Louisiana State University

LSU COMD 4380 Exam 1 questions n answers rated A+ 2025/2026

Divided Parcel (DP) includes the following on its mailing receipts: "We are not responsible for any damages to packages whether or not through the fault or negligence of our employees. Send packages at your own risk." Mary reads this clause but sends her watch back to its manufacturer to be repaired anyway. The watch is destroyed when the DP driver uses the package for a ball and tosses it to his buddy. Mary is: - Answer Likely to collect from DP because it is a common carrier. A(...

Aunt Ellie promises her 21-year-old nephew, Robbie, that she will pay him $100 if he quits smoking for a month. If Robbie does, is there a binding contract? - Answer Yes, because Robbie gave up a legal right Janet promises Eli $4,000 for one of his original paintings on the condition that she receive $1 million from her mother's will. - Answer Janet's promise is legally sufficient unless Janet knew at the time she made the promise that she could not inherit the $1 million. ...

Ryan vs. Friesenhahn Plaintiff- Defendant- - Answer Plaintiff- Ryan Family Defendant- Friesenhahn Family Ryan vs. Friesenhahn The summary judgement was reversed and case remanded to the trial court Appeal- - Answer Ryan Family Ryan vs. Friesenhahn Decision - Answer In favor of Ryan family, Friesenhahn's were aware of the minors consuming alcohol which made them liable Mims vs. Arrow Financial Services, LLC Plaintiff Defendant - Answer Plaintiff- Marcus...

Vanegas v. American Energy Services (AES) - Answer *Illusory Promises* -Employer, AES, formed in 1996 -Employees voiced concerns in a meeting to John Carnett, a vice president of AES, complained about working long hours with antiquated equipment. -In an effort to provide an incentive for them to stay with the company, Carnett promised the employees, who were at-will and therefore free to leave the company at any time, that "in the event of sale or merger of AES, the original [eight] ...

An agreement of a seller to supply a buyer's requirements for certain goods known as: - Answer A requirements contract Elmer wrote a letter to his friend Fred offering to sell Fred an 80-acre farm for $200,000. After mailing the letter, Elmer learns that the farm is actually worth $300,000 and changes his mind about selling. - Answer Elmer can revoke his offer at any time before acceptance, because there is no consideration to keep the offer open If there is no time specifie...

Consideration - Answer The inducement to enter into a contract. Elements: legal sufficiency and bargained-for exchange Legal Sufficiency (Legal Detriment and/or Legal Benefit) - Answer Consists of either a detriment to the promise or a benefit to the promisor Legal Detriment - doing an act one is not legally obligated to do or not doing an act that one has a legal right to do Legal Benefit - obtaining something to which one had no prior legal right Adequacy - not requi...

CHAPTER 15: Statute of Frauds - Answer Chapter 15 deals with the Statute of Frauds (which is not the same kind of fraud we talked about in chapter 11!). - This chapter covers SIX contract types that fall under the Statute of Frauds and that MUST be written in order to be enforceable. - This means that, instead of having the FOUR typical requirements for a contract to be enforceable, these have FIVE! - Though written, the style/format of this writing can be SUPER simple and informal. J...

In order to have a valid contract, in addition to the four basic requirements of a contract, must also occur? - Answer There must be an absence of invalidating conduct, like duress. What isn't always necessary for a valid contract to be formed? - Answer Writing When might a contract be unenforceable? - Answer If the statute of limitations has passed. Define Void, Voidable, Valid, and Unenforceable. - Answer Void - not an actual contract, is unenforceable Vo...

primary - Answer State constitutions are a (BLANK) source of law the U.S. Constitution - Answer the most important primary source of our law is: yes - Answer in our federal system, do all U.S. congressional laws (or federal statutes) apply to every state? federal statutes - Answer laws passed by Congress and normally signed into law by the president perform specific government functions - Answer administrative agencies are created to: The Uniform Comm...