Larry lends his brother, Brad, $1,000. Brad agrees to build a new pool deck for Sanado in exchange for Sanado paying Larry $1,000. Brad builds the pool deck, but Sanado refuses to pay. Can Larry sue for payment?

Archie posts in the local newspaper that he is selling an empty plot of land for $7,000. Veronica responds to the ad and goes to see the plot. Veronica hands Archie $6,000 in cash. Archie declines the $6,000. Veronica tries to hand Archie another $1,000. Veronica argues that Archie cannot revoke his offer to sell because she has already accepted. Which of the following is certainly a FALSE statement about this scenario? 

Within the last five years, waist trainers have become immensely popular due to advertisements on social media platforms and television.  A waist trainer is a modern-day corset that women wear throughout the day to promote the appearance of a small waist.  If worn for eight hours a day, the waist trainer also helps to refine a woman’s shape, improve her posture, control her appetite, and ultimately assist her with weight loss.  Recent studies show, however, that waist trainers may have adverse effects on women, including displacement of organs, dehydration, compressed lungs, fractured ribs, and other serious complications.  In light of these findings, Congress has implemented a law forbidding waist training companies from advertising waist trainers on television, radio shows, and even social media platforms in hopes of discouraging purchase of waist trainers.  Waist training companies are now bringing suit, alleging that this restriction is a First Amendment violation.  What will result?

1.1.2 The government taking over ownership of businesses in the private sector is known as …. (2)

Hugo owes Bank of Maryland $15,000. He files for bankruptcy. Normally, in bankruptcy, the debt would be wiped out at the end of the bankruptcy (discharge). Hugo does not want that to happen because the loan is for his car, so he would have to return his car for the debt to disappear. Hugo decides to reaffirm his debt to the Bank of Maryland, so he can keep his car even though he will still be liable for the debt. A few months after reaffirming the debt he changes his mind and claims the reaffirmation lacked consideration. Was the reaffirmation valid?

1.3.2 How efficient factors of production are being used. (1)

In exchange for $750,000, Juliet offers to recreate the carnival scene from the musical, “Grease,” in business tycoon Henry’s backyard for Henry’s New Year’s Eve party. Henry is a huge Grease fan, and Juliet threw a “super-dooper sweetener” into the offer, which stated that she would get at least ten of the living cast members from the movie to make an appearance and sing “Summer Nights” and at least two other tunes of the party guests’ choosing.  Henry was thrilled; in early October – 85 days before the party – Henry accepts Juliet’s offer. The day of the party, Juliet called Henry and informed him that none of the cast of Grease would be making an appearance, but that the rest of the party would come off “without a hitch.” Henry is very upset. He not only wants his down payment to Juliet of $200,000 to be returned to him, but also wants Juliet to reimburse his incidental costs to date related to putting on the party (some prepaid costs not covered in the Juliet-Henry contract that concern catering and crowd control). Henry claims that he has serious legal grounds to sue Juliet. Does he?

For the next five questions, you will have to complete the work on a separate paper to show your work and present your answer. (No work-No credit) After you have completed each question, hold up your work the webcam. Once you have submitted the test, an assignment will be available for you to submit you work via scan/photo.

Surgery Success A surgical technique is performed on fifteen patients. You are told that there is a 70% chance of success. Find the probability that the surgery is: Successful for at least seven patients Non successful for more than six but less than thirteen patients Successful for less than thirteen patients Non successful for at least six but no more than ten patients Do not submit your work here. Hold up your work to the webcam when you are done. Once you have submitted the test, you will upload your work on a separate assignment which will unlock after completing this test.

Ronnie had a severe gambling problem. Every night, he stayed awake to the wee hours of the morning picking games and spreads and betting online or calling his bookie in Vegas. Finally, Ronnie’s wife, Diane, had enough of Ronnie’s gambling. Diane entered into a written contract with Cole, a gambling addiction therapist, who agreed to treat Ronnie twice a week for six months. The contract is signed in writing (by the contract parties, Diane and Cole; and, of course, also by the patient, Ronnie). Ronnie then begins his counseling. However, after two months, Diane sees no improvement in Ronnie’s behavior. After all, her debit cards just got declined at the store, and when she confronted Ronnie, he simply stated, “I lost $1,000 on the Steelers last night.”  Diane decides she is going to breach the contract, that is, to stop paying Cole. What would a court most likely find, if Cole sues Diane to enforce the contract and make her pay for the breach?