Liberty University-GOVT 404 Final Exam latest update 2020 with complete solution(Real Exam)

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GOVT 404 Final Exam: real exam questions with answer solution 2020 • Question 1 0 out of 5 points TripleCyl contracts with ManuPow Partners to sell 100 forklift engines at a cost of $2,000 each. Tri... pleCyl agrees to deliver the engines in one installment on April 1. On March 20, TripleCyl delivers 98 engines together with a note stating that the remaining two engines would be delivered the following day. The next day TripleCyl delivers two engines. Is ManuPow Partners entitled to reject the engines? Choose the best answer: • Question 2 5 out of 5 points Mandie interviews Carlton for a new job at Mandie’s company. At the end of the interview, Mandie offers to hire Carlton on a two-year contract with a salary of $42,000, plus health insurance. Carlton asks if he can “sleep on it” and let Mandie know his answer the next day. Mandie agrees. That night, Mandie texts Carlton the message: “I just found someone else for the position, but thanks for interviewing and best of luck.” Choose the best answer: • Question 3 5 out of 5 points GC Company is a building contractor, performing work for the Owner of a construction project. The contract between GC Company and Owner provides that there will be six phases of work. Further it provides that at the end of each phase of work, GC Company should submit its request for payment to Owner’s architect. Once the architect approves the work performed, GC Company is entitled to payment of 1/6 of the total contract price. GC Company performs work on phases 1, 2, 3, 4, and 5, and the Owner pays for the work despite the fact that GC Company never submitted its requests for payment to the architect and never got the architect’s approval of the work. When GC Company submits its request for the sixth and final payment, the Owner refuses to pay it on the grounds that GC Company has never submitted it, or any other request for payment, to the architect. What is GC Company’s most likely argument that it is entitled to payment? • Question 4 5 out of 5 points Drain Clean Solution, Inc. (DCS) cleans industrial drainage systems. DCS contracts with Big Motor Co. (BMC) to clean the water drainage systems around its large manufacturing facility. DCS agrees to charge $15,000 for its services. It costs DCS $12,000 to perform the work. The fair market value of the work to BMC is $13,000. After the work is performed, BMC does not pay DCS. Choose the best answer: • Question 5 5 out of 5 points Apples Co. sells apples. Apples are readily available in the marketplace. Beta Co. operates a large retail fruit market. Apples contracts to sell 30 bushels of apples to Beta Co. and deliver them on November 20. On November 1, Apples Co. tells Beta Co. that it will not deliver any apples to Beta Co. Choose the best answer: • Question 6 5 out of 5 points Allen is hiring a computer database designer to help his law firm design a custom client management database. He interviews Megan for the job, and would like to hire her. He needs someone who will be able to start work right away, and it is important that the new hire sign his confidentiality agreement so that confidentiality of client information will be preserved when the database is designed. Allen locates a form called “employment agreement,” which includes a confidentiality agreement, and mails it to Megan. The cover letter enclosing the agreement indicates that Megan “must sign this agreement without making any changes to it and hand-deliver it to my secretary on or before June 1.” Choose the best answer: • Question 7 5 out of 5 points Blue Studio (Blue) contracts with Derrick Teal (Teal) for Teal to lease Blue’s recording studio to record Teal’s series of 12 podcasts. The recording session is scheduled to take place on December 12. On December 11, the building where Blue’s studio is located is destroyed by a flood. What is the most likely outcome? • Question 8 5 out of 5 points Fifo, Inc. and LevelLLC have been doing business together for eleven years. Fifo, Inc. provides business accounting services for LevelLLC’s small construction business. Last spring, when Fifo, Inc. had some storm damage at its home office, LevelLLC sent some workers over to repair the damage at no cost to Fifo, Inc. The following summer, LevelLLC found itself being audited by the Internal Revenue Service. Fifo, Inc. agreed to advise LevelLLC during the audit at no cost, as a way of thanking LevelLLC for its help the previous spring. Is the agreement between Fifo, Inc. and LevelLLC a bargained-for exchange? • Question 9 5 out of 5 points Employer contracts with Employee to serve as the Chief Operating Officer to the Employer. The term of the contract is one year. The annual salary is $75,000. Before the employment begins, Employee quits. Employer pays a recruiter $3,250 to find a replacement employee. The recruiter finds a comparably qualified replacement employee who is willing to serve as Chief Operating Officer for an annual salary of $80,000. Choose the best answer: • Question 10 5 out of 5 points Lynda is the Chief Operating Officer a medical device manufacturer. She meets with Rupert, who has worked for the company for 40 years. Lynda verbally promises Rupert that if he retires, the company will pay him a monthly retirement benefit until he dies. Rupert retires. Lynda argues that the alleged verbal agreement is unenforceable because the Statue of Frauds requires that it be in writing. Choose the best answer: • Question 11 5 out of 5 points Coldair manufactures refrigerators designed and sold for residential use. The refrigerators are designed to maintain an internal temperature of between 33 and 40 degrees Fahrenheit. Natasha is a scientist who works with viruses. To preserve vials containing influenza viruses, she needs refrigerators that will maintain a constant temperature of 50 degrees. Natasha purchases 3 Coldair refrigerators for her lab, ordering them from a large retailer’s website. The refrigerators are delivered, but after she plugs them in and turns the temperature controls to the warmest setting, none of the refrigerators is warm enough to use for her experiments. Choose the answer that is false: • Question 12 0 out of 5 points Renée lost her job last year and has been unable to find employment since then. She has been living in her car for the past two months, but knows that with winter approaching, she needs to find a place to live. Unfortunately, the odd jobs she’s found only keep her employed for about 10 to 20 hours each week, and she is not sure she makes enough to rent even a small apartment. She meets with a property manager about renting a room in an older house that the manager manages. The manager agrees to rent the room to Renée for $200 each month, but only if Renée will sign a lease agreement that includes a densely worded “future wage assignment” provision in small print, which provides that Renée will pay 10% of any future wages she earns to the property management company for the next 5 years. No other affordable housing options are available to Renée. She signs the lease. The next year, Renee obtains a job working as lab technician in a hospital earning $35,000. What’s Renee’s best argument that the future wage assignment is unenforceable, and why? • Question 13 5 out of 5 points Which of the following contracts is most likely to be enforced by way of the remedy of specific performance? • Question 14 5 out of 5 points Where a party commits a _______________ breach, the nonbreaching party has the right to suspend performance, terminate the contract, and recover damages. • Question 15 0 out of 5 points Boone hires Lenny to work as his bodyguard for 12 months. Two months into the contract, Boone’s cousin, Austin, moves into the apartment building next to Boone. Boone knows Austin has a lot of experience in the security industry, and he has always liked spending time with Austin, so he hires Austin to be his security guard. Boone, falsely, tells Lenny that because Lenny is always late for work, he is fired. One month later, Lenny gets a job working as a bodyguard for someone else. Choose the best answer: • Question 16 5 out of 5 points Allied Signage, LLC contracts to sell to RampCo three custom parking garage signs, complete with brackets, and to install all three signs on the front of RampCo’s three parking garage locations. Is the transaction covered by the Uniform Commercial Code? • Question 17 5 out of 5 points When a party seeks to recover damages for lost profits, it must prove that loss with ______________ certainty. • Question 18 5 out of 5 points Boone hires Lenny to work as his bodyguard for 12 months. Two months into the contract, Boone’s cousin, Austin, moves into the apartment building next to Boone. Boone knows Austin has a lot of experience in the security industry, and he has always liked spending time with Austin, so he hires Austin to be his security guard. The next day when Lenny is 5 minutes late for work , Boone, tells Lenny that because Lenny is was late for work, he is fired. Choose the best answer: • Question 19 5 out of 5 points Bolt Restoration, LLC contracts to sell 10,000 boxes of reconditioned bolts to The Bolt Barn for $40 per box. The boxes are to be delivered in 30 days. At the time of contract, it costs Bolt Restoration, LLC $30 to make each box of bolts. The day after the contract, one of the essential components for reconditioning the bolts, bolt solvent, increases in price sharply. The price increase means that it will cost Bolt Restoration, LLC $70 to make each box it sells. Accordingly, instead of making $100,000 on the contract, Bolt Restoration, LLC will lose $300,000 if it has to perform the contract. Choose the best answer: • Question 20 5 out of 5 points Surface Solutions contracts to resurface the flooring surfaces of each of three identical warehouses on Logistics-88’s distribution compound. The contract provides that the contract price will be $25,000 per warehouse. Surface Solutions resurfaces the first two warehouses, but not the third. As a result, Logistics-88 has to hire someone else to resurface the third warehouse for $25,000. Choose the best answer: • Question 21 0 out of 5 points BuyCo and SellCo enter into a contract for the sale of aluminum flashlights. The agreement is memorialized in a completely integrated written agreement. A dispute between BuyCo and SellCo breaks out, and at trial BuyCo attempts to introduce parol evidence. Which parol evidence is more likely to be admitted over SellCo’s parol evidence rule objection? • Question 22 5 out of 5 points Jackson has hired Louis to work as an accountant in Jackson’s real estate management company for ten years. Over the years, Jackson occasionally asked Louis to “cheat” when preparing financial documents, including, on two occasions, making false statements on Jackson’s federal income tax returns. This year, when negotiating Louis’s employment contract, Jackson tells Louis that he is considering reporting Louis to the Internal Revenue Service for criminally falsifying tax information. He tells Louis that he won’t do that if Louis will agree to work for a substantially reduced salary for the next year. Louis agrees to a one-year contract, with a salary that is 40% lower than what he earned the preceding year. If Louis doesn’t want to be bound to the new contract, his best defense will be: • Question 23 5 out of 5 points In order to satisfy the requirement of the statute of frauds, a writing needs to: • Question 24 5 out of 5 points Arrington hires Bernice to make a prototype of a new hospital bed Arrington hopes to manufacture and sell. Bernice agrees to have the prototype ready by October 1. On September 25, Bernice calls to tell Arrington that she’s almost finished but that it will likely be October 4th or 5th before the prototype is completed. Arrington tells her, for the first time, that he was planning to take the prototype to the Hospital Expo in New York City on October 3, and that if the prototype is not ready by then, he will have wasted the $5,000 exhibition fee he paid. Choose the best answer: • Question 25 5 out of 5 points Bill and Linda have been searching for their “dream house” for years but have never found it. Ten years ago they both decided to substantially reduce the cost of their lifestyle. They sold one of their two cars, sold their house and bought a one-bedroom apartment, stopped going out to eat, started buying used clothing instead of new clothing, and terminated their cable TV accounts and mobile phones. As a result they were able to save money, and after ten years, through their sacrifices, they saved enough for a down payment on construction of their new dream home. The price to build the home is $400,000. The value of the home once completed will be $400,000. They contracted with a builder to construct a custom-designed home for them and gave the builder their 10 years of savings as a down payment: $80,000. The builder breached the contract and left town with their money. Bill immediately became anxious and had trouble sleeping because he was so upset with the builder. If Bill and Linda sue the builder for breach of contract, choose the best answer: • Question 26 0 out of 5 points WCorp contracts with Building Co. to wash the windows at Building Co.’s office building. WCorp contracts with Wndx, LLC to wash the windows at Building Co.’s office building. Choose the best answer: • Question 27 0 out of 5 points Square Co. and Circle Co. enter into a contract for Circle Co. to provide carpet-cleaning services at Square Co.’s office building for one year. The agreement includes the following provision: “In the event that Square Co. transfers ownership of the office building at any time prior to the conclusion of the one-year term of this agreement, both parties’ obligations under this agreement shall end.” The provision is best described as: • Question 28 0 out of 5 points University Bookstore sells books and “spirit gear”—that is, shirts, sweatshirts, bumper stickers, and other items that fans of the University’s sports teams buy. The bookstore sells lots of spirit gear after a home victory by the university basketball and football teams. The Super Conference is a group of universities that compete against each other in various athletic contests. The Super Conference contracts with referees to officiate the contests between the various university teams. Dover is a football official. He is under contract with Super Conference to officiate a football game between University’s team and another school’s team. Dover is responsible for calling penalties, including a penalty called “pass interference.” As time expires in the game, Dover fails to see a player commit pass interference, and as a result of his error, the University team loses the game. Fans leave the stadium disappointed, and do not stop by the University Bookstore to purchase any spirit gear. Choose the best answer: • Question 29 5 out of 5 points Buddie contracts to sell 110 steering wheel covers to Donnie. The contract price is $600. Donnie wrongfully refuses to pay for, or accept delivery of, the steering wheel covers when Buddie delivers them. Buddie resells all of the steering wheel covers for $500. Choose the best answer: • Question 30 5 out of 5 points Contractor enters into a construction contract with a Subcontractor for the Subcontractor to provide sufficient concrete on a construction job site to complete all concrete work according to the contract specifications. The contract provides that “any failure to comply with the strict terms of this contract subjects the Subcontractor to a $10,000 penalty, which the Subcontractor agrees it shall pay on demand.” • Question 31 5 out of 5 points Ramsey and Steven are discussing the sale of Ramsey’s used bulldozer to Steven. Ramsey tells Steven that he will sell the bulldozer for $85,000. Steven responds by saying: “$85,000 is a lot of money; I will pay you $75,000 for it but that is all.” Choose the best answer: • Question 32 5 out of 5 points Shilo offers to sell his home to Bubba for $245,600. Bubba inspects the home and mails a written acceptance letter indicating that “I agree to buy the home for $245,600, including all of the furniture and window treatments in the house when I inspected it today.” Choose the best answer: • Question 33 5 out of 5 points Latricia runs a software development company. The company makes expensive software tools for graphic designers. She agrees to give a copy of one of the software packages from the company’s warehouse to Delbert, a 17-year-old budding graphic designer, if Delbert promises to pay for the software by picking up trash in the company parking lot every day after school for the entire school year. Delbert picks up the software from Latricia, then shows up after school and picks up trash for the first week of school. After that, he never shows up again and refuses to return the software. Does the company have a breach of contract claim against Delbert? • Question 34 0 out of 5 points In a contract for the sale of goods, where a buyer and seller exchange preprinted purchase orders and sales confirmation documents, if the terms related to price, quantity, and description of goods are all the same, but the preprinted terms and conditions on the parties’ respective forms are different, any dispute between the parties regarding which terms and conditions control is likely controlled by: • Question 35 5 out of 5 points Super Quilt, Inc. places an advertisement online, using a social-media company’s advertising distribution system. The advertisement includes a photograph of a quilt with the following message: “Get this cashmere wool quilt, for $29.99, only at your local Super Quilt, Inc.! Regularly priced at $130!” Elaine sees the advertisement and races to her local Super Quilt, Inc. to buy the quilt featured in the advertisement. When she tells the manager, “I want one of those quilts I saw on the internet,” the manager responds that they have sold out of their entire inventory of cashmere wool quilts. Elaine is enraged at the manager’s response. Choose the best answer. • Question 36 5 out of 5 points If Allen makes an offer for a unilateral contract to Robert, when will the contract be formed? • Question 37 0 out of 5 points Mandie interviews Carlton. At the end of the interview, Mandie tells the Carlton that she will be in touch. Mandie mails a letter agreement that offers to hire Carlton on a one-year contract with a salary of $56,500, plus health insurance. The letter indicates that the agreement must be accepted by March 5. On March 3, Carlton countersigns the letter agreement on the signature line provided for him and mails it back to Mandie. On March 4, Mandie calls Carlton and tells him that she revokes the offer. On March 6, Mandie receives the countersigned letter from Carlton. Choose the best answer. • Question 38 0 out of 5 points Anderson contracts with Mallows for Anderson to paint Mallows’ two-story house. The price is $2,500, payable to Anderson once the painting is completed. Prior to the contract, Anderson meets with Mallows, looks at the house, and discusses the kind of paint that Anderson will use and the timing of the completion of the work. Anderson starts painting the house on Monday morning. Monday afternoon, after Anderson has painted only one side of the house, Anderson tells Mallows that he will require an additional $500 to finish the job. In response, Mallows promises to pay Anderson $3,000 upon completion of the house. Choose the best answer: • Question 39 0 out of 5 points Heather contracts for Leonard to play the piano at Heather’s company’s grand opening on the evening of December 14. The contract provides that Leonard will play for $2,000. Leonard finds another job on December 14 that will pay him $3,000. Other pianists are available to work on December 14 and will charge $2,000. If Leonard repudiates his contract with Heather, choose the best answer: • Question 40 0 out of 5 points Mack contracts with Owner to polish and seal Owner’s concrete floor in Owner’s new manufacturing facility. The work is scheduled to take place on July 3. Mack contracts with Rent Master to rent a concrete polishing machine for July 3 at a cost of $500. On July 2 there is an earthquake that destroys Owner’s building. Mack wants to know if the law provides an excuse for his duty to pay Rent Master for the concrete polishing machine. Choose the answer that describes the best defense for Mack to assert: • Question 41 7 out of 10 points Seller manufactures specialty adhesives used in the aerospace industry. Buyer uses a specialty adhesive to make airplane windshields. Seller and Buyer agree that Seller will sell as much “Adhesive 4242” as Buyer requires to make windshields during the next 12 months at a price of $200 per gallon. For the first three months of the contract, Buyer requires 50 gallons of glue every month. In the fourth month, Buyer orders 600 gallons. Seller only provides 50 gallons to Buyer, and Buyer sues for breach of contract. What do you predict the outcome of this dispute will be and be sure to state any legal principles justifying your conclusion? • Question 42 7 out of 10 points Red Studio (Red) contracts with Danielle Orange (Orange) for Orange to lease Red’s recording studio to record Orange’s series of 12 songs for her new album. The recording session is scheduled to take place on October 19. On October 17, Red emails Orange and says: “I’m not sure the studio is going to be available on October 19.” It is important to Orange that the recording is completed on the 19th so she can fulfil her obligations to her record label. Explain the legal consequence of Red’s October 17 email and be sure to state any legal principles justifying your conclusion? [Show More]

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