Ron offers to sell his "Ford Mustang" car to Steve. Ron is thinking of his 1975 Mustang. Steve knows only of Ron's 1967 Mustang, a much more valuable classic car. He readily accepts Ron's offer and agrees to pay $7,500 for the car. When Ron delivers the 1975 Mustang, Steve refuses to pay. Did the parties have a contract?

Yes, the contract is valid and enforceable.

Yes, this is merely a unilateral mistake of fact.

Yes, there is valid consideration.

No, the contract is void because of a mutual mistake of fact.

Eddie purchases a car from Spiegel Motor Sales when he was 17. The age of majority in the state is 18. Eddie drives the car for 10 months after his 18th birthday when he has an accident and totals the ar. Eddie wants to disaffirm the contract for the purchase of the car and get a refund of the purchase price. Can he do so?

Group of answer choices

Yes, the contract was entered as a minor.

No, because he is deemed to have ratified the contract.

No because the car was totaled.

Yes, he has at least one year to disaffirm after entering the contract.

Freida is at a Kansas City Chiefs football game when several extremely drunk fans in nearby seats begin to harass her. She asks a security officer to do something about this, but he refuses. She then offers him $100 if he'll stop the problems. The officer then warns the fans and the harassment ends. Freida refuses to pay the officer $100. What result?

Group of answer choices

She must pay. He accepted a unilateral offer by performing.

No the contract is unconscionable.

She must pay. He provided consideration.

She doesn't have to pay. The officer was under a pre-existing duty to stop the harassment.

In a bilateral contract, the acceptance is made by:

Group of answer choices

performing action

making a return promise

forbearance; not performing

any of the above

Offeror says: "I will sell you my car for $15,000; if I don't hear from you by Friday, I will assume you have accepted my offer." Offeree does not respond. What result?

There is no contract. The offeree's silence is rejection.

There is a contract because the offeree could have rejected the offer.

There is no contract because the price may be too high.

There is a valid contract because the offeree's silence is an acceptance.

Rex was having car trouble. In a fit of anger, he yelled, "For 2 cents, I would sell this piece of junk." A bystander nearby said he accepted. Is there a valid contract?

No, objectively, Rex did not have contractual intent.

Yes, subjectively, Rex had contractual intent at the time.

No, the consideration is inadequate.

Yes, there was a valid offer and acceptance.

Able made an offer to Baker by mail on April 1. Baker received the offer on April 2. Baker mailed an acceptance on April 3 and it is received by Able on April 5. Able sent a revocation on April 4 and it was received by Baker on April 6. Is there a contract?

No, the revocation was effective on April 3 when sent.

Yes, the acceptance created a contract when sent.

Yes, the acceptance created a contract when received.

No, the revocation was effective when received.

Andrea is a real estate agent; however, she does not have a license as required by law. Andrea sells a piece of property for George and charges him a 6% commission. Does George have to pay?

No, unless there was a written contract.

No, she is a professional without a license. The contract is void.

Yes, if she later gets a license.

Yes, the license is merely revenue-raising. The contract is valid.

Harvey opens a new restaurant with a bar. He forgets to obtain a liquor license from the state. One of his regular customers finds out that Harvey does not have a liquor license and demands the return of all the money the customer has paid for drinks purchased at the bar. Does Harvey have to return the money?

Yes, the license requirement regulates competency.

Yes, the state will require him to return the money.

No, the license is merely revenue-raising.

Yes, the contract is conditioned upon having a license.