, she read a newspaper article criticizing the lease plan. She stopped payment and sued the television company. The television company has attempted to take possession of the set. Decision? 4. Tovar applied for the position of resident physician in Paxton Community Memorial Hospital. The hospital examined the background and licensing and assured him that he was qualified for the position. Relying upon the hospital's promise of permanent employment. Tovar resigned from his job and began work at the hospital. He was discharged two weeks later, however, because he did not hold a license to practice medicine in Illinois as required by state law. He had taken the examination but had never passed it. Tovar claims that the hospital promised him a position of permanent employment and that by discharging him it breached their employment contract. Decision? 5. For this problem, assume that the legal rate of interest in New York is 16%. Jack lends Bobby $1,000 and Bobby signs a promissory note for $1,160 payable in one year. Explain whether the transaction is usurious and how much, if anything, the lender may recover
