Which of the following are recognized exceptions to the statute of frauds?

A relationship in which one party has an unusual degree of ________ in the other can trigger concern about undue influence in gaining the assent of the more dependent party.

Saturday Auction. Barry, an auctioneer, was holding an auction on a Saturday morning. At the beginning of the auction, Barry announced that the auction was being held without reserve. Helen, Mary, and Chris were all in attendance. Helen saw an old cash register with a stuck drawer that she thought would look great in her den. The auctioneer put the cash register up for sale, noting that the drawer was stuck and that no one really knew what was inside. Helen bought it for $20. At the same auction, Mary saw a great deal on a used table. She bid $20 on it. No one else bid anything. Barry announced that $20 was clearly insufficient for the table, that it was worth much more than that, and that he was taking it out of the auction. Chris started bidding on a diamond ring for his girlfriend. He bid $2,000. Just as Barry was getting ready to say “Sold,” Chris looked over at his girlfriend, decided that he was not sure about marriage, and leaped up yelling, “I revoke.” Barry, however, immediately yelled “Sold.” When she got it home and broke into it, Helen discovered that the cash register actually contained $5,000. Unfortunately, Helen had a teenage son named Tad who started bragging to his friends about the family’s good fortune. Barry heard about what had happened and sued Helen for return of the $5,000. Mary sues Barry attempting to obtain possession of the table. Barry sues Chris attempting to enforce a contract for the sale of the engagement ring. What is the likely result in the lawsuit brought by Mary against Barry for the table?

Once a person reaches the age of majority, he or she may no longer ratify contracts made as a minor.

Suppose that Dakiyah promises to pay Fernando $300 for his television. Fernando promises to sell Dakiyah his television for $300. The parties have not documented the transaction in writing. Which of the following is an accurate statement regarding this arrangement?

Under Article 2(A) of the Uniform Commercial Code, a person who transfers the right to possession and use of goods under a lease is a(n) ________.

Sam offers Betty his bicycle for $75. Which of the following is an example of an illusory promise on the part of Betty?

As discussed in the textbook, which of the following is true in China when an outsider allegedly commits or actually commits fraud in the course of business dealings with Chinese firms?

In most states, a minor is someone under the age of ________.

Jacquelyn accepts Monique’s offer to sell her a used car for $2,000. At what point is there a binding contract between the two parties?