SOLVED

56) When written documents are signed by a party that makes an unconditional promise to pay the holder of the instrument a specific sum of money on demand, or at a certain time, they are called? A) Formal contracts B) Recognizances C) Simple contracts D) Informal contracts E) Negotiable instruments 57) Which of the following states that if a writing, or term in question, appears to be plain and unambiguous on its face, its meaning must be determined from the four corners of the instrument without resort to outside evidence, with the words being given their ordinary meaning? A) The Simple Rule B) The Plain Meaning Rule C) The Understandable Rule D) The Interpretation Rule E) The Comprehensive Rule 58) In Re Zappos.com Inc., v. Customer Data Security Breach Litigation, the case in the text in which customers of Zappos claimed that they were not bound to an arbitration agreement contained in a contract with Zappos, what was the result of the case? A) The court ruled in favor of Zappos on the basis that the contract was properly entered into and was fully enforceable. B) The court ruled in favor of Zappos on the basis that even though some provisions of the contract were unenforceable, because of the federal policy favoring arbitration agreements, the arbitration clause itself was enforceable. C) The court ruled for the plaintiffs only because of its finding that the contract was illusory and unenforceable because Zappos could avoid promises at any time. D) The court ruled for the plaintiffs for the following two reasons: (1) there was no contract because plaintiffs did not assent to it, and (2) even if a contract existed, the contract was illusory and unenforceable because Zappos could avoid promises at any time. E) The court ruled for the plaintiffs only because of its finding that no contract existed based on the plaintiffs’ lack of assent. [Book Sale] Yasmeen offered to sell Dylan a used business law book for $50. She told him that he could use it in his upcoming business law class the next semester. However, there was a problem with the book; it was several editions old. Dylan was not aware of that fact, and neither was Yasmeen. When Dylan took the book to class and realized the problem, he went back to Yasmeen requesting a refund. Yasmeen refused to return his money. She claimed that she did not commit fraud because subjectively she thought that the book was correct, and that a binding contract existed. The book, however, is outdated and cannot be appropriately used in the class. 59) Which of the following would describe Yasmeen’s role in the transaction? A) She was the assentor. B) She was the offeree and the assentee. C) She was the offeree. D) She was the offeror. E) She was the assentee. Â 60) Which of the following describes Dylan’s role in the transaction? A) He was the offeree. B) He was the assentee. C) He was the assentor. D) He was the offeree and the assentee. E) He was the offeror. Â Â