ON TUESDAY, SAM OFFERED TO SELL HIS CD COLLECTION TO SANDY FOR $100. SANDY REPLIED, “I’M INTERESTED. I’LL THINK IT OVER AND LET YOU KNOW THURSDAY WHETHER I WANT TO BUY THE CDS.” ON WEDNESDAY, SAM AGREED TO SELL THE CDS TO JASON, AND JASON IMMEDIATELY GAVE SAM A LETTER THAT STATED:

. On Tuesday, Sam offered to sell his CD collection to Sandy for $100. Sandy

replied, “I’m interested. I’ll think it over and let you know Thursday whether I want

to buy the CDs.” On Wednesday, Sam agreed to sell the CDs to Jason, and Jason

immediately gave Sam a letter that stated:

“Sam, I will buy your CD collection for $100. As we agreed, I will pay you on

Friday when I pick up the CDs. Yours truly, Jason.”

Upon Sam’s receipt of this letter on Wednesday, what best describes Sam’s

contract agreement(s)?

Sam orally agreed to sell Ramie some land for $500,000. Ramie paid Sam the

$500,000; Sam gave Ramie the deed to the land. Ramie took possession of the land

and began building a cabin on it. One month later, Sam tried to retake possession

of the land by arguing that the contract for the sale was invalid because it was oral,

not written. Sam sued Ramie to invalidate the contract and retake the land.

The court will likely conclude that Sam will:

a) Win; the sale exceeded $500 so the contract must be written to be valid.

b) Win; all land sales contracts must be written.

c) Lose; because the contract was fully executed Sam cannot rescind the

contract.

d) Lose; because Ramie had begun building a cabin on the property, Sam

cannot rescind the contract.

2. On Tuesday, Sam offered to sell his CD collection to Sandy for $100. Sandy

replied, “I’m interested. I’ll think it over and let you know Thursday whether I want

to buy the CDs.” On Wednesday, Sam agreed to sell the CDs to Jason, and Jason

immediately gave Sam a letter that stated:

“Sam, I will buy your CD collection for $100. As we agreed, I will pay you on

Friday when I pick up the CDs. Yours truly, Jason.”

Upon Sam’s receipt of this letter on Wednesday, what best describes Sam’s

contract agreement(s)?

a) By forming an agreement with Jason, Sam breached his contract with

Sandy.

b) Sam has formed contracts with both Jason and Sandy.

c) Sam and Jason have formed a valid, enforceable contract; Sam did not

form a contract with Sandy.

d) Sam formed a contract with Sandy, but has not formed an enforceable

contract with Jason because Jason has not yet paid for the CD collection.

3. Mac and Rhamad signed a business contract with a clause that provides that if a

dispute arises they must submit to binding arbitration to resolve the dispute. After

they had been doing business together for a year, a dispute arose under the terms of

the contract. Rather than submit to arbitration, Mac filed a lawsuit against Rhamad.

Most likely the court will:

a) Hear the lawsuit because Mac cannot be compelled to submit to

arbitration; he is constitutionally entitled to a jury trial if he requests a trial.

b) Conduct a bench trial, then order a remedy without compelling Mac to

submit to arbitration or to a jury trial.

c) Compel Mac to submit to arbitration to resolve the dispute.

d) Hear the lawsuit in a trial, then compel Mac to submit to arbitration, if

Mac is not satisfied with the trial decision.

4. Roxy, while driving through Wyoming to her home in Montana, accidentally

lost control of her car and drove it through a window into a store owned by Colt.

Colt sued Roxy in a Wyoming court for damages to his store.

Will the Wyoming court likely be able to exercise jurisdiction over Roxy?

a) No, because Wyoming has no in personam (personal) jurisdiction over

. .

The post ON TUESDAY, SAM OFFERED TO SELL HIS CD COLLECTION TO SANDY FOR $100. SANDY REPLIED, “I’M INTERESTED. I’LL THINK IT OVER AND LET YOU KNOW THURSDAY WHETHER I WANT TO BUY THE CDS.” ON WEDNESDAY, SAM AGREED TO SELL THE CDS TO JASON, AND JASON IMMEDIATELY GAVE SAM A LETTER THAT STATED: appeared first on cheap nursing papers.