Final Exam GOVT 404 Undergraduate Contracts.

Final Exam GOVT 404 Undergraduate Contracts. User Jessica Hooker Course Fall 2020 GOVT 404-B01 LUO Test Final Exam Started 10/16/20 10:23 PM Submitted 10/17/20 12:02 AM LATE Due Date 10/16/20 11:59 PM Status Needs Grading Attempt Score Grade not available. Time Elapsed 1 hour, 39 minutes out of 2 hours Instructions Time limit: 2 hours 42 multiple-choice and essay questions Open-book/open-notes Do not hit the BACK button as this will lock you out of the exam. The timer will continue if you leave this exam without submitting it. Results Submitted Answers, Feedback Displayed Question 1 5 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? Selected Answer: The agreement is unconscionable because Renée has so little bargaining power and the terms are unfair. Question 2 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: Selected Answer: Employer is entitled to damages of $8,250. Question 3 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: Selected Answer: The contract is enforceable because Anderson relied upon Mallows’ promise to pay an additional $500. Question 4 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: Selected Answer: Steven’s statement constitutes a rejection and is also a counteroffer.