Question 1 2 pts Questio Questio Questio Time Running: Attempt due: Sep 20 1 Hour, 21 Minu Debbie Debtor owed three debts to Carl Creditor, totaling $15.000. The first debt was $3,000, the second debt was $5,000, and the third debt was $7.000. Debbie needed to obtain additional gadgets from Carl and paid him $3,000 for them. Debbie also paid Carl an additional $6,000 by check, specifying that it should be applied towards the third debt. Carl accepted the check and applied the money towards the first and part of the second debt. Carl was not obligated to follow Debbie's orders and could apply the payment to the debts he wanted True False Question 2 2 pts Sheldon saw some cool technology that he wanted to purchase, however, he was short of cash. Lenny knew how much Sheldon really wanted it, and offers to loan Sheldon the money. Sheldon borrows $4,000 from him and agrees to repay the money in six months. Later, Lenny purchased a car from Penny for $7.000. He pays her $3,000 in cash and assigns the right to the $4,000 to her. Penny contacts Sheldon towards the end of the six months, requesting payment. Sheldon claims that he doesn't owe her the money because he never agreed to pay her and that there was never any intent to benefit her when he and Lenny made the contract. If Penny sues Sheldon for the money, she will most likely win becasue she was she was not part of the contract at the time it was made. o lose because she became a party to the contract after it was made. o lose because she was not part of the contract at the time it was made. win because she became a party to the contract after it was made. Question 4 2 pts Billy the Kid offered to sell Jesse James five rare guns for $1,700 provided that he win the gun shooting, draw against Wild Bill Hickok on Saturday. This is an example of O a conditional gift O no condition O a condition subsequent a concurrent condition O a condition precedent Question 6 2 pts Que Que Que Time Runnin Attempt due: S 1 Hour, 20 N High-End Fashion, Inc. rented some space in Great Wonders shopping plaza. The lease required that High-End Fashion maintain liability insurance to protect itself and Great Wonders. High-End Fashion purchased the insurance from We Cover Everything Insurance Company. One day, Carla Clumsy visited High-End Fashion. While she was walking, she fell and was injured. She suffered $25,000 damages. She sued High-End and Great Wonders, claiming that she was a party under the lease agreement because High-End was required to maintain liability insurance. Carla Clumsy is ain) O delegatee intended donee beneficiary assignee incidental beneficiary O intended creditor beneficiary obligor Question 7 2 pts Debbie Debtor owed three debts to Carl Creditor, totaling $15,000. The first debt was $3,000, the second debt was $5,000, and the third debt was $7.000. Debbie needed to obtain additional gadgets from Carl and paid him $3,000 for them. Debbie also paid Carl an additional $6,000. Carl may apply the additional money to his choice of the three debts. Time Attem 1 Hou True False D Question 8 2 pts Tin Atte 11 Sheldon saw some cool technology that he wanted to purchase, however, he was short of cash. Lenny knew how much Sheldon really wanted it, and offers to loan Sheldon the money. Sheldon borrows $4,000 from him and agrees to repay the money in six months. Later, Lenny purchased a car from Penny for $7,000. He pays her $3,000 in cash and assigns the right to the $4,000 to her. Penny contacts Sheldon towards the end of the six months, requesting payment. Sheldon claims that he doesn't owe her the money because he never agreed to pay her and that there was never any intent to benefit her when he and Lenny made the contract. What type of contract was created by Lenny and Penny? novation O delegation third-party intended creditor beneficiary assignment incidental beneficiary O third-party intended donee beneficiary Question 9 2 pts 2 Assignments are created at the time a contract was made while third-party beneficiaries are created after the parties make a contract. Time R Attempt 1 Hour True False
