QUESTION 17 Which of the following actions by a buyer is least likely to persuad
ID: 2520589 • Letter: Q
Question
QUESTION 17
Which of the following actions by a buyer is least likely to persuade a court to enforce an oral contract for the sale of land?
Buyer pays seller the full purchase price
Buyer pays part of the purchase price and takes possession of the property
Buyer pays part of the purchase price, takes possession of the property, and makes valuable improvements.
Buyer pays part of the purchase price, takes possession of the property, and makes property tax and mortgage payments.
QUESTION 20
Parole evidence is evidence based on
Oral statements
Usage of the trade
Provisions handwritten into a contract
Waivers of liability
QUESTION 24
Gourmet, an upscale restaurant chain, planned to open a new restaurant in downtown Smallville on Memorial Day weekend. Ye Olde Antique Shoppe, a merchant located next door to Gourmet, was looking forward to the increased sales it would realize from diners who dropped in from next door. Gourmet's contractor did not finish the building on time so Gourmet did not open for the big weekend. Can Ye Olde Antique Shoppe sue the contractor since it lost profits because of his failure to perform on time?
Yes, because it is a business beneficiary of the contract between contractor and Gourmet
Yes, because it is an intended commercial beneficiary of the contract between contractor and Gourmet
No, because it is a donor beneficiary of the contract between contractor and Gourmet.
No, because it is an incidental beneficiary of the contract between contractor and Gourmet.
Buyer pays seller the full purchase price
Buyer pays part of the purchase price and takes possession of the property
Buyer pays part of the purchase price, takes possession of the property, and makes valuable improvements.
Buyer pays part of the purchase price, takes possession of the property, and makes property tax and mortgage payments.
QUESTION 20
Parole evidence is evidence based on
Oral statements
Usage of the trade
Provisions handwritten into a contract
Waivers of liability
QUESTION 24
Gourmet, an upscale restaurant chain, planned to open a new restaurant in downtown Smallville on Memorial Day weekend. Ye Olde Antique Shoppe, a merchant located next door to Gourmet, was looking forward to the increased sales it would realize from diners who dropped in from next door. Gourmet's contractor did not finish the building on time so Gourmet did not open for the big weekend. Can Ye Olde Antique Shoppe sue the contractor since it lost profits because of his failure to perform on time?
Yes, because it is a business beneficiary of the contract between contractor and Gourmet
Yes, because it is an intended commercial beneficiary of the contract between contractor and Gourmet
No, because it is a donor beneficiary of the contract between contractor and Gourmet.
No, because it is an incidental beneficiary of the contract between contractor and Gourmet.
Explanation / Answer
1) Solution: Buyer pays seller the full purchase price
Explanation: Article 2 of the Code covers the sale of land and improvements on the land.
2) Solution: Oral statements
Explanation: The parol evidence rule where (parol refers oral; it is related to parliament and parly—talking) is a substantive rule of law that operates to bar the introduction of evidence intended to reflect that the parties had agreed to certain activity different from what they finally arrived at and wrote down
3) Solution: No, because it is an incidental beneficiary of the contract between contractor and Gourmet.
Explanation: Since it is an incidental beneficiary of the contract between contractor and Gourmet Ye Olde Antique Shoppe sue the contractor thus Ye Olde Antique Shoppe cannot sue the contractor