FISCAL LAW EXAMS 2 COMPREHENSIVE
SCRIPT 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉ Seth told the salesperson at Outdoor Times that he wanted the
sleeping bag that was advertised in the Sunday paper; one that
would keep him comfortable if the temperature drops to 10 degrees
Fahrenheit. The salesperson told Seth they were sold out of that bag,
but there were two other styles that would meet his needs and were
the same price. Seth insisted he wanted the advertised bag and
threatened to sue for breach of contract. Which is true?
a)
Outdoor Times must provide Seth with a raincheck, ensuring he can
buy the same bag at the sales price at a later date.
b)
Outdoor Times is guilty of "bait and swap."
c)
Seth will prevail in his case, as Outdoor Times is responsible for
having sufficient stock of advertised items.
d)
Seth will not prevail, as the advertisement was simply a request for
offers. Answer: d)
Seth will not prevail, as the advertisement was simply a request for
offers.
,◉ Roger, a minor, buys a stereo from Tuneland, Inc. Roger uses the
stereo for a few months, returns it to Tuneland, and demands his
money back. Roger may rescind the contract, return the stereo and
get his money back.
True
False Answer: True
◉ Vicki entered into a written contract to buy a car from Valley
Motors. During the negotiations, the sales representative said that
the car had a two-year full warranty. The written contract included a
provision that stated, "This writing is the full and final expression of
the parties' agreement; anything said before signing or while signing
is irrelevant." The written contract did not include a warranty. Two
months after Vicki took delivery of the car, she discovered that the
transmission needed to be replaced. Vicki claimed that it was
covered by the full warranty. Will Vicki be able to present evidence
as to the sales representative's statements concerning the warranty?
a)
Yes. The evidence is needed because the contract is ambiguous.
b)
No, because the contract was fully executed.
c)
Yes. The leading object rule will allow evidence as to the discussion
of the warranty.
, d)
No. The parol evidence rule will most lik Answer: d)
No. The parol evidence rule will most likely exclude any evidence of
the discussion of the warranty.
◉ Which of the following can be characterized as an exculpatory
clause?
a)
Contractor is not liable for damage caused by its employees.
b)
Buyer agrees to pay $5,000 for a used cell phone.
c)
Creditor charges 45% interest on a loan.
d)
All of these are correct. Answer: c)
Creditor charges 45% interest on a loan.
◉ Duress occurs when
a)
a party gives notice of refusal to be bound by an agreement.
b)
both parties contract based on the same factual error.
SCRIPT 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉ Seth told the salesperson at Outdoor Times that he wanted the
sleeping bag that was advertised in the Sunday paper; one that
would keep him comfortable if the temperature drops to 10 degrees
Fahrenheit. The salesperson told Seth they were sold out of that bag,
but there were two other styles that would meet his needs and were
the same price. Seth insisted he wanted the advertised bag and
threatened to sue for breach of contract. Which is true?
a)
Outdoor Times must provide Seth with a raincheck, ensuring he can
buy the same bag at the sales price at a later date.
b)
Outdoor Times is guilty of "bait and swap."
c)
Seth will prevail in his case, as Outdoor Times is responsible for
having sufficient stock of advertised items.
d)
Seth will not prevail, as the advertisement was simply a request for
offers. Answer: d)
Seth will not prevail, as the advertisement was simply a request for
offers.
,◉ Roger, a minor, buys a stereo from Tuneland, Inc. Roger uses the
stereo for a few months, returns it to Tuneland, and demands his
money back. Roger may rescind the contract, return the stereo and
get his money back.
True
False Answer: True
◉ Vicki entered into a written contract to buy a car from Valley
Motors. During the negotiations, the sales representative said that
the car had a two-year full warranty. The written contract included a
provision that stated, "This writing is the full and final expression of
the parties' agreement; anything said before signing or while signing
is irrelevant." The written contract did not include a warranty. Two
months after Vicki took delivery of the car, she discovered that the
transmission needed to be replaced. Vicki claimed that it was
covered by the full warranty. Will Vicki be able to present evidence
as to the sales representative's statements concerning the warranty?
a)
Yes. The evidence is needed because the contract is ambiguous.
b)
No, because the contract was fully executed.
c)
Yes. The leading object rule will allow evidence as to the discussion
of the warranty.
, d)
No. The parol evidence rule will most lik Answer: d)
No. The parol evidence rule will most likely exclude any evidence of
the discussion of the warranty.
◉ Which of the following can be characterized as an exculpatory
clause?
a)
Contractor is not liable for damage caused by its employees.
b)
Buyer agrees to pay $5,000 for a used cell phone.
c)
Creditor charges 45% interest on a loan.
d)
All of these are correct. Answer: c)
Creditor charges 45% interest on a loan.
◉ Duress occurs when
a)
a party gives notice of refusal to be bound by an agreement.
b)
both parties contract based on the same factual error.
