GOVT 404 QUIZ 2 fall 2019 with all

GOVT 404 QUIZ 2 fall 2019 with all the correct answers(Real quiz)  Question 1 5 out of 5 points Which of the following is a false statement regarding consideration? Selected Answer: An unfair bargain cannot constitute consideration since nobody would genuinely bargain for a contract that is not fair.  Question 2 5 out of 5 points Which of the following can serve as consideration? Selected Answer: Both a and b.  Question 3 5 out of 5 points Angus is a drywall contractor. He learns that his neighbor, Bonnie, had some water damage and has been talking to Drywall Solutions, another drywall contractor, to complete the repairs. Angus tells Bonnie that she does not need to hire a drywall contractor and that he will perform the Downloaded by: ianwazaski | Distribution of this document is illegal S - The Marketplace to Buy and Sell your Study Material S - The Marketplace to Buy and Sell your Study Material work at no cost if Bonnie will supply the drywall materials. Bonnie calls Drywall Solutions, which had offered to do the work for $3,000, and tells them not to come. Angus subsequently refuses to do the work. Bonnie has to pay a third drywall contractor $4,000 to complete the job. What argument should Bonnie make to recover from Angus? Selected Answer: That Bonnie relied on Angus’s promise to her detriment.  Question 4 5 out of 5 points True or false: An agreement modifying a contract governed by the UCC does not require any consideration to be binding, but must be made in good faith. Selected Answer: Tru e  Question 5 5 out of 5 points Bookstore, Inc., an independent bookstore, is looking for a new location. It agrees to buy a small house from Jones for $165,000 if the municipal zoning board will approve Bookstore, Inc.’s request for a variance from the local zoning ordinance, which currently only allows houses in this part of town to be used as residences. The contract between Bookstore, Inc. and Jones is Selected Answer: Enforceable, because Bookstore, Inc. has made an enforceable conditional promise.  Question 6 0 out of 5 points True or false: A gift promise is generally unenforceable, unless the promisee reasonably and justifiably relies upon it. Selected Answer: Fals e  Question 7 5 out of 5 points Baxter has been an employee of Shipping Company for seven years. His manager notices that he has been working late, making sure that the company trucks are properly cleaned out, stored, and locked up in the company garage at the end of each workday. The manager tells Baxter that he appreciates his hard work, that Baxter should not feel obligated to stay late to lock up the equipment anymore, and that Baxter can expect a $250 bonus in his next paycheck because of his past efforts. Is the manager’s statement enforceable based on the theory of consideration? Selected Answer: No, the manager’s promise was not a bargained-for exchange, since Baxter had already done the work.  Question 8 5 out of 5 points Which case provides an example of a court applying the pre-existing duty rule? Selected Answer: Alaska Packers’ Assn. v. Domenico