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?

Andy and Sally, both merchants and residents of Gainesville, Florida, aspire to enter into a contract with each other for the sale/purchase of goods. After Andy makes an offer to Sally, Sally responds with a written confirmation of acceptance; however, this written confirmation of acceptance states additional terms that are not present in Andy’s offer. Nevertheless, Andy’s offer did not expressly limit acceptance to the terms of his offer and Sally’s additional terms do not materially alter Andy’s offer. If Andy does not give notification of objection to Sally’s terms within a reasonable time, which of the following will occur?

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?

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?

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

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?

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

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.

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.